Summary:
The Multifamily Group is pleased to present Heritage Ridge, a 112-unit apartment community
located in Oklahoma City, Oklahoma. With current occupancy at approximately 93%, Heritage
Ridge represents a stabilized, well-maintained investment opportunity featuring significant
completed capital improvements and strong upside potential. Originally constructed in 1972,
the property has benefited from more than $1.9 million in capital expenditures, including:
? Extensive unit renovations (~80% completed)
? Full Siding Replacement
? Exterior painting
? Parking lot improvements
? Roof replacements
? Adding a Gazebo and Dog Park
? Office upgrades
? 36-Camera Security System
Value-Add:
While ownership has completed substantial renovations throughout the community, several
opportunities remain for a new owner to continue enhancing revenue and property performance:
» Renovate remaining units
» Implement RUBS for water
» Increase ancillary income through pet fees, pet rent, and administrative fees
» Renovate the laundry room
Location:
Heritage Ridge is located in northwest Oklahoma City with convenient access to I-40, I-44, and
downtown Oklahoma City. The property is near major employers including Tinker Air Force
Base, Amazon, INTEGRIS Health, and Will Rogers International Airport. Strong area demographics,
a $58,000+ median household income, and proximity to employment centers support
continued demand for workforce housing.