7413 Melrose LN, Oklahoma City, OK 73127
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7413 Melrose LN, Oklahoma City, OK 73127
7413 Melrose LN, Oklahoma City, OK 73127
7413 Melrose LN, Oklahoma City, OK 73127
7413 Melrose LN, Oklahoma City, OK 73127
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Listed by Matthew Hodge • Rock Property Group
$ 1,200,000
Est. payment /mo
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Active

7413 Melrose LN Oklahoma City, OK 73127

24 Beds

16 Baths

14,976 SqFt

UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 14,976 sqft

Price per Sqft $80

MLS Listing ID OKC1239729

Style Other

Bedrooms 24

Full Baths 16

Construction Status Brick & Frame

Year Built 1968

Annual Tax Amount $5,447

Lot Size 0.967 Acres

Acres 1.0

Property Sub-Type Apartment

Property Description

Rock Property Group is pleased to present Melrose Oaks, a fully occupied, 16-unit, garden-style apartment community located in Oklahoma City, just minutes from I-40 and the OKC Outlet Shoppes. The property offers stabilized in-place cash flow with significant value-add upside through a straightforward mark-to-market rent strategy and operational improvements available to a hands-on owner. Located in a federally designated Opportunity Zone, offering investors significant capital gains tax advantages including deferral and potential full exclusion on appreciation after a 10-year hold.

Currently operating at 100% occupancy with a long-tenured tenant base, Melrose Oaks is positioned approximately $100 below market rents per unit — representing roughly $19,200 in annualized rent upside before factoring in additional operational improvements. A new owner has the opportunity to capture market rents through organic turnover, light interior upgrades, and ancillary income enhancements such as RUBS implementation for water/sewer.

The property consists of four two-story buildings with four units each, totaling 16 spacious 2-bedroom / 1-bathroom units averaging 850 SF. The brick construction, pitched roof (replaced 2019), and individually-metered electric service provide a durable foundation. The property has recently had the parking lot restriped and sealed.

Contact Rock Property Group for Offering Memorandum and Current Financials.

Broker discloses a minority ownership in the property.

Location

State OK

County Oklahoma

Interior

Heating Electric

Cooling Central Elec

Fireplace N

Appliance Refrigerator, Water Heater

Exterior

Roof Type Shingle

Building

Lot Description Interior Lot

Story 2

Foundation Slab

Architectural Style Other

Structure Type Brick & Frame

Construction Status Brick & Frame

Schools

Elementary Schools Greenvale Es

Middle Schools Western Heights Ms

High Schools Western Heights Hs

School District Western Heights

Multiple Listing Service of Oklahoma (MLSOK)

NEARBY SCHOOLS & PROPERTIES

Carlene Rupp

Carlene Rupp

Advisor | License ID: 159793

+1(405) 471-1480

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7413 Melrose LN