The Meridian Apartments
$2,100,000
4701 NW 16th St, Oklahoma City, OK 73127
13,200 sqft
Building Size
1.1802 acres
Lot Area
Details:
Highlights:
- Renovated in 2024
- New Exterior Paint
- New concrete work
- New Railings and Walkways
- Gated Community
Description:
Meridian Apartments is a 24-unit multifamily property totaling approximately 13,200 SF in Oklahoma City, currently 100% occupied. The property was renovated in 2024, including exterior paint, concrete work, railings, HVAC units, and roof replacements, reducing near-term capital needs. The asset generates $225,000 in gross income and $164,000 NOI, representing a 7% cap rate at the asking price. Situated on NW 16th Street with additional land for development, the property offers stable in-place cash flow with future upside potential.
Nestled in the bustling Oklahoma City market, the location of this property offers a wealth of attractions and conveniences for prospective tenants. The vibrant area is home to a variety of entertainment options, including the historic Will Rogers Theatre and the Plaza District, known for its trendy art galleries, boutiques, and dining establishments. With close proximity to major highways, residents can easily access downtown OKC, the Oklahoma State Capitol Complex, and other prominent business and employment centers. Additionally, the nearby Lake Overholser provides a serene retreat for outdoor enthusiasts. This prime location ensures a sought-after living experience that appeals to the discerning multifamily/high-rise investor.
Documents:
| Title | ||
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| The_Meridian_OM.pdf |
Location
