3398 E 6th Ave - Apartments FOR SALE


Stillwater, OK 74074
$3,500,000 USD
918-845-7669
3398 E 6th Ave, Stillwater, OK for Sale
$3,500,000 USD
Apartments - FOR SALE
1/16
null | Request Cap Rate

3398 E 6th Ave
Stillwater, OK 74074


HIGHLIGHTS

  • Excellent Occupancy Rates and Value-Add Potential
  • Close Proximity to Major Employers and Oklahoma State University

OVERVIEW

Legacy CP Advisors is proud to present the exclusive listing for The Creekside Apartments, a premier multifamily investment opportunity in the thriving market of Stillwater, Oklahoma. This meticulously maintained asset, built in 2007 and 2008, consists of 8 one-bedroom and 32 two-bedroom units, offering spacious and modern living arrangements that cater to tenant preferences in a highly desirable location. Strategically positioned with frontage on one of the city’s main thoroughfares, Creekside Apartments is just minutes away from major employers, renowned educational institutions like Oklahoma State University, and the city's vibrant array of amenities and attractions. The property provides investors the chance to acquire a stabilized asset with strong fundamentals, boasting excellent occupancy rates and value-add potential. Property Highlights Unit Mix: One- and two-bedroom units averaging 795 square feet, each featuring a full suite of in-unit amenities, including washer/dryer, walk-in closets, pantries, private patios/balconies, and modern appliances. Location: Nestled in a peaceful, tree-lined area just off the main entry thoroughfare into Stillwater, offering both convenience and a serene living environment. Market Strength: Stillwater is one of Oklahoma’s most attractive rental markets, driven by a growing population of 50,000, with 69% of households being renters. The submarket's strong fundamentals include a 6.6% overall vacancy rate, 2.4% vacancy for comparable properties, and 3-4% annual rent growth. Investment Opportunity: With no new multifamily developments delivered in the past 24 months and none in the pipeline, Creekside benefits from minimal competition, contributing to longer tenant retention and reduced operating costs. Assumable Financing: The current loan balance of $2.35 million comes with an attractive 3.6% fixed interest rate until May 2029, providing new ownership with financing terms that surpass what’s available in today’s market. This offering presents a rare opportunity to acquire a well-positioned asset in Stillwater, a city known for its economic stability, growing rental demand, and limited housing supply. Creekside Apartments is primed to provide investors with consistent cash flow, long-term appreciation potential, and a secure foothold in one of Oklahoma's top-performing markets.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$110 USD /SF

# OF UNITS

40

PRICE/UNIT

$87,500

CAP RATE

Request Cap Rate

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Creekside Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2008

PARKING SPACES

177

LAND DETAILS

LAND ACRES

3.35 AC

LAND SF

145,926 SF

ZONING

o

APN/PARCEL ID

600007341

ASK ABOUT THIS PROPERTY

Carey VelezLegacy Commercial Property AdvisorsMore Info
918-845-7669

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Carey VelezLegacy Commercial Property AdvisorsMore Info
918-845-7669

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