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Pennington Place Apartment 3732 NW 23rd St 40 Unit Apartment Building $5,254,178 CAD ($131,354 CAD/Unit) Oklahoma City, OK 73107
EXECUTIVE SUMMARY
Pennington Place Apartments is a renovated 40-unit multifamily community located along the NW 23rd corridor in Oklahoma City. Priced at $3,795,000, the property delivers a compelling 7.23% cap rate based on in-place T-12 financials, providing investors with immediate cash flow and additional value-add upside.
The asset underwent a $2.566 million full renovation in 2022, including new roofs, HVAC systems, plumbing and sewer upgrades, full electrical modernization, all-new interiors (sheetrock, paint, cabinets, fixtures), new flooring, appliances, stairwells, sidewalks, and parking lot improvements. Virtually every major component of the property has been replaced or upgraded, dramatically reducing future capital needs.
The asset underwent a $2.566 million full renovation in 2022, including new roofs, HVAC systems, plumbing and sewer upgrades, full electrical modernization, all-new interiors (sheetrock, paint, cabinets, fixtures), new flooring, appliances, stairwells, sidewalks, and parking lot improvements. Virtually every major component of the property has been replaced or upgraded, dramatically reducing future capital needs.
PROPERTY FACTS
| Price | $5,254,178 CAD | Building Class | C |
| Price Per Unit | $131,354 CAD | Lot Size | 1.71 AC |
| Sale Type | Investment | Building Size | 32,720 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 40 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1963/2022 |
| Property Subtype | Apartment | Parking Ratio | 1.38/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | RM1 | ||
| Price | $5,254,178 CAD |
| Price Per Unit | $131,354 CAD |
| Sale Type | Investment |
| Sale Condition | 1031 Exchange |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.71 AC |
| Building Size | 32,720 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1963/2022 |
| Parking Ratio | 1.38/1,000 SF |
| Zoning | RM1 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
SITE AMENITIES
- Courtyard
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 20 | - | 786 |
| 2+1 | 20 | - | 850 |
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PROPERTY TAXES
| Parcel Number | 133801055 | Improvements Assessment | $342,459 CAD |
| Land Assessment | $29,337 CAD | Total Assessment | $371,796 CAD |
PROPERTY TAXES
Parcel Number
133801055
Land Assessment
$29,337 CAD
Improvements Assessment
$342,459 CAD
Total Assessment
$371,796 CAD
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Pennington Place Apartment | 3732 NW 23rd St
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