Riviera Apartments

Highlights:

• 12 units · 100% occupied
• New 2025 roof and siding
• 1BR/2BR floor plan mix
• Rising recent-lease trend; 2026 leases at top of historical range
• Smaller-asset entry point into the Poteau market
• Clean operational hold
• Offered standalone or in the three-property Poteau Apartments Portfolio

Description:

Twelve units, fully occupied. A mix of one- and two-bedroom floor plans. Current ownership installed a new roof and new siding in 2025, addressing the most visible elements of the building envelope. The story at Riviera is rent trajectory: the most recent leases signed on the property step up meaningfully from the older tenancy on the rent roll, including 2026 leases at the top of the property's range. That gives an incoming owner a clear, evidence-backed renewal path — bring legacy rents toward where the property is already leasing today, one turn at a time. Stable occupancy, recent envelope investment, and a rent roll that proves its own upside make Riviera a clean operational hold for a buyer looking for a smaller-asset entry point into the Poteau market. Offered standalone or as part of the three-property Poteau Apartments Portfolio.

Riviera Apartments is located at 101 North Avenue in Poteau, OK — the LeFlore County seat and commercial hub of eastern Oklahoma. The property is positioned for access to U.S. Highways 59 and 271 and 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 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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