- Ability to Capture $130+ Per Unit in Value-Add Upside
- Huge Opportunity for ~$200,000+ in Additional Revenue
- Opportunity to Unlock Substantial Operational Upside
- Located in Highly Sought-After Norman Suburb
- Offered Free and Clear of Existing Debt
$130+/UNIT IN VALUE-ADD UPSIDE WITH MODERNIZATION | ~$200K+ in Additional Revenue
Constructed in 1972, Presidential Gardens hasn’t undergone any systematic repositioning to modernize interiors and better meet resident demands since the late 90’s. As a result, there’s substantial room to grow rents, especially in well sought-after submarket that’s currently outpacing greater Oklahoma City in YOY rent growth.
A complete interior renovation strategy inclusive of upgraded bathrooms, kitchens, cabinetry, countertops, and appliances combined with the installation of new vinyl flooring and upgraded lighting packages throughout enables the ability to significantly push annual rental income ~$200,000+!
OPPORTUNITY TO CAPTURE SUBSTANTIAL OPERATIONAL UPSIDE
Presidential Gardens presents the opportunity to acquire substantial upside through professional management, aggressive leading and property modernization throughout. The property has been managed and maintained by a single owner for the last three decades (only one owner removed from the original developer). New ownership has the ability to implement strategic operational efficiencies with optimal ease.
SITUATED IN ONE OF THE MOST SOUGHT-AFTER SUBURBS IN OKLAHOMA
Located in Cleveland County, the city of Norman is one of the most sought-after suburbs in the entire state, due to its proximity to the University of Oklahoma as well as a multitude of quality parks, retail, and dining destinations. With vacancy hovering at 4.9% and 8% YOY rent growth in the submarket, the clear multifamily demand in Norman is above the Oklahoma City average.
Whether it is a quick drive to Lions Park, a walk through the art galleries of Fred Jones Museum of Art, or a lively Sooner Football game in the beautiful facilities at Gaylord Family Stadium, residents have plenty of options and great amenities in this highly sought-after Oklahoma Submarket.