501 Carlsbad St Owasso, OK 74055-2330

This exceptional 40-unit apartment building in Owasso, Oklahoma, presents a compelling value-add investment opportunity. Located at 501 N Carlsbad St, 74055, this Class B property boasts 34,725 net rentable square feet situated on a 2.07-acre lot. The property, comprised of 12 single-story buildings, underwent extensive exterior renovations in 2021, including new windows, roofs, gutters, paint, siding, and masonry work, as well as new iron privacy fencing. Currently operating at 90% occupancy with an occupancy date of August 9th, 2024, the property features a leasing office and laundry facility. A proven interior renovation strategy is in place, projected to increase rental rates by $200-$300 per unit. The property benefits from a prime location near the Redbud District, ensuring high demand and long-term value. The strong Owasso real estate market and ongoing development in the area further enhance the investment potential. Additional community amenities are possible given the available space. 24-hour maintenance is available on call. The asking price for this well-maintained, high-potential property is $4,300,000.