- Extremely Attractive Assumable Debt at 3.06% Interest Near ~70% LTV!!
- Located in the Highly Desirable Norman, OK Submarket
- Upside Opportunity of $100/Unit (Per Month) Through Interior Cosmetic Improvements
- “A” Rating Zip Code According to Niche
- Optimal Unit Mix with Spacious Layouts
Extremely Attractive Assumable Debt at 3.06% Interest Near ~70% LTV!!
Sterling Park offers an incredible opportunity for an investor to assume the current debt at an attractive interest rate of 3.06%, which is well below current market rates. The in-place debt can also be assumed near ~70% LTV in line with current market leverage expectations.
Located in the Highly Desirable Norman, OK Submarket
Sterling Park is located in the heart of Norman, which is one of the most desirable submarkets in Oklahoma due to its strong economic fundamentals and high quality of life. Norman is home to several major employers, including the University of Oklahoma, which has a student population of over 30,000, and Norman Regional Hospital, one of the largest healthcare providers in the region. Investors can take advantage of Norman’s thriving retail and entertainment sector, convenient proximity to downtown employment via I-35, and attractive, established neighborhoods that appeal to renters from across Oklahoma.
Upside Opportunity of $100/Unit (Per Month) Through Interior Cosmetic Improvements
Current ownership has refreshed all unit interiors, but a more extensive value-add initiative is justified for this high-quality location in the Norman submarket which continues to have strong demand providing solid footing for rental growth. The surrounding comparable apartment communities further demonstrate the upside potential.