7413 Melrose Lane,Oklahoma City, OK 73127
Oklahoma City, OK 73127
Description
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.
Details
| MLS # | 1239729 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1968 |
| Days On Site | 38 |
| Listing Provided By | Rock Property Group | Matthew Hodge |
Features
| Bed(s) | 24 |
|---|---|
| Bath(s) | 16 Total |
| SQ Feet | 14,976 |
| Story(s) | 2 |
| Acreage | 1.00 |
Interior
| Heating | Electric |
|---|---|
| Appliances | Refrigerator, Water Heater |
Exterior
| Lot Features | Interior Lot |
|---|---|
| Foundation Details | Slab |
Taxes
| Okc Tax Amount | 5447.8900 |
|---|---|
| Tax Block | 20 |
| Tax Lot | 1-4 |
Area Information
| State | OK |
|---|---|
| County | Oklahoma |
| City | Oklahoma City |
| Zip Code | 73127 |
| School District | Oklahoma |
| School District | Western Heights HS |
| Elementary School | Greenvale ES |
| High School | Western Heights HS |
| Listing VS Median (in 73127) | |
Price: $1,200,000 low | high Med: $216,950 sqft: 14,976 low | high Med: 1,770 $ / sqft: $80 low | high Med: $123 On site: 38 low | high Med: 32.5 | |
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Learn More About This Property
| State | OK |
|---|---|
| County | Oklahoma |
| City | Oklahoma City |
| Zip Code | 73127 |
| School District | Oklahoma |
| School District | Western Heights HS |
| Elementary School | Greenvale ES |
| High School | Western Heights HS |
| Listing VS Median (in 73127) | |
Price: $1,200,000 low | high Med: $216,950 sqft: 14,976 low | high Med: 1,770 $ / sqft: $80 low | high Med: $123 On site: 38 low | high Med: 32.5 | |