Current Use by Public Records
- Falcon Ridge Apartments / Apartment Building
Property Details for 4101 Camelot Dr
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a 72-unit multifamily portfolio in Lawton, Oklahoma. Comprised of three well-maintained apartment communities – Crystal Pointe, Falcon Ridge, and The Arbors – this Class B property boasts a remarkable 99% occupancy rate. Built between 1979 and 1985, the portfolio features a mix of pitched and flat roofs (TPO on Arbors, less than 10 years old), and 66% of units include washer/dryer connections. The properties benefit from a concrete parking lot and have undergone significant capital improvements within the last two years, including new windows, siding, exterior paint, and guttering. The portfolio's strong historical occupancy (above 97% since construction) and current NOI of $328,934, with a pro-forma NOI of $355,024, demonstrate its exceptional financial performance. Located on the east side of I-44, near the rapidly growing area of Lawton, the properties enjoy proximity to major employers like Fort Sill, casinos, hotels, and MacArthur High School. The Lawton area is experiencing significant economic growth, fueled by new businesses along I-44 and city investments in infrastructure. This value-add opportunity allows for further revenue enhancement through the implementation of utility bill back programs and potential unit upgrades. The portfolio's strong performance, prime location, and value-add potential make it an attractive investment for discerning buyers. The properties were owner-managed and owned from construction until 2021.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lawton
- County
- Comanche
- State
- Oklahoma
- Longitude
- -98.3393
- Latitude
- 34.6025
