Heather Apartments
$1,325,000
201 Beeler Street, Poteau, OK 74953
17,760 sqft
Building Size
84
Occupancy
Details:
Highlights:
- 25 units · 17,760 SF · the portfolio's largest by unit count
- Versatile mix: 1BR, 2BR/1BA, plus one studio
- Recently renovated
- 21 units leased and performing; 4 in make-ready — immediate lease-up upside
- Widest in-place-to-market rent gap in the portfolio
- 2025–2026 on-site leases validate the achievable market
- Offered standalone or in the five-property Poteau Apartments Portfolio
Description:
Twenty-five units across 17,760 rentable square feet — the largest community in the portfolio by unit count. A versatile floor plan mix of one-bedroom, two-bedroom / one-bath, and one studio unit, recently renovated under current ownership. Twenty-one units are leased and performing; four are down and in make-ready. The standout opportunity is the rent profile. 2025 and 2026 leases signed on-site at materially higher rents establish the achievable market and define a defensible renewal strategy. The primary path to stabilized cash flow is operational — turn the open units, hold the existing tenant base, and capture the loss-to-lease as units turn or renew. Heather is offered standalone or as part of the five-property Poteau Apartments Portfolio.
Heather Apartments is located at 201 Beeler Avenue in Poteau, OK — the LeFlore County seat and commercial hub of eastern Oklahoma. The property is well-positioned for access to U.S. Highways 59 and 271 and Poteau'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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Location
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