OFFERING MEMORANDUM!1 /BEAUMONT DUPLEX PACKAGE NORMAN OKLAHOMA PROPERTY PACKAGE 24 BUILDINGS/DUPLEXES ON BEAUMONT DR AND DR IN NORMAN 48 TOTAL UNITS RENTING FROM $595-$900 PER MONTH PRIME FOR REPOSITIONING OR CASH FLOW PRICE $2,500,000 WORTMAN REALTY TEAM GRANT 405-308-7509 WORTMAN METRO BROKERS OF OKLAHOMA 405-308-7509 GRANT@WORTMANREALTY.COM GRANT@WORTMANREALTY.COM
!2 TABLE OF CONTENTS EXECUTIVE SUMMARY 3 4 5 THE OFFERING INVESTMENT SUMMARY INVESTMENT HIGHLIGHTS THE PROPERTY 6 9 10 11 15 16 17 RENT ROLL AND UNIT NOTES PROPERTY STATS QUICK NUMBERS LOCATION OF ADDRESSES BY MAP EXTERIOR PICTURES OF EACH BUILDING FLOORPLAN POTENTIAL LAND FOR FUTURE DEVELOPMENT PICTURES OF VACANT UNIT FINANCIAL SUMMARY 18 18 19 PRO FORMA PROJECTED PRO FORMA ESTIMATED REPAIRS COMPARABLE SOLD PROPERTIES 20 21 22 2017 SOLD DUPLEX PACKAGE 2015 SOLD DUPLEX ON 2015 SOLD DUPLEX ON BEAUMONT
EXECUTIVE SUMMARY!3 THE OFFERING The Wortman Realty Team, Metro Brokers of OK is proud to offer the opportunity to acquire the duplex package at Sinclair and Beaumont in Norman OK. This package consists of 24 duplex buildings, totaling 48 units. The property fills almost an entire city block. Situated between Boyd and Linsdey off of East 12th Street, it is only 1.9 miles from the OU campus. Directly across the street is a large campus housing apartment named Campus Lodge. It is in walking distance to numerous restaurants, shopping and parks. Each duplex has approximately +/- 1224 SF per unit (per side), or +/- 2448 SF per building. Total rentable SF of +/- 58,752. Every property has the same or extremely similar floorpans, you enter the front door into the living room. A stairway is in front of you with a small hallway that opens to the half bath, kitchen and laundry room. Upstairs are two bedrooms with a jack and jill bath connecting the two. All units have HVAC systems. The buildings were all built around 1978 and have the mansard style architecture where the roof comes all the way down to the ground. The duplexes were purchased for 1.9 million in 2008. Since then the owner has spent another $300,000 in on the roofs alone, converting the flat roofs into pitched roofs. More has been spent on other renovations such as new carpet, HVAC, water heaters, tile flooring, etc in various units. 5 of the buildings have had the mansard style side roof/wall removed and replaced with siding to give a more traditional look. Many of the units have had the downstairs carpet replaced in recent years with tile floors. Currently 27 of the 48 units are rented out. This is the lowest occupancy since the owner purchased the property. We attribute this to family crisis over the past 12 months. There are 21 vacant units. Of those 12 are about 95% move in ready or better. One of the duplexes had a fire a few years back and needs to be rebuilt on the inside (sheetrock, floors, cabinets, etc ). Two other buildings needs significant repair due to water leaks or bad tenants. Based on previously sold comparable properties, we estimate the value of this duplex package to be $2,535,000. See Rent Roll and Comps for Details.
