Muntage Apts LLC is an investment in a stabilized cash flowing apartment community called Muntage Apartments. The fourteen building, 165-unit, value-add multi-family property is located on 5.5 acres of land in northwest Oklahoma City. The community is located in a strong school district. The property was originally built in 1964 and the team has thoughtful plans to upgrade the property.
The property consists of 87 one-bedroom units and 78 two-bedroom units and average 883 square feet per unit. Muntage offers a competitive amenity package that includes: a pool, two laundry facilities coupled with a resident lounge, a playground, park, and covered parking. In-unit amenities include: lighted ceiling fans in the living room and bedroom(s), spacious closets, private enclosed patios and wood burning fireplaces in select units. The renovations to unit interiors, building exteriors, and common areas along with the realization of cost savings measures will allow for continued cash flow throughout the renovation period.
Muntage Apartments has superb accessibility with major highway corridors only minutes away. The property is only 4 miles from the city’s Central Business District and within 6 miles of major shopping opportunities. Additionally, The Will Rogers World Airport is less than 10 miles south of the community.
Oklahoma City is one the most desirable cities in the country to live in, with favorable demographics and key economic indicators that are stronger across the board than national averages. The city has nearly 1.5 million residents and growth of over 15% during the past decade. The City’s diverse business landscape consists of major employers in aerospace, biosciences, manufacturing, healthcare, education, and finance, including a growing base of private companies headquartered in the Metro area. Several local businesses have received accolades for their success including Love’s Travel Stops, which ranks 17th on Forbes’ list of America’s Largest Private Companies, software giant Paycom ranks 18th among Fortune’s 100 Fastest-Growing Companies and Hobby Lobby, BancFirst, INTEGRIS Health, and Love’s are all included in Forbes’ 2020 list of America’s Best Employers.
This property was purchased in May 2022.