Oklahoma Apts LLC is an investment in a stabilized cash flowing apartment community called the Lofts at North Penn. The thirteen building, 192-unit, Class-A multi-family property is located on 10 acres of land on the edge of Oklahoma City, in Edmond, Oklahoma.
Newly built in 2018, the community consists of two- and three-bedroom units that average 921 square feet. Each building has pitched roofs with brick and vinyl exteriors. The beautifully landscaped property features ample parking with room for 410 cars and has easy access to downtown Oklahoma City. The pet friendly community features a heated outdoor swimming pool, clubroom, business center, dog park, playground, garages, and in-unit washer/dryers. While the property was built recently, some of the finishes are dated with room for modernization. While improvements are being made, the property will cash flow.
Edmond is located 13 miles north of downtown Oklahoma City and 30 minutes away from Will Rogers World Airport. Edmond is regarded as the crown jewel of Oklahoma City. The upscale suburb has approximately 80,000 residents with an average age of 35 years old. Considered extremely safe with low crime rates and made up of young families, the town is also home to numerous professional athletes and local CEO’s.
Nearby Oklahoma 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 purchase in January 2022.