7295 E Us Highway 270 McAlester, OK 74501

Property Details for 7295 E Us Highway 270

Year built

2007

Property size

15,964 SF

Property type

Apartment buildings

Description

Investment Highlights Cap Rate: With a robust 7.8% cap rate , this well-maintained property provides potential buyers with a solid return on investment. Stable Occupancy: The complex has maintained 100% occupancy with a vacancy rate of less than 2% throughout its life, showcasing long-term tenant stability and minimizing investor risk. Upside Potential: Each unit is separately metered for electricity , allowing the new owner to shift electricity costs to tenants , which can significantly increase the net operating income (NOI). Owner Financing: The seller is willing to consider owner financing up to $500,000 , offering flexibility for potential buyers. Well-Maintained: The property is in excellent condition , requiring no immediate capital expenditures, making it an attractive turnkey investment. Garage Parking: All units feature one or two-car garages , enhancing tenant satisfaction and ensuring continued high occupancy. Prime Location: Less than four miles east of McAlester , Oklahoma city limits, on Highway 270 , the complex benefits from easy access to local amenities and employment centers within the Township of Alderville . Demographic and Market Highlights Proximity to McAlester: Alderson is conveniently located just outside McAlester, a growing economic hub in southeastern Oklahoma. McAlester is known for its robust local economy, driven by healthcare, manufacturing, and retail industries. The proximity offers residents easy access to employment, healthcare facilities, and shopping centers in McAlester. Population Growth: The McAlester area has experienced steady population growth over the years, driven by its status as a regional center for commerce and employment. This growth translates to a consistent demand for quality rental housing, making this townhome community well-positioned for long-term tenant stability. Affordable Living: The cost of living in Alderson and McAlester is notably lower than national averages, making the area attractive to families and individuals seeking affordable housing while enjoying access to essential amenities and services. Community Appeal: Alderson offers a quiet, small-town atmosphere with a tight-knit community feel, appealing to renters looking for a safe, peaceful living environment. Combined with McAlester’s more urban conveniences, this location offers residents the best of both worlds. Strong Rental Demand: As a regional center for industry and healthcare, McAlester has a high demand for rental housing, with many professionals, families, and retirees seeking quality rental properties. The townhome community benefits from this stable demand, contributing to its historically low vacancy rates. Access to Amenities: McAlester provides residents with various amenities, including shopping centers, restaurants, parks, and healthcare services. Key attractions like the McAlester Regional Health Center and downtown McAlester's commercial district are within a short drive, adding to the desirability of the property’s location. Education Opportunities: The area is served by McAlester Public Schools, offering quality education options for families with children, further enhancing the community's appeal for long-term tenants. Recreational Opportunities: The nearby Eufaula Lake, one of Oklahoma’s largest lakes, provides recreational opportunities for residents, including boating, fishing, and camping, which adds to the overall quality of life in the region. Why do people live here? 1. Affordable Cost of Living McAlester offers a lower cost of living than the national average, making it an attractive option for individuals and families looking to stretch their income further. Housing, utilities, and daily expenses are more affordable, providing a higher quality of life on a modest budget. 2. Economic Opportunities McAlester is a growing economic hub in southeastern Oklahoma. It benefits from diverse industries, including healthcare, manufacturing, and energy, creating steady job opportunities. The city also has employers like McAlester Army Ammunition Plant , contributing to the region’s economy. 3. Small-Town Charm with Access to Urban Amenities While McAlester maintains a small-town atmosphere, it offers access to essential amenities such as shopping centers, restaurants, and healthcare facilities. The nearby city of Tulsa provides additional urban amenities for those who want a larger city experience within driving distance. 4. Outdoor Recreation McAlester is located near Lake Eufaula , one of Oklahoma’s largest lakes, which offers boating, fishing, and camping opportunities. The city is also surrounded by parks and nature trails, making it ideal for outdoor enthusiasts. Residents can enjoy various outdoor activities, from hiking to water sports, within a short drive from their homes. 5. Good Education System The area is served by the McAlester Public Schools and also has access to higher education through institutions like Eastern Oklahoma State College and Kiamichi Technology Centers . This provides a solid foundation for families with children or those seeking continued education. 6. Tight-Knit Community McAlester offers a close-knit community atmosphere where neighbors know each other, and there is a strong sense of local pride. This is appealing to those looking for a more relaxed, community-oriented lifestyle away from the fast pace of larger cities. 7. Cultural and Historical Significance The city has a rich history and culture, particularly connected to Native American heritage and the energy industry. This provides residents with a unique sense of place and various local historical sites and cultural activities to explore. 8. Incentives for Relocation Oklahoma and McAlester, specifically, offer a variety of incentives for businesses and workers . Programs like Opportunity Zones , Ad Valorem Tax Exemptions , and other local and state-level incentives attract businesses, which helps to create a growing job market and community development. Reference: Welcome to Oklahoma's Official Web Site City of McAlester City of McAlester Employment & Business Opportunity Alderson (McAlester, Oklahoma), offers a variety of attractive city, county, and state incentives for businesses looking to relocate or expand. Here are some key incentives that can benefit enterprises to moving to the area: State-Level Incentives: Quality Jobs Program: This program provides quarterly cash payments up to 5% of new payroll for businesses that create jobs with above-average wages. It can run for up to 10 years for companies that meet job creation and wage requirements. Investment/New Jobs Tax Credit: Businesses investing in depreciable property or adding full-time employees qualify for a tax credit. This is particularly advantageous for manufacturers or companies making significant capital investments. Oklahoma Rural Jobs Act: Provides access to capital for small businesses in rural areas, with tax credits for investors who fund these businesses, promoting job creation and economic growth in smaller communities like McAlester. County and City-Level Incentives: Opportunity Zones: Parts of McAlester fall within federally designated Opportunity Zones, allowing businesses to benefit from deferred and reduced federal capital gains taxes when investing in these areas. Ad Valorem Tax Exemption: A five-year tax exemption is available for new or expanding facilities in manufacturing, research and development, and distribution. McAlester Jobs Program: This local initiative supports job creation by offering additional incentives for businesses that generate employment opportunities in the region. Development Block Grants (CDBG): Through local partnerships, businesses can qualify for grants for economic development projects that create jobs and improve infrastructure. Other Incentives: Foreign Trade Zones (FTZ): Businesses importing products can benefit from reduced customs duties and exemptions from local taxes, making McAlester attractive for international trade operations. Workforce Tax Credits: Companies hiring in specific high-demand sectors like aerospace or automotive engineering may qualify for tax credits based on the wages paid to new employees. These incentives make McAlester an attractive location for business growth, with significant opportunities to reduce operational costs and enhance profitability. For more detailed information, explore resources from the Oklahoma Department of Commerce and the City of McAlester .

Location Insight

City

McAlester

County

Pittsburg

State

Oklahoma

Longitude

-95.651727

Latitude

34.894684