Investment Overview

Marcus & Millichap is pleased to announce the listing of La Hacienda, a fourteen-unit apartment community located in Oklahoma City, Oklahoma. The property consists of eight one-bedroom one-bathroom units and six two-bedroom one and a half bathroom units. The current owner operates some of the units Airbnb style while the others are long term leases. The property has been recently renovated with updated interiors, flooring, and appliances inside the units. The long-term tenants are responsible for their own electricity while the owner pays for water, trash, sewer, and gas. This property offers an above market cap rate along with the potential to stabilize income through the addition of long term tenants versus Airbnb. Oklahoma City has a lot to offer as a city as it has a long history of oil and gas production with being a hub for the industry. Oklahoma City is the largest city in the state of Oklahoma and the 20th largest city in the United States and population continues to grow with the new added companies and industries to the state which sees roughly a 3.5% growth year after year in new jobs. Oklahoma City is located on the historic Route 66 which runs from Chicago to Los Angeles which offers many landmarks and attractions on the highway.