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Heritage Ridge Apartments 7550 NW 10th St 112 Unit Apartment Building For Sale Oklahoma City, OK 73127
Investment Highlights
- Majority 2-BD Units
- $1.1MM in Value-Add Opportunities
- High Visibility On NW 10th (13,000+ VPD) - Yardi
- Over $1.9MM Invested in Capital Expenditures
- Approximately 80% of the Units have been Renovated with $100+/Month Proven Premiums
- $58,000+ Median HH Income - 5-Mile Radius - Yardi
Executive Summary
Summary:
The Multifamily Group is pleased to present Heritage Ridge, a 112-unit apartment community
located in Oklahoma City, Oklahoma. With current occupancy at approximately 93%, Heritage
Ridge represents a stabilized, well-maintained investment opportunity featuring significant
completed capital improvements and strong upside potential. Originally constructed in 1972,
the property has benefited from more than $1.9 million in capital expenditures, including:
? Extensive unit renovations (~80% completed)
? Full Siding Replacement
? Exterior painting
? Parking lot improvements
? Roof replacements
? Adding a Gazebo and Dog Park
? Office upgrades
? 36-Camera Security System
Value-Add:
While ownership has completed substantial renovations throughout the community, several
opportunities remain for a new owner to continue enhancing revenue and property performance:
» Renovate remaining units
» Implement RUBS for water
» Increase ancillary income through pet fees, pet rent, and administrative fees
» Renovate the laundry room
Location:
Heritage Ridge is located in northwest Oklahoma City with convenient access to I-40, I-44, and
downtown Oklahoma City. The property is near major employers including Tinker Air Force
Base, Amazon, INTEGRIS Health, and Will Rogers International Airport. Strong area demographics,
a $58,000+ median household income, and proximity to employment centers support
continued demand for workforce housing.
The Multifamily Group is pleased to present Heritage Ridge, a 112-unit apartment community
located in Oklahoma City, Oklahoma. With current occupancy at approximately 93%, Heritage
Ridge represents a stabilized, well-maintained investment opportunity featuring significant
completed capital improvements and strong upside potential. Originally constructed in 1972,
the property has benefited from more than $1.9 million in capital expenditures, including:
? Extensive unit renovations (~80% completed)
? Full Siding Replacement
? Exterior painting
? Parking lot improvements
? Roof replacements
? Adding a Gazebo and Dog Park
? Office upgrades
? 36-Camera Security System
Value-Add:
While ownership has completed substantial renovations throughout the community, several
opportunities remain for a new owner to continue enhancing revenue and property performance:
» Renovate remaining units
» Implement RUBS for water
» Increase ancillary income through pet fees, pet rent, and administrative fees
» Renovate the laundry room
Location:
Heritage Ridge is located in northwest Oklahoma City with convenient access to I-40, I-44, and
downtown Oklahoma City. The property is near major employers including Tinker Air Force
Base, Amazon, INTEGRIS Health, and Will Rogers International Airport. Strong area demographics,
a $58,000+ median household income, and proximity to employment centers support
continued demand for workforce housing.
Property Facts
| Sale Type | Investment | Lot Size | 3.98 AC |
| No. Units | 112 | Building Size | 95,600 SF |
| Property Type | Multifamily | Average Occupancy | 94% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1972/2020 |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | R-4 - Multi-Family | ||
| Sale Type | Investment |
| No. Units | 112 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.98 AC |
| Building Size | 95,600 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built/Renovated | 1972/2020 |
| Opportunity Zone |
Yes |
| Zoning | R-4 - Multi-Family |
Amenities
Unit Amenities
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- Clubhouse
- Courtyard
- Laundry Facilities
- Picnic Area
- Playground
- Property Manager on Site
- Security System
- Video Patrol
- Basketball Court
- Pet Play Area
- Racquetball Court
- Volleyball Court
- Lounge
- Maintenance on site
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 143631005 | Improvements Assessment | $378,055 |
| Land Assessment | $61,945 | Total Assessment | $440,000 |
Property Taxes
Parcel Number
143631005
Land Assessment
$61,945
Improvements Assessment
$378,055
Total Assessment
$440,000
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Heritage Ridge Apartments | 7550 NW 10th St
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