503 W Allen Street, Tahlequah, OK 74464

Property Description

Exceptional opportunity to acquire a fully occupied multifamily property in Tahlequah. Cedar Crest Apartments consists of two buildings totaling 16 units, 2 bedrooms and 1 bathroom. All 16 units are currently leased at $950 per month, providing $15,200 in scheduled monthly rent and $182,400 in annual scheduled rental income. The property has recently undergone substantial improvements, with approximately $126,000 invested in renovations, repairs, maintenance, materials and related improvements during the renovation period. With that work substantially completed and the property now at 100% occupancy, Cedar Crest offers an investor the opportunity to acquire an established asset with stabilized rental income rather than taking on a major renovation and lease-up project. Cedar Crest is strategically located near Northeastern State University and Tahlequah's growing medical and higher-education presence, including the OSU College of Osteopathic Medicine at the Cherokee Nation and additional healthcare education development in the community. The property also benefits from an existing relationship with NSU, adding to its appeal in a market supported by students, university employees, healthcare professionals and the broader Tahlequah workforce. Offered at $1,549,000, Cedar Crest represents approximately $96,813 per unit. Recent operating performance, full occupancy and current rents provide a compelling income profile, while recent capital improvements position the property for continued operation with much of the heavy renovation work already completed. 100% occupied. 16 two-bedroom units. $182,400 scheduled annual rent. Recently improved. Strong Tahlequah location. An excellent opportunity for investors seeking a stabilized multifamily asset with immediate income and long-term potential in one of Northeast Oklahoma's key education, healthcare and employment centers. Financial information and additional property details available to qualified buyers.