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166 W 1500 S
Bountiful, UT 84010

6000 Will Rogers Road - Chestnut Square Apartments

Midwest City, OK 73110-2603 - Midwest City MF Submarket

Property Type:Multi-Family Number of Units:104 Status:Existing Year Built:1972
Stories:2 Building Size:94,664 SF Land Area:3.67 AC (159,865 SF)
For Sale Price:For Sale Price/Unit:- Cap Rate:- GRM:-

Parking:1.27 Parking Spaces / 1,000 SF

Sale Notes:
Chestnut Square is a 104 unit apartment complex located in Midwest City, OK. It is located within walking distance of Rose State College, a Walmart Supercenter, and a Home Depot. The Midwest City Convention Center is within a few blocks of the complex. Tinker Air Force Base is also close by and is the State' s largest employer.
The property is comprised of 8 separate two story buildings with the following breakdown of apartment units:
1 bedroom 48 units Rents from $425 to $475
2 bedroom 48 units Rents from $460 to $695
3 bedroom 8 units Rents from $710 to $725
The apartment units contain from 750 to over 1200 square feet, making them some of the largest in the area.
Chestnut contains a swimming pool, and a large laundry room. The City of Midwest City provides water, sewer and trash services to the property, and electricity is provided by Oklahoma Gas and Electric Company.

Midwest City is a growing, progressive community located minutes from downtown Oklahoma City. With a population of approximately 60,000. It is located near the major national distribution hub of I-40, I-35 and I-44.

The City has undertaken two major redevelopment projects in the last 15 years. The first project, near the intersection of Will Rogers and Sooner Roads, facilitated the opening of a Home Depot, and construction of a new 65,000 square foot conference center and 150 room full service Hotel. The hotel and conference center anchor the Hospitality District which contains five other national hotels. Chestnut Square is located a few blocks from this District.

The second project, now known as Town Center Plaza, involved the assemblage, clearance and redevelopment of approximately 90 acres of property fronting on I-40 across from Tinker Air Force Base' s main gate.

After the city significantly updated and modernized the public improvement in the area, the property was leased to a national retail development company and currently contains Target, Lowe's, Kohls, & Marshalls as anchors. The shopping complex also contains restaurants and small/medium sized retailers.

Accepting offers until october 7, 2016

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