1506 7Th Ave, Durant, OK 74701

This Multifamily Portfolio Investment is being Offered with new Renovations performed to Interior and Exterior with considerably Value-Add aspects that are attributed towards a growing Percentage on the Cap Rate with more Interior Units currently being Renovated. The Investment at hand has received extensive Cap Ex within the past Year in regard to Roof Replacements, Parking Lot Resurfacing, Water and Sewer Line Replacements, and Interior Renovations to nearly Half of the Total Units at stake. With a Value-Add Program in place, there is opportunity to boost the Revenue further through a continuance of this Program with the existing foundation laid for the next Investor looking to capitalize on a growing Return. The Investment at hand consists of a mixture of a bulk One-Bedroom Category for College Inn currently hosting 95% Occupancy, another bulk Two Bedroom Category in Wood Manor that is also 95% Occupied, and also an existing Three Bedroom Category in Wood Manor that is capitalizing on higher Rents enhanced by the recently performed Renovations. The Pro Forma Analysis performed is primarily based upon the minimizing of the Delta between minimum and maximum Rents set for further stabilization in the Occupancy. College Inn and Wood Manor are both conveniently Located on the border of Southeastern Oklahoma State University's Campus providing stability in the Occupancy and a greater standard for highly frequented Lease Turnover Periods with the College Students at hand. The Total Student Population throughout both of these Properties is variable but can be estimated to be anywhere from 50-60% of the Tenant Base at hand with a Lease Requirement for Proof of Current Job Holding, Financial Aid, or a Parental Guarantee with Income proving to be 5x the Rent; this provides the Standard for Tenant Qualification and retainment. In summation, this Investment will host an opportunity to host an upward trajectory in the Rental Perfromance while also holding onto the existing Occupancy Levels through upheld Demand in the Area, this being a Record Breaking Enrollment for September of 2022 further hosting steadily growing University and Population in Durant with great Employers at hand.