301 E Washington Ave - Apartments FOR SALE


Mcalester, OK 74501
$6,500,000 USD
918-853-9182
301 E Washington Ave, Mcalester, OK for Sale
$6,500,000 USD
Apartments - FOR SALE
1/14
null | 7.71% Cap Rate

301 E Washington Ave
Mcalester, OK 74501


HIGHLIGHTS

  • High Occupancy Rate: Current occupancy at 96%, showcasing strong demand.
  • Recent Renovations: Significant capital improvements, including unit and common area renovations, updated HVAC systems, new boiler and chillers.
  • Prime Market Location: Situated in McAlester, a regional economic hub with a growing population and stable demand for premium residential housing.
  • Diverse Tenant Base: The property’s amenities and unit mix appeal to a wide range of tenants, ensuring long-term occupancy and stable cash flow.
  • Washington Court presents an excellent opportunity for investors looking to acquire a wellmaintained, high-occupancy property in a stable and expandin

OVERVIEW

Located in the vibrant city of McAlester, Oklahoma, Washington Court Apartments offer a prime residential opportunity with 87 units across two phases built in 1986 and 1999. With an impressive 96% occupancy rate, this property is a sought-after choice for a diverse resident demographic, including seniors and young professionals. Strategically situated near essential amenities like shopping centers, schools, and healthcare facilities, Washington Court ensures convenience and comfort for its residents. Priced at $6,500,000 with a 7.71% cap rate, this property presents a lucrative investment opportunity. Boasting a total rentable area of 78,000 SF on approximately 1.87 acres of land, Washington Court features well-maintained wood frame construction with brick exteriors. Recent renovations from 2022 to 2024 have updated HVAC systems, ensuring modern comfort for residents. Don't miss the chance to own this premier multifamily residential community at 301 E. Washington Ave, McAlester, OK.

FOR SALE DETAILS

PRICE

$6,500,000 USD

PRICE/SF

$108 USD /SF

# OF UNITS

87

PRICE/UNIT

$74,713

CAP RATE

7.71%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Washington Court Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1986

PARKING SPACES

35

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,075 SF

ZONING

-

APN/PARCEL ID

0100-00-298-004-0-004-00

ASK ABOUT THIS PROPERTY

Kevin KingMCP / McGraw Commercial PropertiesMore Info
918-853-9182

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Kevin KingMCP / McGraw Commercial PropertiesMore Info
918-853-9182

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