!4 INVESTMENT SUMMARY INVESTMENT SUMMARY ASKING PRICE $2,500,000 TERMS CASH UNITS 48 YEAR BUILT 1978 NET RENTABLE AREA AVERAGE SIZE PER UNIT +/- 58,752 SF +/- 1224 SF OCCUPANCY 56% RENTED 27 VACANT 21 VACANT UNITS 95% MOVE IN READY BREAK EVEN POINT IF FINANCING 70% 12 31 OF THE 48 UNITS AVERAGE RENT PER UNIT $663 AVERAGE RENT PER SF $0.54
!5 INVESTMENT HIGHLIGHTS UNIVERSITY OF OKLAHOMA In Fall 2016 the university had 31,250 students enrolled,[5] most at its main campus in Norman. Employing nearly 3,000 faculty members,[3] the school offers 152 baccalaureate programs, 160 master's programs, 75 doctorate programs, and 20 majors at the first professional level.[7][8] David Lyle Boren, a former U.S. Senator and Oklahoma Governor, has served as the university's president since 1994. NORMAN Norman is a city in the U.S. state of Oklahoma 20 miles (30 km) south of downtown Oklahoma City in its metropolitan area. The population was 110,925 at the 2010 census. [1] Norman's estimated population of 120,284 in 2015 makes it the third-largest city in Oklahoma, and the city serves as the county seat of Cleveland County. In 2008, CNN's Money Magazine ranked Norman as the sixth best small city within the United States to live in. Other major employers in the city include Norman Regional Health System, Norman Public Schools, Johnson Controls, Griffin Memorial Hospital, Hitachi, Astellas Pharma Technologies, Albon Engineering, Xyant Technology, MSCI, Office Max National Sales Center, SITEL, the United States Postal Service National Center for Employee Development, Sysco Corporation, and AT&T. [45] The median household income in the city was $44,396, and the median income for a family was $62,826. [34] Males had a median income of $41,859 versus $35,777 for females. [34] The per capita income for the city was $24,586. [34] About 11.8% of families and 19.2% of the population were below the poverty line, including 18.9% of those under age 18 and 8.9% of those age 65 or over. [34] POTENTIAL GROWTH AT DUPLEXES The property that the duplexes are built upon is zoned with the city of Norman as RM-2 which includes apartment buildings containing four or fewer units. What that means is that there is potential down the road to convert some of the units from duplex to fourplex either by creating one bedroom efficiency units in the existing buildings, or by adding on to the buildings or replacing the buildings on the existing lots. As you look at the arial view of the property you ll notice a handful of lots with extremely large lots. In my opinion these lots could easily be converted to be great money making fourplexes. Notes taken from Wikipedia: https://en.wikipedia.org/wiki/norman,_oklahoma#economy https://en.wikipedia.org/wiki/university_of_oklahoma
!6 AREA MAPS
THE PROPERTY!7 RENT ROLL AND UNIT NOTES 1 OF 3 Address Rented/ Vacant Current Rent Potential Rent Est Value of Building Notes Tax ID 1711 Beaumont Vacant $0 $791 $115,000 Green one updated exterior. Upstairs sheetrock repair in back bedroom, paint and clean. $5000 R0030485 1709 Beaumont Rented $791 $791 Sect 8 R0030485 1707 Beaumont 1705 Beaumont 1703 Beaumont Vacant $0 $900 $90,000 Bad Shape, Mold at carport, AC Condenser gone, Boarded up back window. Full of stuff. Maybe $7k?. This one has a huge lot out back and is zoned for four up to a fourplex I believe. Could add on or tear down and rebuild a really great property here Vacant $0 $900 Bad Shape, Mold at carport, AC Condenser gone, Boarded up back window. Full of stuff. Maybe $7k?. This one has a huge lot out back and is zoned for four up to a fourplex I believe. Could add on or tear down and rebuild a really great property here Rented $700 $791 $110,000 New AC inside and out. Water leak at carport. R0030484 R0030484 R0030486 1701 Beaumont Rented $700 $791 Didn t get to go inside R0030486 641 Sinclair Rented $750 $791 $110,000 R0030487 639 Sinclair Vacant $0 $791 Just had make ready done by Charlie Sons (paint, clean, new carpet being installed soon) $1700. Finished Aug 5? 637 Sinclair NA $0 NOT PART OF THE PACKAGE, Different Owners. See MLS Comp Sheet for info of last sold. 635 Sinclair NA $0 NOT PART OF THE PACKAGE, Different Owners. See MLS Comp Sheet for info of last sold. R0030487 NA NA 633 Sinclair Vacant $0 $791 $90,000 Small fire on one side. $20,000 R0030489 631 Sinclair Vacant $0 $791 New cabinets, paint, clean, etc. $10,000 R0030489 629 Sinclair Vacant $0 $900 $1l45,000 BEST ONE, All Remodeled, new carport, paint, new tile, carpet, etc $0 627 Sinclair Rented $650 $800 Rented for 25 YEARS. Older interior, part of the same great exterior that s been renovated. R0030490 R0030490 625 Sinclair Rented $650 $791 $110,000 Needs, carpet, paint, clean, etc R0030491 623 Sinclair Rented $550 $791 rented 10 years, nice guy. carport leaks R0030491
