320 S Morton Ave - Apartments FOR SALE


Okmulgee, OK 74447
$399,000 USD
918-510-0887
320 S Morton Ave, Okmulgee, OK for Sale
$399,000 USD
Apartments - FOR SALE
1/49
null | Request Cap Rate

320 S Morton Ave
Okmulgee, OK 74447


HIGHLIGHTS

  • Portfolio offering includes 12-unit apartment building plus two leased single-family homes.
  • Recent capital improvements include a new roof and updated plumbing in six apartment units.
  • Apartment building features individual electric and gas meters and a basement laundry facility.
  • Two single-family homes provide immediate rental income during redevelopment.
  • Located near downtown Okmulgee with easy access to U.S. Highway 75 and regional employment hubs.

OVERVIEW

This multifamily investment opportunity in Okmulgee, Oklahoma, offers a compelling value-add or redevelopment play for investors seeking scale and upside. The property consists of a three-story apartment building with twelve one-bedroom units and two adjacent single-family rental homes, totaling fourteen units in one location. While the apartment building is currently vacant and requires interior completion before occupancy, significant progress has been made, including a new roof and updated plumbing and drains in six units. The building is individually metered for electric and gas, with a shared water meter, and features a basement laundry facility. The two single-family homes, a two-bedroom/one-bath and a one-bedroom/one-bath, are currently leased, providing immediate income during the repositioning phase. Both homes have separate utility connections, with tenants responsible for their own gas, electric, and water. Located near downtown Okmulgee, the property benefits from proximity to local amenities, schools, and major routes, including U.S. Highway 75, which connects to Tulsa approximately 40 miles north. This location offers convenient access to employment centers while maintaining a small-town community feel. With 0% occupancy in the apartment building and deferred maintenance, this asset is ideal for experienced investors or developers looking to implement a full renovation strategy or explore alternative uses. At an asking price of $399,000, the property presents a rare opportunity to acquire a portfolio-style investment with strong repositioning potential in a market with limited multifamily supply.

FOR SALE DETAILS

PRICE

$399,000 USD

PRICE/SF

$39 USD /SF

# OF UNITS

14

PRICE/UNIT

$28,500

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,635 SF

ZONING

-

APN/PARCEL ID

1100-00-116-005-0-001-00

ASK ABOUT THIS PROPERTY

Jamie GoodnightKeller Williams AdvantageMore Info
918-510-0887

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Jamie GoodnightKeller Williams AdvantageMore Info
918-510-0887

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