6401 Oak Ave Lawton, OK 73505

Property Details for 6401 Oak Ave

Year built

1979

Lot size

0.81 lot acres

Property size

16,155 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a 25-unit apartment complex in Lawton, Oklahoma. The property, built in 1979, comprises four two-story buildings totaling 16,155 square feet on a 0.81-acre lot. Currently boasting 100% occupancy, the property offers significant value-add potential. The 25 units average 646 square feet, with most featuring one bedroom and one bathroom. Currently, the average monthly rent is $451, considerably below market rates, presenting immediate upside potential for increased income. A significant portion of tenants (approximately 70%) are on month-to-month leases, providing flexibility for implementing rent increases. Furthermore, the current owner covers all utilities except electricity, offering another avenue for substantial revenue enhancement by implementing utility pass-through billing to tenants. This property's strong cash flow, coupled with the below-market rents and high occupancy rate, makes it an attractive investment for those seeking immediate returns and long-term growth. The property's location in Lawton, OK, at 6401 NW Oak Ave, zip code 73505, provides convenient access to local amenities and services. This is a rare chance to acquire a well-located, multifamily property with immediate income generation and significant upside potential.