1010 Lovers Lane ln - Apartments FOR SALE


Perkins, OK 74059
$5,250,000 USD
918-809-7775
1010 Lovers Lane ln, Perkins, OK for Sale
$5,250,000 USD
Apartments - FOR SALE
1/30
null | 4.49% Cap Rate

1010 Lovers Lane ln
Perkins, OK 74059


HIGHLIGHTS

  • 100% Occupied. OSU Rental Market. New Construction. Upside with ability to Increase Rents.

OVERVIEW

Companion Park is a newly constructed 17-unit build-to-rent multifamily community located at 1010 Lovers Lane in Perkins, Oklahoma, positioned just minutes from Stillwater and Oklahoma State University. Completed in phases with the final duplex buildings delivered in August and September 2025, the property consists primarily of modern duplex residences along with a detached single-family home, providing an attractive rental product in a market with strong housing demand. The property is fully occupied with a diversified lease schedule extending through 2026 and 2027, demonstrating strong tenant retention and stable income performance. The community has experienced minimal turnover, averaging approximately 15 days between tenants, reflecting the desirability of the units and the surrounding area. Companion Park currently generates approximately $310,200 in annual rental income, projected to increase to approximately $312,000 by August 2026. Operating expenses remain exceptionally efficient due to the property's new construction, tenant-paid utilities, and limited maintenance requirements, resulting in an expense ratio of roughly 24%. The community benefits from recent improvements including perimeter fencing, with additional curb appeal enhancements planned such as decorative stone and brick entry columns with ranch rail frontage fencing. Key operational highlights include: • 17-unit stabilized multifamily asset • Modern duplex construction completed in 2025 • Strong in-place income with projected rent growth • 100% occupied with staggered lease expirations • Tenant-paid utilities • Low operating expenses and minimal deferred maintenance • Average tenant turnover of approximately 15 days • Strong rental demand in the Perkins–Stillwater corridor Companion Park represents a turn-key investment opportunity offering stable cash flow, minimal operational risk, and long-term appreciation potential within one of north-central Oklahoma’s most stable rental markets.

FOR SALE DETAILS

PRICE

$5,250,000 USD

PRICE/SF

$222 USD /SF

# OF UNITS

17

PRICE/UNIT

$308,824

CAP RATE

4.49%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Companion Park Duplexes

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3 AC

LAND SF

130,680 SF

ZONING

Residential

APN/PARCEL ID

600011783

ASK ABOUT THIS PROPERTY

David PunnettPremier Real Estate Leasing Company LLCMore Info
918-809-7775

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David PunnettPremier Real Estate Leasing Company LLCMore Info
918-809-7775

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.