$ 1,200,000
-
$1,200,000
Price -
24
Bed -
16
Bath -
14,976
SqFt
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About the Listing ROCA01 - 184174
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. Located in a federally designated Opportunity Zone, offering investors significant capital gains tax advantages including deferral and potential full exclusion on appreciation after a 10-year hold. 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.
Listing Highlights
Interior Details
- Bedrooms: 24
- Bathrooms: 16 Full
- Appliances: Refrigerator, Water Heater
- Air Cond: Central Elec
- Heating: Electric
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: Interior Lot
- Garage Capacity: N/A
- Roof: Shingle
- Others:
- Sewer:
Financial Details
- Tax Amount: $5,448
- Taxes w/Assessments: N/A
- Tax/Property ID: 7413NONEMelrose73127
- Tax Year: N/A
Payment Calculator
Monthly Payment
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7413 Melrose Ln Oklahoma City, OK 73127
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