73 Units - SMG Apartments 3 Multifamily Properties Offered at $10,799,334 CAD in Oklahoma City, OK

Moreau Property Advisors is pleased to present the exclusive opportunity to acquire a 73-unit multifamily portfolio located in the rapidly growing Oklahoma City market. The portfolio consists of three separately positioned assets: The Heights Apartment Complex, Las Villas on Penn Ave, and Meridian Apartments. Collectively, the properties provide a diverse mix of stabilized workforce housing assets with significant recent capital improvements, strong in-place occupancy, and attractive operational upside.
The portfolio contains a total of 73 units across approximately 56,802 square feet of improvements situated on approximately 2.67 acres plus additional development land at Meridian Apartments. The combined offering is currently 100% occupied and generates approximately $728,232 in gross annual income with a combined net operating income of approximately $581,985. The portfolio is being offered at a combined valuation of approximately $7,760,000, representing an attractive going-in cap rate near 7.50%.
The assets are strategically positioned within established infill corridors of Oklahoma City with direct access to major employment centers, retail corridors, transportation routes, and population density drivers. All three properties benefit from strong surrounding demographics, increasing rental demand, and limited affordable housing inventory within their respective submarkets.
The Heights Apartment Complex, located at 3720 North Pennsylvania Avenue, is the largest asset in the portfolio and consists of 41 units totaling approximately 35,502 square feet. The property underwent substantial renovations in 2024 including a new roof, upgraded exterior finishes, concrete parking improvements, and gated access enhancements. The unit mix includes thirteen one-bedroom units and twenty-eight two-bedroom units with an average monthly rent of approximately $980 per unit. The asset generates approximately $490,632 in annual gross income and approximately $378,697 in net operating income. The property offers stabilized operations with strong tenant demand in a dense urban infill location near employment and retail amenities.
Las Villas on Penn Ave, located at 3718 North Pennsylvania Avenue, is an 8-unit multifamily property totaling approximately 8,100 square feet. Renovated in 2024, the property received major exterior and interior upgrades including new exterior paint, siding improvements, and interior finish work. The property is fully occupied and consists entirely of one-bedroom units averaging approximately $650 per month in rent. Las Villas generates approximately $62,400 in annual gross income with approximately $39,517 in net operating income. The property presents a stabilized boutique multifamily opportunity with minimal near-term capital requirements and operational simplicity.
Meridian Apartments, located at 4701 NW 16th Street, consists of 24 studio units totaling approximately 13,200 square feet and includes additional land for future development potential. The property underwent extensive renovations in 2024 including exterior paint, new concrete work, upgraded railings and walkways, HVAC replacements, roof improvements, and gated access installation. Meridian Apartments generates approximately $175,200 in annual gross income and approximately $163,771 in net operating income. The property benefits from strong occupancy, workforce housing demand, and future upside through potential development or site expansion opportunities on the excess land included with the asset.
Collectively, the portfolio offers investors a rare opportunity to acquire a recently renovated, fully stabilized multifamily portfolio in one of Oklahoma’s strongest and most active metropolitan markets. The combination of renovated physical improvements, stable occupancy, diversified unit mix, and workforce-oriented rental pricing creates an attractive investment profile for both private and institutional buyers seeking immediate cash flow with future appreciation potential.
The Oklahoma City market continues to experience steady population growth, expanding employment opportunities, and increasing housing demand driven by healthcare, energy, aerospace, manufacturing, and logistics sectors. The portfolio’s strategic locations provide convenient access to Interstate corridors, downtown Oklahoma City, major retail nodes, and employment centers, positioning the assets for continued operational stability and long-term rent growth.
This offering presents investors the opportunity to acquire scale within a single metropolitan market while benefiting from economies of management, strong existing occupancy, and substantial recent capital improvements that reduce near-term deferred maintenance exposure. The portfolio’s current cash flow, value-add history, and future upside potential make it well suited for investors seeking stable multifamily assets in a high-demand Oklahoma City submarket.