Investment Overview

Marcus & Millichap is pleased to present the listing of Park Place Apartments located in Woodward, Oklahoma. The property consists of eight one-bedroom one-bathroom units and twenty two-bedroom one-bathroom units totaling to twenty eight units with ±21,440 rentable square feet. A common area amenity is a laundry facility on site for the tenants. The owner pays for the water and trash utility while the tenants are responsible for their electricity. This property has seen historically high occupancy and is in a stable market. The seller has reported brand new roofs in 2021 on all buildings at the property and updates to the sewer system equipped with PVC pipes. With this value-add property, a new owner can raise rents through implementing a unit upgrade plan and utility bill back program to increase net operating income.