Embed Size (px)
Citation preview
DAVID DIRKSCHNEIDER
Director - Multifamily [email protected]
405.239.1224
210 Park Ave, Suite 700, Oklahoma City, OK 73102
priceedwards.com
MICHAEL MASSAD
Multifamily Associate [email protected]
405.239.1226
210 Park Ave, Suite 700, Oklahoma City, OK 73102
priceedwards.com
MIKE MARRARA
Senior Advisor - Multifamily Investment [email protected]
918.394.1000
7633 East 63rd Place, Suite 400, Tulsa, OK 74133
priceedwards.com
The information above has been obtained from sources believe reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty, or representation about it. You and your legal and technical advisors should conduct acareful, independent investigation of the property to determine to your satisfaction to the suitability of the property for your needs.
OFFERING SUMMARY
Sale Price: Subject To Offer
Number Of Units: 98
Occupancy: 93%
Year Built: 1975
Lot Size: 4.91 Acres
Building Size: 83,524
Zoning: R-4 (Multifamily)
Market: Oklahoma City
Submarket: NW Oklahoma City
Traffic Count: 14,758
EXECUTIVE SUMMARY
Price Edwards & Company is pleased to present the exclusive listing of Villas
on Meridian Apartments, in Oklahoma City, Oklahoma. All inquiries about the
Offering or the Property should be directed at Price Edwards & Company.
PROPERTY HIGHLIGHTS
• 28% premium on renovated units
• Significant upside with interior renovations and conversion of additional
units
• Properties unit mix of one and two-bedroom units make the prospect of
leasing activity strong
• Originally built as condos / each unit individually parceled
• Adjacent to Dolese Youth Park- 160 acre municipal park with baseball/
soccer fields, large fishing pond, walk/ run/bike trails, disc/frisbee golf
course, pinic shelters & upgraded city park.
VILLAS ON MERIDIAN5418 N Meridian Avenue Oklahoma City, OK 73112
DAVID DIRKSCHNEIDER
Director - Multifamily [email protected]
405.239.1224
210 Park Ave, Suite 700, Oklahoma City, OK 73102
priceedwards.com
MICHAEL MASSAD
Multifamily Associate [email protected]
405.239.1226
210 Park Ave, Suite 700, Oklahoma City, OK 73102
priceedwards.com
MIKE MARRARA
Senior Advisor - Multifamily Investment [email protected]
918.394.1000
7633 East 63rd Place, Suite 400, Tulsa, OK 74133
priceedwards.com
The information above has been obtained from sources believe reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty, or representation about it. You and your legal and technical advisors should conduct acareful, independent investigation of the property to determine to your satisfaction to the suitability of the property for your needs.
VILLAS ON MERIDIAN5418 N Meridian Avenue Oklahoma City, OK 73112
DAVID DIRKSCHNEIDER
Director - Multifamily [email protected]
405.239.1224
210 Park Ave, Suite 700, Oklahoma City, OK 73102
priceedwards.com
MICHAEL MASSAD
Multifamily Associate [email protected]
405.239.1226
210 Park Ave, Suite 700, Oklahoma City, OK 73102
priceedwards.com
MIKE MARRARA
Senior Advisor - Multifamily Investment [email protected]
918.394.1000
7633 East 63rd Place, Suite 400, Tulsa, OK 74133
priceedwards.com
The information above has been obtained from sources believe reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty, or representation about it. You and your legal and technical advisors should conduct acareful, independent investigation of the property to determine to your satisfaction to the suitability of the property for your needs.
CURRENT RENOVATION SUCCESS
The proposed renovation program has been completed on
four two-bedroom units, with a partial renovation program
completed on six units consisting of one -bedroom unit,
four 2-bedroom units, and one 3-bedroom unit. Units with
partial renovations have received an average premium of
$78.25 more per month while the fully renovated units
have received an average of $151 more per month. The
fully renovated units consist of all new interior, including
cabinets, granite/quartz countertops, faux wood flooring,
new doors, fixtures, base/case, new bathrooms and
appliances. Partially renovated units range from full paint,
refinished countertops, new appliances and a mixture of
vinyl and carpet flooring.
VILLAS ON MERIDIAN5418 N Meridian Avenue Oklahoma City, OK 73112
DAVID DIRKSCHNEIDER
Director - Multifamily [email protected]
405.239.1224
210 Park Ave, Suite 700, Oklahoma City, OK 73102
priceedwards.com
MICHAEL MASSAD
Multifamily Associate [email protected]
405.239.1226
210 Park Ave, Suite 700, Oklahoma City, OK 73102
priceedwards.com
MIKE MARRARA
Senior Advisor - Multifamily Investment [email protected]
918.394.1000
7633 East 63rd Place, Suite 400, Tulsa, OK 74133
priceedwards.com
The information above has been obtained from sources believe reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty, or representation about it. You and your legal and technical advisors should conduct acareful, independent investigation of the property to determine to your satisfaction to the suitability of the property for your needs.
POPULATION 1 MILE 2 MILES 3 MILES
Total Population 14,017 47,414 99,795
Median age 36.3 36.3 35.2
Median age (Male) 34.8 35.6 34.5
Median age (Female) 37.2 37.3 36.6
HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILES
Total households 6,308 20,656 42,558
# of persons per HH 2.2 2.3 2.3
Average HH income $50,787 $51,417 $51,861
Average house value $124,269 $124,496 $130,405
* Demographic data derived from 2010 US Census
VILLAS ON MERIDIAN5418 N Meridian Avenue Oklahoma City, OK 73112