RENT ROLL AND UNIT NOTES CONT 2 OF 3 621 Sinclair Rented $585 $791 $110,000 Section 8, Smoker, Nice place R0030492!8 619 Sinclair Rented $700 $850 Nice place R0030492 613 Sinclair Rented $700 $791 $105,000 didn't go inside? R0030493 611 Sinclair Rented $700 $791 pretty good, possible small leak from outside wall 609 Sinclair Vacant $0 $800 $120,000 Ready to rent now, grayish blue, updated Ext at start of cul de sac. $0 R0030493 R0030496 607 Sinclair Rented $700 $791 grayish blue one at start of cul de sac R0030496 605 Sinclair Rented $700 $791 $120,000 Teal building, updated ext. Good. Ac needs a bit of work. R0030494 603 Sinclair Rented $600 $791 didn t get to go inside. R0030494 519 Sinclair Vacant $0 $791 $110,000 Needs carpet. $1700 R0030495 517 Sinclair Rented $800 $800 Tiled inside. Clean. R0030495 515 Sinclair NA $0 NOT PART OF THE PACKAGE, Different Owners. 513 Sinclair NA $0 NOT PART OF THE PACKAGE, Different Owners. NA NA 511 Sinclair Vacant $0 $791 $110,000 Needs carpet. $1700 R0030499 509 Sinclair Rented $650 $791 Tiled floor downstairs R0030499 507 Sinclair Rented $600 $791 $110,000 R0030498 505 Sinclair Vacant $0 $791 Needs clean, and carpet repair. Finished Aug 5 ish. $500 R0030498 503 Sinclair Rented $593 $700 $110,000 Section 8, old carpet R0030500 501 Sinclair Rented $685 $791 Section 8, Tiled, Good place R0030500 500 Sinclair Rented $500 $791 $110,000 Tile and carpet in the last 3 years R0030501 502 Sinclair Rented $600 $791 Tiled downstairs R0030501 504 Sinclair Rented $689 $791 $125,000 Tile downstairs. Section 8. Bright Blue. Updated Ext. New Windows, Doors, Patios. 506 Sinclair Vacant $0 $791 Nice Stained concrete downstairs. Move In Ready R0030502 R0030502 508 Sinclair Rented $600 $791 $95,000 wouldn t let us go in. R0030503 510 Sinclair Vacant $0 $900 Storage. Trashed, roof leak, needs some sheetrock, carpet, paint, etc $5000 604 Sinclair Vacant $0 $791 $105,000 No carpet. Some mold at WH. No oven range. Rough shape. Finished Sep 1? $2500 R0030503 R0030504 606 Sinclair Rented $648 $791 Section 8. Tiled downstairs R0030504
RENT ROLL AND UNIT NOTES CONT 3 OF 3 608 Sinclair Vacant $0 $791 $80,000 Side ext wall fell off. Leak. $15,000 R0030505!9 610 Sinclair Vacant $0 $800 Has carpet. Exterior redo to match 608. Needs paint and clean and it's ready. $5000 R0030505 612 Sinclair Rented $700 $791 $110,000 Carpet downstairs- don t mess with R0030506 614 Sinclair Vacant $0 $791 carpet downstairs is good, needs cleaning and bug killing. $500 R0030506 618 Sinclair Rented $650 $791 $110,000 Carpet downstairs. Nice. $0 R0030507 620 Sinclair Vacant $0 $791 Dirty. Needs small sheetrock repair. $500 624 Sinclair Vacant $0 $900 $30,000 FIRE BUILDING. Just a shell. Needs $40k per side 626 Sinclair Vacant $0 $900 FIRE BUILDING. Just a shell. Needs $40k per side R0030507 R0030508 R0030508 630 Sinclair Vacant $0 $791 $105,000 Trashed. Moldy. Leaks. Needs $5000 R0030509 632 Sinclair Rented $700 $791 Carpet downstairs R0030509 PROPERTY STATS - QUICK NUMBERS TOTAL RENTED UNITS 27 TOTAL VACANT UNITS 21 VACANT BUT 95% MOVE IN READY 12 TOTAL ACTUAL MONTHLY RENTS $17,891 TOTAL POTENTIAL MONTHLY RENTS $38,626 TOTAL RENOVATION NEEDED TO RENT ALL UNITS INCLUDING FIRE BUILDING $108,500 Rough numbers TOTAL BUILDINGS FOR SALE 24 TOTAL EST VALUE BY BUILDING BASED ON SOLD COMPS $2,535,000 AVG CURRENT MONTHLY RENT $662.62 AVG CURRENT RENT PER RENTED SQFT $0.54
!10 LOCATION OF ADDRESSES 510 & 508 506 & 504 502 & 500 604 & 606 501 & 503 505 & 507 509 & 511 519 & 517 608 & 610 605 & 603 609 & 607 612 & 614 613 & 611 618 & 620 621 & 619 625 & 623 624 & 626 629 & 627 630 & 632 633 & 631 641 & 639 1703 & 1701 BEAUMONT 1707 & 1705 BEAUMONT 1711 & 1709 BEAUMONT GRANT WORTMAN 405-308-7509 GRANT@WORTMANREALTY.COM
!11 PICTURES OF UNITS FROM EXTERIOR
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!15 FLOORPLAN ROUGH SKETCH OF THE DOWNSTAIRS UNITS NOTE: A FEW BUILDINGS ARE SLIGHTLY OFFSET BUT THE LAYOUT IS ESSENTIALLY THE SAME. ROUGH SKETCH OF THE UPSTAIRS UNITS SKETCH BASED ON COUNTY ASSESSOR SKETCH FOR ONE BUILDING. NOT REPRESENTATIVE OF EVERY FLOORPLAN BUT GENERALLY SIMILAR.
