816 Nevada St Chickasha, OK 73018
- Residential income homes
Current Use by Public Records
- Residential income homes
Property Details for 816 Nevada St
- Year built
- 2022
- Property type
- Residential income homes
- Property subtype
- Dormitories
Description
This exceptional investment opportunity presents a stabilized, four-unit multifamily property ideally situated in Chickasha, Oklahoma, at 816 W. Nevada St., zip code 73018. The property, known as "The Hill," boasts a substantial 7,208 square feet of net rentable space, spread across two stories and built in 2022. Zoned R-3, it sits on a generous lot ranging from 40,000 to 42,000 square feet. The property features a total of 16 beds across the four units, making it an ideal student housing portfolio. With a strong 7.44% capitalization rate and a Net Operating Income (NOI) of $81,489, this Class B property offers a compelling return on investment. The asking price is $1,095,000. Since its completion in September 2022, the property has maintained 100% occupancy, demonstrating strong rental demand. The "rent-by-the-room" model effectively increases the unit count to sixteen, maximizing rental income potential. This turnkey investment is perfect for those seeking a stable, high-yield property in a growing market. The property is offered for sale by owner. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a desirable location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chickasha
- County
- grady
- State
- Oklahoma
- Longitude
- -97.9433
- Latitude
- 35.0328
