Current Use by Public Records
- Apartment buildings
Property Details for 115 Monroe Ave
- Year built
- 1972
- Property type
- Apartment buildings
Description
This exceptional 76-unit apartment building, Blue Sky Apartments, presents a compelling investment opportunity in Ardmore, Oklahoma. Constructed in 1972 and situated at 115 Monroe Ave NE, this two-story property has undergone extensive renovations, encompassing major system upgrades and modernized interiors. These improvements have already resulted in increased rent growth and improved tenant retention, offering a truly turnkey operation with minimal anticipated future capital expenditures. The property benefits from its strategic location in Ardmore, a thriving economic center along the I-35 corridor, connecting Oklahoma City and Dallas-Fort Worth. Ardmore's pro-business environment, fostered by the Ardmore Development Authority, creates consistent demand for quality housing, ensuring a strong foundation for long-term stability and potential for future rent increases. This asset represents a rare chance to acquire a recently renovated multifamily property in a dynamic market with significant upside potential. The property's location in Carter County, Oklahoma, zip code 73401, provides easy access to major transportation routes and amenities. The comprehensive renovations minimize the need for immediate capital improvements, allowing new ownership to focus on operational efficiency and maximizing returns. This is a prime opportunity for investors seeking a stable, high-performing multifamily investment in a growing Oklahoma market.
Value Estimations
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ardmore
- County
- Carter
- State
- Oklahoma
- Longitude
- -97.1205
- Latitude
- 34.1883