!16 POTENTIAL LAND FOR FUTURE DEVELOPMENT As previously mentioned, the lots for several of the duplexes are very large and have unused land behind the buildings. The area is zoned to handle up to a fourplex. There is potential to build larger buildings on the existing land. See pics below. GRANT WORTMAN 405-308-7509 GRANT@WORTMANREALTY.COM
!17 PICTURES OF A VACANT UNIT
FINANCIAL SUMMARY!18 CURRENT PRO FORMA Current Pro Forma As Of July 26 2017 Current Monthly Current Annual Income Current Rent From the 27 Occupied Units $17,891.00 $214,692.00 21 Units Are Currently Vacant Expenses Property Taxes $3,000.00 $36,000.00 Insurance $1,916.67 $23,000.00 Maintenance $3,000.00 $36,000.00 0 Net Operating Income not including Debt Payment $9,974.33 $119,692.00 PROJECTED PRO FORMA Projected Pro Forma Once Property Is Managed Well Current Monthly Current Annual Income Gross Potential Rent from 48 Units $38,626.00 $463,512.00 Expenses Property Taxes $3,000.00 $36,000.00 Insurance $1,916.67 $23,000.00 Maintenance $4,000.00 $48,000.00 Vacancy Rate of 10% $3,862.60 $46,351.20 Management Company Fee of 10% of Rented Units $3,476.00 $41,712.00 Net Operating Income not including Debt Payment (60% expenses) $22,370.73 $268,448.80 Estimated Debt Payment at Purchase Price of 2.5 Million $12,537.54 $150,450.48 $2.5 million with 30% down, $1.75 million financed 20 year am, 6% Estimated Profit once properly managed $9,833.19 $117,998.32 Estimated Cap Rate (Annual NOI/$2,500,000) 10.7%
!19 ESTIMATED REPAIRS See Rent Roll Notes for specific amounts needed per unit. If you spent $5000 per unit that s $240,000. But a lot of them don t need that much in repairs. In fact many of the vacant and rented units are really quite nice with fresh paint, tile floors and newer carpet. Based on our rough notes found on the rent roll, to fix up the units so they are ready to rent out it could take up to $108,500. This does include the fire building and the other two buildings with water issues. This does not include any outside renovations besides the one building that had the side fall off. You can see estimates needed per unit in the rent roll notes above. Many of these repairs are already under way and will be completed over the next few months. Not including the fire building, we estimate somewhere around $30,000 would get the property up to speed and rent out every other unit.
