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Value-Add Multifamily Investment near OBU 661 N Park Ave 8 Apartment Units Online Auction Sale Shawnee, OK 74801
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Investment Highlights
- 661 N Park Avenue offers an eight-unit multifamily asset in vacant and distressed condition, providing an immediate renovation upside for investors.
- Prime location with proximity to Downtown Shawnee and major job centers, including Oklahoma Baptist University and SSM Health St. Anthony Hospital.
- Growing 5-mile population exceeding 39,000, with more than 43% currently renting their homes and over $55M in annual spending on household costs.
- Property spans a total of 2,050 square feet across two stories, with an attractive brick façade, flexible unit layouts, and large windows.
- Proximity to Highways 177, 270, and 3E, and only 10 minutes from Interstate 40, allowing travel to Oklahoma City in just 45 minutes.
- Absolute auction | Starting bid $1.
Executive Summary
661 N Park Avenue presents a strategically located multifamily investment in the heart of Shawnee, Oklahoma. Comprising eight vacant apartment units in distressed condition, this rare opportunity provides an adaptable asset with significant value-add potential for renovation or adaptive reuse.
661 N Park Avenue, built in 1935, spans 2,050 square feet of building area on 0.26 acres. The two-story building includes an attractive brick façade, flexible unit layouts, and large windows for rich natural lighting. The lot includes generous yard space, including a fenced rear yard that can be used for parking or an outdoor common area.
The property enjoys a prime location just blocks from Shawnee’s downtown core, within walking distance of quality dining, retail, and recreation options. 661 N Park Avenue is easily accessible, situated within minutes of Highway 177, 270, and 3E. Additionally, Interstate 40 is reachable in just 10 minutes, allowing travel to Downtown Oklahoma City in under 45 minutes. This well-connected location attracts residents with proximity to Shawnee’s largest job centers, including Oklahoma Baptist University, SSM Health St. Anthony Hospital, and the Shawnee Mall.
Shawnee’s Multifamily Market presents favorable fundamentals and demographics that empower new investments in the region. When looking within 5 miles of 661 N Park Avenue, Shawnee provides a growing population of more than 39,000, with more than 43% currently renting their homes. These locals contribute more than $384 million in annual consumer spending, including more than $55 million spent on household costs. The market enjoys stable multifamily vacancies of approximately 8.1%, and with no new inventory constructed in the last decade, there is limited competition for quality housing in the area. This creates an upside to renovating the subject property and delivering modernized residences that are well-positioned against local competitors.
Discover an exceptional acquisition in Pottawatomie County offering a prime location and significant value-add growth potential at 661 N Park Avenue.
Property tours are by appointment only. Please contact the listing broker to schedule.
661 N Park Avenue, built in 1935, spans 2,050 square feet of building area on 0.26 acres. The two-story building includes an attractive brick façade, flexible unit layouts, and large windows for rich natural lighting. The lot includes generous yard space, including a fenced rear yard that can be used for parking or an outdoor common area.
The property enjoys a prime location just blocks from Shawnee’s downtown core, within walking distance of quality dining, retail, and recreation options. 661 N Park Avenue is easily accessible, situated within minutes of Highway 177, 270, and 3E. Additionally, Interstate 40 is reachable in just 10 minutes, allowing travel to Downtown Oklahoma City in under 45 minutes. This well-connected location attracts residents with proximity to Shawnee’s largest job centers, including Oklahoma Baptist University, SSM Health St. Anthony Hospital, and the Shawnee Mall.
Shawnee’s Multifamily Market presents favorable fundamentals and demographics that empower new investments in the region. When looking within 5 miles of 661 N Park Avenue, Shawnee provides a growing population of more than 39,000, with more than 43% currently renting their homes. These locals contribute more than $384 million in annual consumer spending, including more than $55 million spent on household costs. The market enjoys stable multifamily vacancies of approximately 8.1%, and with no new inventory constructed in the last decade, there is limited competition for quality housing in the area. This creates an upside to renovating the subject property and delivering modernized residences that are well-positioned against local competitors.
Discover an exceptional acquisition in Pottawatomie County offering a prime location and significant value-add growth potential at 661 N Park Avenue.
Property tours are by appointment only. Please contact the listing broker to schedule.
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Property Facts
| Sale Type | Investment | Building Class | C |
| Sale Condition | Auction Sale | Lot Size | 0.26 AC |
| Type of Ownership | Fee Simple | Building Size | 2,050 SF |
| No. Units | 8 | Average Occupancy | 0% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1935 |
| Apartment Style | Low-Rise | Parcel Number | 090000001003000000 |
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 2,050 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built | 1935 |
| Parcel Number | 090000001003000000 |
Fairly walkable
40/100
Moderately drivable
60/100
Moderately bikeable
60/100
Sale Advisor
Sale Advisor
Kyle Simon, Vice President
Kyle is the current Vice President for AQRE Advisors. Prior to joining AQRE Advisors in early 2022, Kyle served as the VP for Friedman Real Estate in Farmington Hills, MI. Kyle is a 2013 graduate of Michigan State University, where he returned to then earn his Juris Doctor degree.
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Auction Contact
John Artozqui
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 149227
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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Value-Add Multifamily Investment near OBU | 661 N Park Ave
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