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Multifamily

Lincoln Villa Apartments

1109 NW Lincoln Ave, Lawton, OK 73507

Listing Price: Request For Offer

Number of Units
27

Investment Overview

Lincoln Villa is currently 100% vacant and presents a "blank canvas" opportunity to rehab all units and deliver them to market in renovated condition. No apartment projects have been delivered in the last three years and no development projects are underway, per CoStar. Total number of inventory on a per unit basis has increased only 0.51% in the trailing 10 years (6,572 to 6,606), per CoStar. Annual rent growth in Q4 2022 is estimated to be 5.9%. The vintage of current inventory, lack of new development, and rent growth highlight the opportunity to reposition well-located apartment complexes like Lincoln Villa. Comparable properties indicate a post renovation weighted average rent of $752/month/unit. Projected Stabilized NOI of $112,682 reflects a stabilized value of $1,660,000 using a 6.75% market cap rate.

Investment Highlights

  • Value-Add Opportunity
  • Located in a market prime for reposition projects
  • Conveniently access to jobs, entertainment, and commercial providers

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (918) 294-6300

    License(s) OK: 149994

    Oklahoma

Multifamily

Lincoln Villa Apartments

Investment Highlights

  • Value-Add Opportunity
  • Located in a market prime for reposition projects
  • Conveniently access to jobs, entertainment, and commercial providers

Investment Overview

Lincoln Villa is currently 100% vacant and presents a "blank canvas" opportunity to rehab all units and deliver them to market in renovated condition. No apartment projects have been delivered in the last three years and no development projects are underway, per CoStar. Total number of inventory on a per unit basis has increased only 0.51% in the trailing 10 years (6,572 to 6,606), per CoStar. Annual rent growth in Q4 2022 is estimated to be 5.9%. The vintage of current inventory, lack of new development, and rent growth highlight the opportunity to reposition well-located apartment complexes like Lincoln Villa. Comparable properties indicate a post renovation weighted average rent of $752/month/unit. Projected Stabilized NOI of $112,682 reflects a stabilized value of $1,660,000 using a 6.75% market cap rate.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (918) 294-6300

    License(s): OK: 149994

    Oklahoma

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