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Archived over 2 years ago

$450,000

rooms 4+ ba 6295 sqft

719 N 14th St, Ponca City, OK 74601, Ponca, OK 74601

Commercial Multifamily

Current Rent **

$10,000+

Projected Rent **

$10,000+

Estimated Cap Rate *

Pro Only

Estimated Cash on Cash ROI *

Pro Only

Turnkey 12 Units with great cash flow and cap rate!

719 N. 14th St. Ponca City, OK 74601

Turnkey 12 Units

(11) Studio & 1 bath

(1) 2 bed/ 1 bath – Occupied by Manager

Short- and long-term rentals – Some tenants have been there 5+ years. Indian tribe will rent as many available units as possible and pay upfront for 3 months at a time.

2 buildings

Sq Ft – 6,295

Year Built - 1950

Renovated in 2022 – Some units could use some minor cosmetic updating but they all continue to rent.

Studios rent for $700 per month. Little to no vacancy!

All Utilities are paid by owner

Washer/Dryer facilities

Purchase price - $450,000

Terms – Cash or Hard/Private Money

No Owner Financing Available

Cap rate – 13%!

COC Return (with permanent financing) – 20%+!

Gross Income:

$92,400

Effective Gross Income: $92,400

Expenses:

$34,553 (includes management)

NOI - $57,647

Earnest money is $5,000 and you will have some due diligence time before it becomes non-refundable. Closing to occur before December 30, 2022.

OM and other expenses available to serious buyers.

Location:

719 N 14th St, Ponca City, OK 74601, Ponca, OK 74601

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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.

** Current rent and projected rent are provided by the lister.

† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.

‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.