1901 Mississippi St Durant, OK 74701

Property Details for 1901 Mississippi St

Year built

1970

Lot size

10.00 lot acres

Property type

Commercial real estate

Description

This exceptional 150-unit apartment complex in Durant, Oklahoma, presents a compelling value-add investment opportunity. The property, built in 1970, comprises 124,116 net rentable square feet across 13 buildings situated on a 10-acre lot. Currently boasting 92% occupancy (as of January 18, 2024), the property offers a strong foundation for future growth. The diverse unit mix includes spacious one- to four-bedroom apartments, catering to a wide range of renters. Community amenities include a leasing office, on-site management, a large clubhouse, playground, basketball court, and dog park. The property's prime location in Durant, Bryan County, offers easy access to major transportation routes, including US Highway 69/75, connecting it to Dallas and Oklahoma City. Durant's steady population growth (approximately 18,400 residents) ensures a robust tenant pool. The asking price is $10,500,000, representing a price per unit of $70,000. This property presents a rare chance to acquire a well-located, established multifamily asset with significant upside potential. The property's attractive features, combined with the strong market fundamentals of Durant, Oklahoma, make this a highly desirable investment. An assumable financing option is available at a favorable interest rate.