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Melrose Oaks 7413 Melrose Ln 16 Unit Apartment Building $1,200,000 ($75,000/Unit) Oklahoma City, OK 73127
Executive Summary
Rock Property Group is pleased to present Melrose Oaks, a fully occupied 16-unit garden-style apartment community located in Oklahoma City, just minutes from I-40 and the OKC Outlet Shoppes. The property offers stabilized in-place cash flow with significant value-add upside through a straightforward mark-to-market rent strategy and operational improvements available to a hands-on owner.
Currently operating at 100% occupancy with a long-tenured tenant base, Melrose Oaks is positioned approximately $100 below market rents per unit — representing roughly $19,200 in annualized rent upside before factoring in additional operational improvements. A new owner has the opportunity to capture market rents through organic turnover, light interior upgrades, and ancillary income enhancements such as RUBS implementation for water/sewer.
The property consists of four two-story buildings with four units each, totaling 16 spacious 2-bedroom / 1-bathroom units averaging 850 SF. The brick construction, pitched roof (replaced 2019), and individually-metered electric service provide a durable foundation. The property has recently had the parking lot restriped and sealed.
Broker discloses a minority ownership in the property.
Currently operating at 100% occupancy with a long-tenured tenant base, Melrose Oaks is positioned approximately $100 below market rents per unit — representing roughly $19,200 in annualized rent upside before factoring in additional operational improvements. A new owner has the opportunity to capture market rents through organic turnover, light interior upgrades, and ancillary income enhancements such as RUBS implementation for water/sewer.
The property consists of four two-story buildings with four units each, totaling 16 spacious 2-bedroom / 1-bathroom units averaging 850 SF. The brick construction, pitched roof (replaced 2019), and individually-metered electric service provide a durable foundation. The property has recently had the parking lot restriped and sealed.
Broker discloses a minority ownership in the property.
Property Facts
| Price | $1,200,000 | Building Class | C |
| Price Per Unit | $75,000 | Lot Size | 0.97 AC |
| Sale Type | Investment | Building Size | 14,976 SF |
| No. Units | 16 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1968 |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Zoning | R-4 | ||
| Price | $1,200,000 |
| Price Per Unit | $75,000 |
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.97 AC |
| Building Size | 14,976 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1968 |
| Opportunity Zone |
Yes |
| Zoning | R-4 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
20/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 148191000 | Improvements Assessment | $36,954 |
| Land Assessment | $9,078 | Total Assessment | $46,032 |
Property Taxes
Parcel Number
148191000
Land Assessment
$9,078
Improvements Assessment
$36,954
Total Assessment
$46,032
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