Apartment/5+ Units - Pryor, OK
Discover a prime investment at 2900 W 520 Road, Pryor, Oklahoma: a meticulously maintained portfolio of eight duplexes (16 units) on a 4.6-acre lot, offering immediate income and future development potential.
Fully Leased Units: Fifteen units leased with monthly rents from $1,375 to $1,645, ensuring a stable income stream. Profitable Short-Term Rental: One unit operates as a VRBO, generating over $32,600 in 2024, with nightly rates of $189, reaching $499 during local events.
High-Quality Construction: Built in 2018, each 3-bedroom, 2-bathroom unit features granite countertops, custom cabinetry, polished concrete floors, and a one-car garage.
Expansion Potential: The expansive lot allows for constructing 5 to 7 additional duplexes.
Proximity to Major Employers: Adjacent to the Mayes County Industrial Park (MAIP), one of the world's largest industrial parks, driving consistent housing demand.
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Recreational Amenities: Near Lake Hudson's 200+ miles of shoreline, offering boating and fishing opportunities, and close to walking trails and parks.
Event-Driven Income: Capitalize on increased rental demand during local events like Rocklahoma and Born & Raised festivals, with short-term rental rates reaching $499 per night.
1031 Exchange Investors: Seeking a turnkey, income-producing asset with minimal vacancies.
Developers: Looking to expand and capitalize on the property's development potential.
Short-Term Rental Operators: Aiming to leverage the thriving local event scene for premium rental rates.
Financial Overview:
Current Monthly Income: Approximately $19,000 to $21,025 from long-term leases.
Annual Short-Term Rental Income: Over $32,600 from the VRBO unit.
Total Annual Income: Exceeds $284,900, with potential for growth through development and optimized rental strategies.
Seize this rare opportunity to acquire a high-performing asset with immediate returns and future growth potential in a thriving Oklahoma community.
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