- Offered at an Attractive Basis
- Strategically Located Near Economic Drivers, Shopping & Entertainment
- Significant Yield Increase After Value-Add Implementation
- Offered Free and Clear of Existing Debt
Offered at an Attractive Basis
Castle Towers is offered at an exceptionally attractive all-in basis post-improvements. Comparable properties of similar vintage have traded between $80k/unit-$65k/unit over the last 2 years, while Castle Towers is offered well below recent the recent sale comps after improvements. This initial cost advantage will allow new ownership to facilitate the generation of positive cash flow with greater ease, enhancing the property’s overall return on investment while providing a buffer against market fluctuations and economic uncertainty.
Strategically Located Near Economic Drivers, Shopping & Entertainment
Castle Towers is surrounded by economic drivers such as Windsor Hills Shopping Mall and Icon Movie Theater, providing quality shopping and entertainment options for residents. OKC Outlets, located just 10 minutes from the property, offers a diverse range of renowned brands such as Coach, Nike Factory Store, and others, making it a significant draw for the community. Castle Towers also offers convenient highway access to I-44 and I-40, connecting residents to all that downtown Oklahoma City has to offer. Major employers such as Integris Health Baptist Medical Center are only about ten minutes from the property. Proximity to Wiley Post Airport, Will Rogers World Airport, and Putnam High School further enhance the property’s appeal and convenience. Oklahoma City Community College, the largest community college in the state, is only fifteen minutes from the property.
8%+ Yield on Cost After Value-Add Implementation
Currently at 87% occupancy, Castle Towers presents an opportunity for a value-add strategy. Once a new owner stabilizes operations and addresses exterior and interior needs, the property is poised to generate an 8% yield on cost.