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7413 Melrose Lane

Oklahoma City OK 73127

24
16
40
14976 sq. ft.
42116 sq. ft.
Apartment
Currently for sale - view listing

Overview

Rock Property Group is pleased to present Melrose Oaks, a fully occupied, 16-unit, garden-style apartment community located in Oklahoma City, just minutes from I-40 and the OKC Outlet Shoppes. The property offers stabilized in-place cash flow with significant value-add upside through a straightforward mark-to-market rent strategy and operational improvements available to a hands-on owner. Located in a federally designated Opportunity Zone, offering investors significant capital gains tax advantages including deferral and potential full exclusion on appreciation after a 10-year hold. Currently operating at 100% occupancy with a long-tenured tenant base, Melrose Oaks is positioned approximately $100 below market rents per unit — representing roughly $19,200 in annualized rent upside before factoring in additional operational improvements. A new owner has the opportunity to capture market rents through organic turnover, light interior upgrades, and ancillary income enhancements such as RUBS implementation for water/sewer. The property consists of four two-story buildings with four units each, totaling 16 spacious 2-bedroom / 1-bathroom units averaging 850 SF. The brick construction, pitched roof (replaced 2019), and individually-metered electric service provide a durable foundation. The property has recently had the parking lot restriped and sealed. Contact Rock Property Group for Offering Memorandum and Current Financials. Broker discloses a minority ownership in the property.

Features

24 bedrooms
16 bathrooms
40 carspaces
14976 sq. ft. floor area
42116 sq. ft. lot size
Apartment

Property history for 7413 Melrose Lane

2019
Sold
$325,000
27 Dec 2019

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Local market activity for 24 bedroom apartments in Oklahoma City

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