3398 E 6th Ave | Stillwater, OK 74074
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3398 E 6th Ave
Stillwater, OK 74074
Creekside Apartments · Multifamily Property For Sale · 40 Units
Investment Highlights
- Excellent Occupancy Rates and Value-Add Potential
- Close Proximity to Major Employers and Oklahoma State University
Executive Summary
Legacy CP Advisors is proud to present the exclusive listing for The Creekside Apartments, a premier multifamily investment opportunity in the thriving market of Stillwater, Oklahoma. This meticulously maintained asset, built in 2007 and 2008, consists of 8 one-bedroom and 32 two-bedroom units, offering spacious and modern living arrangements that cater to tenant preferences in a highly desirable location.
Strategically positioned with frontage on one of the city’s main thoroughfares, Creekside Apartments is just minutes away from major employers, renowned educational institutions like Oklahoma State University, and the city's vibrant array of amenities and attractions. The
property provides investors the chance to acquire a stabilized asset with strong fundamentals, boasting excellent occupancy rates and value-add potential.
Property Highlights
Unit Mix: One- and two-bedroom units averaging 795 square feet, each featuring a full suite of in-unit amenities, including washer/dryer, walk-in closets, pantries, private patios/balconies, and modern appliances.
Location: Nestled in a peaceful, tree-lined area just off the main entry thoroughfare into Stillwater, offering both convenience and a serene living environment.
Market Strength: Stillwater is one of Oklahoma’s most attractive rental markets, driven by a growing population of 50,000, with 69% of households being renters. The submarket's strong fundamentals include a 6.6% overall vacancy rate, 2.4% vacancy for comparable properties, and 3-4% annual rent growth.
Investment Opportunity: With no new multifamily developments delivered in the past 24 months and none in the pipeline, Creekside benefits from minimal competition, contributing to longer tenant retention and reduced operating costs. Assumable Financing: The current loan balance of $2.35 million comes with an attractive 3.6% fixed interest rate until May 2029, providing new ownership with
financing terms that surpass what’s available in today’s market.
This offering presents a rare opportunity to acquire a well-positioned asset in Stillwater, a city known for its economic stability, growing rental demand, and limited housing supply. Creekside Apartments is primed to provide investors with consistent cash flow, long-term
appreciation potential, and a secure foothold in one of Oklahoma's top-performing markets.
Strategically positioned with frontage on one of the city’s main thoroughfares, Creekside Apartments is just minutes away from major employers, renowned educational institutions like Oklahoma State University, and the city's vibrant array of amenities and attractions. The
property provides investors the chance to acquire a stabilized asset with strong fundamentals, boasting excellent occupancy rates and value-add potential.
Property Highlights
Unit Mix: One- and two-bedroom units averaging 795 square feet, each featuring a full suite of in-unit amenities, including washer/dryer, walk-in closets, pantries, private patios/balconies, and modern appliances.
Location: Nestled in a peaceful, tree-lined area just off the main entry thoroughfare into Stillwater, offering both convenience and a serene living environment.
Market Strength: Stillwater is one of Oklahoma’s most attractive rental markets, driven by a growing population of 50,000, with 69% of households being renters. The submarket's strong fundamentals include a 6.6% overall vacancy rate, 2.4% vacancy for comparable properties, and 3-4% annual rent growth.
Investment Opportunity: With no new multifamily developments delivered in the past 24 months and none in the pipeline, Creekside benefits from minimal competition, contributing to longer tenant retention and reduced operating costs. Assumable Financing: The current loan balance of $2.35 million comes with an attractive 3.6% fixed interest rate until May 2029, providing new ownership with
financing terms that surpass what’s available in today’s market.
This offering presents a rare opportunity to acquire a well-positioned asset in Stillwater, a city known for its economic stability, growing rental demand, and limited housing supply. Creekside Apartments is primed to provide investors with consistent cash flow, long-term
appreciation potential, and a secure foothold in one of Oklahoma's top-performing markets.
PROPERTY FACTS
| Price Per Unit | $125,955 CAD | Lot Size | 3.35 AC |
| Sale Type | Investment | Building Size | 31,800 SF |
| No. Units | 40 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2008 |
| Apartment Style | Garden | Parking Ratio | 4.42/1,000 SF |
| Building Class | B |
| Price Per Unit | $125,955 CAD |
| Sale Type | Investment |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 3.35 AC |
| Building Size | 31,800 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 2008 |
| Parking Ratio | 4.42/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Satellite TV
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Pantry
- Patio
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 580 |
| 2+2 | 32 | - | 855 |
PROPERTY TAXES
| Parcel Number | 600007341 | Improvements Assessment | $403,774 CAD |
| Land Assessment | $61,653 CAD | Total Assessment | $465,427 CAD |
PROPERTY TAXES
Parcel Number
600007341
Land Assessment
$61,653 CAD
Improvements Assessment
$403,774 CAD
Total Assessment
$465,427 CAD
zoning
| Zoning Code | o |
| o |
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