320 Grand Ave Okmulgee, OK 74447

Property Details for 320 Grand Ave

Year built

1920

Property size

4,500 SF

Property type

Commercial real estate

Description

Exceptional investment opportunity in downtown Okmulgee, Oklahoma. This 10-unit apartment building, originally constructed in 1920, has undergone a complete renovation in 2024. The property boasts 4,500 square feet and features brand new flooring, paint, appliances, fixtures, HVAC mini-split systems, plumbing, and electrical. A new TPO roof has also been installed. The asking price is $775,000, representing a price per unit of $77,500 and a price per square foot of $172.22. The property generates a strong net operating income (NOI) of $81,680, resulting in a compelling 10.54% capitalization rate. An additional lot (4,404 sq ft) is included, providing ample space for parking improvements, potentially including covered parking. This lot also presents the opportunity to create a gated entrance and courtyard area. The building's location in downtown Okmulgee caters to the growing demand for housing among students and young professionals. This property offers significant potential for future appreciation and presents a unique opportunity to own a renovated, income-producing asset in a revitalizing urban core. The two-story building sits on a single lot at 320 N Grand Ave, Okmulgee, OK 74447.