3028 Arline St - Apartments FOR SALE


Muskogee, OK 74401
$1,050,000 USD
214-843-8502
3028 Arline St, Muskogee, OK for Sale
$1,050,000 USD
Apartments - FOR SALE
1/8
null | 7.8% Cap Rate

3028 Arline St
Muskogee, OK 74401


HIGHLIGHTS

  • Fully stabilized income with 15 of 16 units occupied; rent roll supported by executed leases.
  • Recent capital improvements include repainted entry doors for an updated exterior and washer/dryer units in select units.
  • Eight month-to-month leases allow for flexible rent growth implementation as early as June 2026.
  • Stabilized NOI of $85,885 achievable with no additional capital expenditures required.
  • Mix of market-rate and Section 8 tenants ensures consistent income and reduced collection risk.
  • Insurance premium re-shop presents an immediate NOI improvement opportunity.

OVERVIEW

Lyndenrod Apartments represents an investment opportunity in a 16-unit garden-style multifamily community located in Muskogee, Oklahoma. This well-maintained property offers a balanced unit mix of ten one-bedroom and six two-bedroom apartments, catering to a diverse tenant base. With current occupancy at 93.8% and 15 of 16 units fully leased, the property provides immediate income stability with documented leases rather than projections. The property features strong income fundamentals, generating gross annual rent of approximately $131,688 and a pro forma net operating income of $81,865, equating to a 7.8% cap rate. There is an additional income upside through planned June 2026 rent adjustments on eight month-to-month leases, which will further strengthen cash flow without requiring capital improvements. Recent enhancements include repainted entry doors for improved curb appeal and washer/dryer units installed in select apartments, supporting rent premiums. Residents benefit from proximity to major thoroughfares, employment centers, and local retail amenities within Muskogee, a market offering affordability and steady rental demand. With month-to-month leases providing a new owner immediate flexibility, coupled with opportunities such as insurance cost reviews and stable tenant income, Lyndenrod Apartments is positioned for both current yield and future growth potential.

FOR SALE DETAILS

PRICE

$1,050,000 USD

PRICE/SF

$89 USD /SF

# OF UNITS

16

PRICE/UNIT

$65,625

CAP RATE

7.8%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lyn-den Rod Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.49 AC

LAND SF

21,305 SF

ZONING

-

APN/PARCEL ID

12154

ASK ABOUT THIS PROPERTY

Caden FarmerSVN | Oak Realty AdvisorsMore Info
214-843-8502

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Caden FarmerSVN | Oak Realty AdvisorsMore Info
214-843-8502

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