7413 Melrose Lane, Oklahoma City, OK 73127
Oklahoma County
Key Facts
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.
Property Information
Property Type
Residential Income
Sub-Type
Apartment
Style
Other
Year Built
1968
Stories
2
Living Area
14,976 sq ft
Lot Size
1.00 acres
Parking Spaces
40
MLS® Listing#
1239729
Property Features
Appliances
Cooling
Heating
Lot Features
Construction
Foundation
Roof
Schools
- Elementary:
- Greenvale ES
- Middle:
- Western Heights MS
- High:
- Western Heights HS
Financial Details
Parcel Number
7413NONEMelrose73127
Directions
On the north side of Melrose Lane between Council and Rockwell.
Affordability Calculator
$240,000
Estimated monthly payment
$6,387/mo
Principal $960,000 · Est. interest $1,339,285 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Oklahoma City, OK
- $288,869
- Median Listing Price
- 52
- Median Days on Market
- 1,720
- Median Sq Ft
- $156
- Median Price / Sq Ft
- 2,490
- Active Listings
- This home’s price is 315% above the area median.
- Its price per sq ft is 49% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Oklahoma City, OK.
Location
Points of Interest in Oklahoma City, OK
Showing the Oklahoma City area map.
Nearby Schools
Greenvale Elementary School
Elementary · 0.4 mi away
Council Grove Elementary School
Elementary · 0.4 mi away
Bethany Montessori School
Elementary · 1.4 mi away
Apollo Elementary School
Elementary · 1.4 mi away
Western Oaks Elementary
Elementary · 1.4 mi away
Western Oaks Middle School
Secondary · 1.4 mi away
Rainbow Early Learning Center
School · 1.7 mi away
Putnam City West High School
Secondary · 1.8 mi away
Mayfield Middle School
Secondary · 1.8 mi away
Southern Nazarene University School for Children
School · 2.0 mi away
Lake Park Elementary School
Elementary · 2.2 mi away
Hilldale Elementary School
Elementary · 2.2 mi away
Overholser Elementary School
Elementary · 2.5 mi away
Windsor Hills Elementary School
Elementary · 2.6 mi away
Kidzone Learning Center
School · 2.8 mi away
Buchanan Elementary School
Elementary · 2.9 mi away
Earl Harris es
Elementary · 3.1 mi away
Bethany High School
Secondary · 3.2 mi away
Central Elementary School
Secondary · 3.2 mi away
Putnam City Schools Maintenance Department
School · 3.2 mi away
Commute Calculator
Nearby Homes
Moving Cost Estimate
EXIT Agents in Oklahoma City
Listing Courtesy: Rock Property Group - 4054150436
Presented by: Matthew Hodge