1127 Gore BlvdLawton, OK 73501

Property Details for 1127 Gore Blvd

Year built

1974

Lot size

3.19 AC

Property size (Sq ft)

280 SF

Property type

Office properties

Property subtype

Office buildings

APN

22957

APU

22957

Description

This exceptional 72-unit apartment complex, Arrowhead Apartments, presents a compelling value-add investment opportunity in Lawton, Oklahoma. Located at 1127 E Gore Blvd, this property boasts a substantial 58,752 square feet of net rentable space spread across five, two-story buildings situated on a generous 3.83-acre lot. Built in 1974 and renovated in 2022, the property currently enjoys a 78% occupancy rate, with full occupancy projected by January 1, 2024. Each of the 72 units features desirable amenities including walk-in closets. The complex also offers convenient on-site management and a refreshing swimming pool. The property's strategic location near a casino contributes to its strong rental performance and potential for increased revenue. With a current asking price of $4,350,000, this translates to an attractive price per unit of $60,416.67, making it an ideal acquisition for investors seeking a proven value-add strategy in a thriving market. The property is classified as a Class C multifamily investment. This is a rare opportunity to acquire a well-maintained, income-producing asset with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $47,074

  6.5%

  $43,453

  7%

  $40,349

• Comparable approach

  Method

  Valuation

  Relative Method

  $33,690

  Geo Method

  $33,690

• Alternative Use

  Use

  Valuation

  Residential

  $53,882

  Hospitality

  $49,355

  Educational

  $41,063

  Medical

  $42,475

  Retail

  $63,876

Location Insight

City

Lawton

County

Comanche

State

Oklahoma

Latitude

34.606

Longitude

-98.3746

CBSA code

30020

CBSA name

LAWTON, OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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