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The Villas at Stonelake 7404 Lyrewood Ln 160 Unit Apartment Building For Sale Oklahoma City, OK 73132
Investment Highlights
- Significant Repositioning & Stabilization Opportunity
- Lender Controlled Sale
- Significant Demand for Workforce Housing
- Opportunity to acquire at a significant discount to replacement cost.
Executive Summary
Here is a 160-unit workforce housing community sitting at 35% occupancy in a Northwest Oklahoma City submarket where the four nearest competitors average 92.3% occupancy and are absorbing rents north of $900 per unit. The vacancy is the story—and so is the solution. Damaged units in need of capital have caused the occupancy to remain low, not the market. Approximately 20 units are down, due to frozen pipes, fire, and general disrepair, with the remainder of vacant units in various stages from a light to moderate make-ready. The current owner simply did not fix it. That is the entire explanation for why this deal exists. Physically, the property consists of 18 brick, two-story garden-style buildings on 11.31 acres. This is the perfect product type built for the strong workforce housing demand. The bones are solid. The opportunity is clear: restore the impacted units, execute light interior renovations on the functional inventory, and lease the asset into a market that is demonstrably hungry for it.
The surrounding area supports strong demand for workforce housing, driven by a large renter base and steady population growth throughout Northwest Oklahoma City. More than 208,000 residents live within a five-mile radius, providing a deep pool of potential renters for well-positioned communities.
Villas at Stonelake benefits from convenient access to several of the region’s largest employment centers, including Paycom Corporate Headquarters, Love’s Corporate Headquarters, Integris Baptist Medical Center, and Tinker Air Force Base, which collectively support thousands of jobs throughout the Oklahoma City metro area.
Download financials and offering materials at the following link:
https://www.colliers.com/en/properties/villas-at-stonelake/usa-7404-lyrewood-ln-oklahoma-city-ok-73132-usa/usa1164925
The surrounding area supports strong demand for workforce housing, driven by a large renter base and steady population growth throughout Northwest Oklahoma City. More than 208,000 residents live within a five-mile radius, providing a deep pool of potential renters for well-positioned communities.
Villas at Stonelake benefits from convenient access to several of the region’s largest employment centers, including Paycom Corporate Headquarters, Love’s Corporate Headquarters, Integris Baptist Medical Center, and Tinker Air Force Base, which collectively support thousands of jobs throughout the Oklahoma City metro area.
Download financials and offering materials at the following link:
https://www.colliers.com/en/properties/villas-at-stonelake/usa-7404-lyrewood-ln-oklahoma-city-ok-73132-usa/usa1164925
Property Facts
| Sale Type | Investment | Lot Size | 7.76 AC |
| Sale Condition | Distress Sale | Building Size | 156,123 SF |
| No. Units | 160 | Average Occupancy | 35% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1978 |
| Apartment Style | Townhome | Parking Ratio | 1.52/1,000 SF |
| Building Class | C | ||
| Zoning | R-4 | ||
| Sale Type | Investment |
| Sale Condition | Distress Sale |
| No. Units | 160 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 7.76 AC |
| Building Size | 156,123 SF |
| Average Occupancy | 35% |
| No. Stories | 2 |
| Year Built | 1978 |
| Parking Ratio | 1.52/1,000 SF |
| Zoning | R-4 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Freezer
- Patio
- Porch
Site Amenities
- 24 Hour Access
- Clubhouse
- Courtyard
- Laundry Facilities
- Picnic Area
- Pool
- Property Manager on Site
- Maintenance on site
- Pond
- Public Transportation
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 54 | - | 750 |
| 2+2 | 53 | - | 1,100 |
| 2+2.5 | 53 | - | 1,200 |
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Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 140151925 | Improvements Assessment | $349,137 |
| Land Assessment | $27,600 | Total Assessment | $376,737 |
Property Taxes
Parcel Number
140151925
Land Assessment
$27,600
Improvements Assessment
$349,137
Total Assessment
$376,737
Contacts
-
Chris Kennedy -
David Dirkschneider -
Jason Turner -
Mike Marrara -
Ryan Gorman -
Colliers
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