Cap Rate 5.40%
Price Per SF $84
Price Per Unit $67,500
Gross Sq. Footage 31,864 SF
Year Built 1969
2211 S. Vernon Avenue is a 40-unit apartment community built in 1969. The property boasts a mix of 31 onebedroom, one-bathroom and 8 two-bedroom, two-bathroom units. Current ownership recently replaced the roof allowing an investor to continue to add value to the property with additional improvements.
The property is located in Wynnewood North just South of Bishop Arts. The asset is situated adjacent to Wynnewood Village, a 65-acre shopping center, which is currently undergoing a $30 million renovation to match the evolving demographics in the area.
This value-add opportunity is perfect for an investor looking to capitalize on current income and 25% potential upside in rents in one of the nation’s fastest-growing MSA’s.