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Grand Prairie Apartments 500 S Leach Ave 40 Unit Apartment Building For Sale Watonga, OK 73772
Investment Highlights
- 100% Covered under Project-Based Section 8 HAP Contract
- 7 buildings with ample outdoor space designated for families
- LIHTC Overlay (placed in service in 2007)
Executive Summary
Grand Prairie is located in Watonga, Oklahoma. It is less than 70 miles northwest of Oklahoma City, conveniently located off of US-281. Two- and three-bedroom floorplans make up the 40-unit mix, specifically designed for families.
Grand Prairie is 100% covered under a MOD Rehab Section 8 Contract set to renew in 2027. It was renovated with low-income housing tax credits in 2007 and is now out of it's initial compliance period.
Grand Prairie is 100% covered under a MOD Rehab Section 8 Contract set to renew in 2027. It was renovated with low-income housing tax credits in 2007 and is now out of it's initial compliance period.
Financial Summary (Pro Forma - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Sale Type | Investment | Building Class | C |
| No. Units | 40 | Lot Size | 3.94 AC |
| Property Type | Multifamily | Building Size | 63,124 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1972/2007 |
| Zoning | C1 | ||
| Sale Type | Investment |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.94 AC |
| Building Size | 63,124 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1972/2007 |
| Zoning | C1 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- Business Center
- Courtyard
- Laundry Facilities
- Playground
- Basketball Court
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 20 | $893.11 CAD | 891 |
| 3+1 | 20 | $1,215 CAD | 970 |
1 1
Fairly walkable
40/100
Very drivable
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 0165-00-003-000-0-000-00 | Total Assessment | $49,937 CAD |
| Land Assessment | $4,079 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $45,857 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
0165-00-003-000-0-000-00
Land Assessment
$4,079 CAD
Improvements Assessment
$45,857 CAD
Total Assessment
$49,937 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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Grand Prairie Apartments | 500 S Leach Ave
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