1302 Watson Dr - Apartments FOR SALE


Anadarko, OK 73005
$2,950,000 USD
918-850-1779
1302 Watson Dr, Anadarko, OK for Sale
$2,950,000 USD
Apartments - FOR SALE
1/6
null | 7.19% Cap Rate

1302 Watson Dr
Anadarko, OK 73005


OVERVIEW

SVN is pleased to offer Crossing of Anadarko a 40 unit apartment community. Positioned near major employers and developments such as the Western Farmers Electric Cooperative expansion, the property benefits from strong local demand, supporting long-term rental stability and consistent leasing activity. Current average in-place rents of $695 sit 15% below the competitive submarket average of $803, presenting a clear mark-to-market opportunity. By capturing this upside and implementing operational efficiencies, Year 5 pro forma operations project NOI to reach $256,403, driving significant long-term value creation. Offered at $2.95M, the asset delivers an attractive 7.19% going-in cap rate based on a T12 NOI of $212,073. The investment is projected to yield a 5-year levered IRR of 12.41% and a 1.72x equity multiple. The 40-unit community features a highly desirable mix where 80% of the property consists of spacious two- and three-bedroom layouts. This configuration caters to localfamilies and ensures strong tenant retention

FOR SALE DETAILS

PRICE

$2,950,000 USD

PRICE/SF

$72 USD /SF

# OF UNITS

40

PRICE/UNIT

$73,750

CAP RATE

7.19%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Crossings in Anadarko

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

61

LAND DETAILS

LAND ACRES

4 AC

LAND SF

174,240 SF

ZONING

R6

APN/PARCEL ID

3500-14-004-BLK-4-174-00

ASK ABOUT THIS PROPERTY

Raymond LordSVN OAK Realty Advisors LLCMore Info
918-850-1779

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Raymond LordSVN OAK Realty Advisors LLCMore Info
918-850-1779

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