4635 W Gore Blvd

The Multifamily Group is pleased to present the exclusive offering of Country Club View, a unique, stabilized, low-basis opportunity with significant upside in Lawton, Oklahoma. Constructed in 1966, the property consists of 229 units averaging 832 square feet. The property offers efficiencies to three-bedroom and two-and-a-half bathroom floor plans. The property is currently 96% occupied, matching the strong occupancy rates in the submarket at 95% (Yardi). Country Club View is being offered free and clear of existing debt.

The current owners have invested approximately $3.5MM into the asset:

Capital improvements include roof replacements, window upgrades, interior and exterior painting, paving, plumbing repairs, brick replacement, and significant structural work, including complete pier-and-beam replacements and floor joists. The majority of the investment was allocated toward comprehensive interior renovations. These upgrades included new flooring, updated appliances, modern windows, fresh paint, and upgraded finishes. (A full capex list is available upon request.)

Value-Add:

Reduce operating expenses by $138,000 annually through lower insurance costs, payroll efficiencies, and reduced R&M

Burn off loss-to-lease, currently 7% or approximately $190,000 per year

Potential combined NOI increase of ~$330,000, equating to approximately $4.4 million in value at a 7.5% exit cap rate