COMPARABLE SOLD PROPERTIES!20 2017 DUPLEX PACKAGE Cross Property Agent Full w/photos MultiFamily Status: Sold MLS#: 756036 Type: Duplex Address: 1309 Eastgate DR #1311, Norman, OK 73071 Addition: East Lindsey Plaza 3 R List Price: $500,000 Area: 325 County: Cleveland Close Price: $490,000 Community: CP$/SF: $61.31 Assess Accnt#: R0032462 LP$/SQFT: $62.56 Land SqFt/Dim: Lot: 10 Block: 3 Acre: Directions: East Lindsey & 12th Ave SE, South to Commerce Dr, East to Eastgate, Right on around to Hunter's Run, on North side General Information Levels: SF MOL: 7992 / Courthouse Disclosure: Disclaimer Units: 6 Year Built: 1983 / Existing Foundation: SLAB HSE: No Tax: $1,440.00 Bldg Design: OTHER,TRADT Assumable: No Park/Unit: Pk/Type: Concrete Drive Handicap: No Public Trans: FirePlace: 6 / Masonry Lot Desc: Construction: Brick & Frame Roof Ty / Yr: Composition Bldr Name: Heat: Central Gas Cool: Central Elec Remarks Package of 3 duplexes. Great opportunity to own a duplex close to OU and live in one side while renting the other. Great floor plan with large living, kitchen, and dining, and 1/2 bath down and 2 bedrooms with 2 full baths up plus 2 car garages! Nicely updated and all appliances stay. Rents for $875/side with no problem. Fully rented units available too! Schools Elem: Middle: High: Sch District: Norman Investment Information Gross Inc: Operating Exp: Avg Occupancy: Gross Exp: Insurance: Packet Available: Features: Private Entry, Yard Appliances: Dishwasher, Refrigerator, Washer/Dryer Misc Features: Beds:12 Full Baths:12 Half Baths: Units Information Efficiency Units: Monthly Rent: 2 Br Units: 2 Monthly Rent: 1 Br Units: Monthly Rent: 3 Br Units: Monthly Rent: Office and Showing Information Terms: Sell FHA or VA LBox: MLS Key Internet: Yes / Yes / NoComp SB: 2.5% Show Instr: Showing Assist S Cond: None Occupied: Yes BSB: List Type: Exclusive Right to Sell Service Type: Full Service Var/Dual Rt: No List Agent: WALYKERR/Wally Kerr List Broker: KTRE01/Kerr Team Real Estate Agent Phone: 405-321-8326 Wally@kerrteam.com Office Phone: 405-321-8326 Office Fax: 405-310-2000 Agent Cell: 405-412-7360 Agent Fax: 405-310-2000 Office Web: Agent Web: http://www.wallykerr.com Co Agent PBMOORE/Patrick Moore Co Agent Phone: 405-659-2126 patrick@kerrteam.com L/Ofc Remarks 1309 is vacant but 1311 is tenant occupied. If you wish to see 1311, please call Patrick Moore at 659-2126 to arrange. EM checks made payable to title company of buyer's choice or trust account of selling broker. For info/contracts contact Patrick Moore at 659-2126 or patrick@plainseskimo.com Listing Information List Date: 01/05/2017 DOM: 47 Pend Date: 02/21/2017 Expire Date: Original List Price: $269,900 Sold Information Original List Price: $269,900 SF MOL: 7992 / Courthouse DOM: 47 Closed Price: $490,000 Closed Date: 03/20/2017 CP$/SQFT: $61.31 Coop Sale: No CP/LP: 0.98 Pend Date: 02/21/2017 LP$/SQFT: $62.56 Sales Agent: KBACA/Kelley Baca Phone: 510-825-1207 Sales Broker: STIL01/The Stiles Company Ofc Phone: 405-701-8005 Loan Type: Conventional Loan Terms: Interest Rate: Lender: Loan Amt: Origination $: Appraiser Name: N/A Appraiser Ph: N/A Appraised SF:: Seller Consessions:$5,380.00 Title Co: Unfinshed SF: Sold Remarks: This listing was approx.75 miles south of subject property. Same distance from OU as subject. Sold 3 Buildings, 6 Rooms for $490,000 ($61.31 per SQFT) on 3/20/17
