The Terraces at Lakehurst

Description:

Originally constructed in 1971, this 34-unit garden-style asset benefits from a $1.7 million renovation completed in 2017. This comprehensive upgrade includes enhancements to both unit and community interiors, exteriors, and essential infrastructure, all nestled in a coveted Northwest Oklahoma City location known for its substantial barriers to entry. It boasts a 100% occupancy rate driven by a prime location and excellent property conditions.

DESIRABLE LOCATION
Situated in prime Northwest OKC location, The Terraces at Lakehurst is adjacent to the exclusive Nichols Hills community, a short commute to the OKC Central Business District, and is conveniently close to leading retailers and major employers in Northwest OKC.

COMPLETE PROPERTY RENOVATION
More than $1.7 million in community renovations in 2017 to unit and community interiors, exteriors, and infrastructure including mechanical systems. Select upgraded units are enhanced with premium features such as stainless steel appliances and granite countertops.

STRONG PROPERTY FUNDAMENTALS
The Terraces at Lakehurst is in excellent property condition with high resident retention rate and history of high occupancy. Desirable community amenities include a fitness center, outdoor pergola, and storage units.

LIMITED COMPETITION
With limited direct competition adjacent to the exclusive Nichols Hills community, The Terraces at Lakehurst stands out as a rare opportunity in a tightly held submarket.

The Terraces at Lakehurst