24 Beds
16 Baths
14,976 SqFt
24 Beds
16 Baths
14,976 SqFt
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 14,976 sqft
Price per Sqft $80
MLS Listing ID OKC1239729
Style Other
Bedrooms 24
Full Baths 16
Construction Status Brick & Frame
Year Built 1968
Annual Tax Amount $5,447
Lot Size 0.967 Acres
Acres 1.0
Property Sub-Type Apartment
Property Description
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.
Contact Rock Property Group for Offering Memorandum and Current Financials.
Broker discloses a minority ownership in the property.
Location
State OK
County Oklahoma
Interior
Heating Electric
Cooling Central Elec
Fireplace N
Appliance Refrigerator, Water Heater
Exterior
Roof Type Shingle
Building
Lot Description Interior Lot
Story 2
Foundation Slab
Architectural Style Other
Structure Type Brick & Frame
Construction Status Brick & Frame
Schools
Elementary Schools Greenvale Es
Middle Schools Western Heights Ms
High Schools Western Heights Hs
School District Western Heights
Nearby Locations
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REALTOR® Lic# 174843