101109 . 36 HOME SFR OKLAHOMA CITY, OK, Oklahoma City, OK 73162
Significant opportunity to purchase an SFR package in #2 Secondary Market in the country
All homes are fully remodeled and in practically brand-new condition
Currently, 100% occupied with fully qualified tenants
85% of tenants have signed new leases in the Q3 & Q4 of 2021
Low resale housing supply driving value growth and rental growth
One, two, three, four and five-bedroom floor plans on larger lots with an average vintage of 1967
In place Cap Rate 4.45%
Stabilized Year 1 Gross Yield 7.69%
Stabilized Year 1 Cap Rate of 5.23%
Leverage Year 1 IRR of 20.18%
Year 1 NOI at stabilization $413,273
17.2%% current YOY home value appreciation
4.6% YOY Rent Growth and project rent growth of 3% through 2022
Little to no Cap-Ex or R&M with fully renovated portfolio
All SVN® Offices Independently Owned & Operated
Local Broker License Information: www.SFRhub.com/realstatelicensing
Property Description
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This 36-home SFR investment portfolio offers an investor a significant opportunity in the exceedingly strong and high-growth market where more institutional and high-net-worth investors are focusing efforts and chasing strong yields. These fully renovated, like new homes, are well-positioned to offer a strong in-place yield with 85% brand, new tenants in mid to late 2021. The portfolio offers one, two, three, four, and five-bedroom floor plans on larger lots. Homes range from 624 SF to 2,600 SF. This portfolio is fully occupied and professionally managed. The owner is an experienced single-family operator with significant residential & commercial experience in OKC and has focused on selecting quality locations for driving yield, improving properties, and offering the next investor the ability to leverage this market insight and purchase strong, turn-key cash flowing properties. The next investor will have limited to no CapEx or repair & maintenance expense burden, given the homes have been fully remodeled with quality materials and construction. The average vintage throughout the portfolio is 1967 and currently operating at 100% occupancy with most leases expiring in Q3 & Q4, offering investors to push rents in a rent growth market here in OKC. Oklahoma City is the #2 secondary market for institutional and single-family investors in the country and ranks 38 of the top 63 markets in the country, according to John Burns Real Estate Consulting. OKC offers an investor the opportunity to acquire in a growing market with a diversified and growing economy, with 6.6% Y.O.Y. median household income growth and a significant Y.O.Y. home price appreciation of 17.2%. Rents in this market have climbed 4.6% in the last year and are projected to climb 3% through 2022. Home price appreciation is also expected to climb 7% through 2022 with steady employment & population growth as well.