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Georgia Place Apartments

$625,000

100 Georgia Place, Poteau, OK 74953

Active
Last Updated: 09/29/2026

6,904 sqft

Building Size

100

Occupancy

Details:
Building Size:    6,904 sqft
Occupancy:    100%
Units:    11
Floors:    1
Highlights:
  • 11 units (6× 1BR, 5× 2BR) · 7,201 SF · two buildings
  • 100% occupied — the portfolio's only fully-leased asset
  • Spring 2026 leases signed at the top of the property's range prove the market
  • ~6% loss-to-lease captured through renewals alone — no renovation required
  • ~$84,700 reinvested since 2025 (roofing and unit repairs)
  • Pro forma built on actual 2025 taxes ($1,487) and actual in-force insurance
  • 8.6% Year 1 cap · 1.29x DSCR at 75% LTV / 6.5% / 20-yr
  • Offered standalone or within the 3-property Poteau Apartments Portfolio
Description:

Eleven units — six one-bedroom and five two-bedroom — across 7,201 rentable square feet in two buildings at 100 Georgia Place. The property is 100% occupied on the current rent roll, the only fully-leased asset in the portfolio, with three new leases signed in spring 2026 at the top of the property's range establishing the achievable market. Current ownership has reinvested approximately $84,700 since 2025 in roofing and unit repairs, and the pro forma carries actual 2025 property taxes and the actual in-force insurance premium rather than estimates. With rents roughly 6% below market, the buyer's path is simple: hold occupancy and mark rents to market as leases renew. 100 Georgia Place is offered standalone or as part of the three-property Poteau Apartments Portfolio.

100 Georgia Place is located in Poteau, OK — the LeFlore County seat and commercial hub of eastern Oklahoma. The property sits within Poteau's established residential core, with direct access to U.S. Highways 59 and 271 and proximity to the city's primary employers: Eastern Oklahoma Medical Center, the Choctaw Nation of Oklahoma's regional health facilities, Walmart, OK Foods, the Kiamichi Technology Center, and Carl Albert State College. Poteau's population of approximately 9,300 has grown nearly 5% since the 2020 census, and the broader Fort Smith metro of more than 250,000 residents sits 35 minutes east via US-59/271. The submarket is characterized by stable workforce-housing demand and limited new multifamily construction.

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