72 Unit Apartment, Norman OK

This is a 72-unit garden-style apartment in Norman within the Oklahoma City metro. We will take this C asset in a B area to a C+ asset. The central strategy for this purchase was a management change and a 25% reduction in expenses. Most of the units have been touched by the previous owner. We have improved landscaping, exterior, and new signage/branding, ensuring all systems work appropriately and giving the residents a better experience. We secured bank financing of 2.5%, five years fixed, and 30 years am. Closed 9/2020 $ 3,213,200.