!21 2015 DUPLEX ON MultiFamily Status: Sold MLS#: 725560 Type: Duplex Address: 635 Sinclair DR #637, Norman, OK 73071 Addition: Colonial Estates 8 List Price: $139,900 Area: 325 County: Cleveland Close Price: $117,500 Community: CP$/SF: $50.82 Assess Accnt#: R0030488 LP$/SQFT: $60.51 Land SqFt/Dim: 6,620 Lot: Block: Acre: 0.152 Directions: From 12th E. and Boyed, Go S. on 12th to Beaumont, Go E on Beaumont to Sinclair, N. on Sinclair to property on E. side of street. General Information Levels: TWO SF MOL: 2312 / Courthouse Disclosure: Disclaimer Units: 2 Year Built: 1977 / Existing Foundation: SLAB HSE: Tax: $1,139.00 Bldg Design: TRADT Assumable: No Park/Unit: Pk/Type: Concrete Drive Handicap: Public Trans: FirePlace: Lot Desc: Construction: Brick & Frame Roof Ty / Yr: Composition Bldr Name: Heat: Cool: Remarks Fantastic investment opportunity with this well-maintained and newly updated duplex. Each unit has 2 bedrooms and 1 and a half baths. The full bath is upstairs and jack and Jill style. The half bath downstairs and great for guest. Each unit has a private patio and plenty of parking. One unit is LEASED FOR $700 and the OTHER IS $650. $650. One is rented THROUGH JAN 2017 and the other THROUGH MAR 2017. New roof and siding in summer of 2016. New windows are being installed on the 2nd level of each unit. Schools Elem: Kennedy Middle: Irving High: Norman High Sch District: Norman Investment Information Gross Inc: Operating Exp: Avg Occupancy: Gross Exp: Insurance: $1,200 Packet Available: Features: Appliances: Dishwasher Misc Features: Beds:2 Full Baths:1 Half Baths:2 Units Information Efficiency Units: Monthly Rent: 2 Br Units: 2 Monthly Rent: 1 Br Units: Monthly Rent: 3 Br Units: Monthly Rent: Office and Showing Information Terms: Cash, Sell FHA LBox: MLS Key Internet: Yes / Yes / NoComp SB: 3% or VA Show Instr: Showing Assist S Cond: None Occupied: Yes BSB: List Type: Exclusive Right to Sell Service Type: Full Service Var/Dual Rt: No List Agent: MITCHELLB/Mitchell Biesemeyer List Broker: CERE01/Weichert Realtors, Centennial Agent Phone: 405-360-0303 mitch.aaron@gmail.com Office Phone: 405-360-0303 Office Fax: 405-321-0606 Agent Cell: Agent Fax: 405-360-0606 Office Web: www.weichertok.com L/Ofc Remarks Please give 24 notice if possible since both sides have tenants we have to coordinate with. Lockbox is on 635 but please knock before entering in case tenants are home. Listing Information List Date: 04/14/2016 DOM: 3 Pend Date: 04/17/2016 Expire Date: Original List Price: $139,900 Sold Information Original List Price: $139,900 SF MOL: 2312 / Courthouse DOM: 3 Closed Price: $117,500 Closed Date: 06/15/2016 CP$/SQFT: $50.82 Coop Sale: Yes CP/LP: 0.84 Pend Date: 04/17/2016 LP$/SQFT: $60.51 Sales Agent: LJTRACY/Linda J. Tracy-Ryburn Phone: 405-476-5319 Sales Broker: TWIN02/RE/MAX Energy Real Estate Ofc Phone: 405-350-3031 Loan Type: Loan Terms: Interest Rate: Lender: Loan Amt: Origination $: Appraiser Name: n/a Appraiser Ph: 0000000000 Appraised SF:: Seller Consessions: Title Co: Unfinshed SF: Sold Remarks: Appraised SqFt: Unfinish SqFt: 635 & 637 Sinclair Dr - Front of Duplex 635 & 637 Sinclair Dr - Front Side View (Windows are being replaced) 635 & 637 Sinclair Dr - Underneath the Carport 635 Sinclair Dr - Front Door 635 Sinclair Dr - Entry Way 635 Sinclair Dr - Living Room 635 Sinclair Dr - Kitchen with door to patio 635 Sinclair Dr - Kitchen and Dining Area This listing was in the same neighborhood/street of subject property. Sold in 2015. Same floorpan. Closed at $117,000 ($50.82 per SQFT)
!22 2015 DUPLEX ON BEAUMONT MultiFamily Status: Sold MLS#: 587979 Type: Duplex Address: 1615 Beaumont Dr 1617, Norman, OK 73071 Addition: Colonial Estates 8 List Price: $120,000 Area: 325 County: Cleveland Close Price: $105,000 Community: CP$/SF: $42.89 Assess Accnt#: R0030511 LP$/SQFT: $49.02 Land SqFt/Dim: 9,440 Lot: Block: Acre: 0.210 Directions: South on 12th (77) from Alameda St, turn East(left) on Beaumont St. Then turn Northeast(left) on Beaumont Dr, house will be on the left hand side General Information Levels: TWO SF MOL: 2448 / Courthouse Disclosure: Yes Units: 2 Year Built: 1977 / Existing Foundation: SLAB HSE: No Tax: $1,150.05 Bldg Design: TRADT Assumable: Park/Unit: Pk/Type: Concrete Drive Handicap: No Public Trans: FirePlace: 2 Lot Desc: Construction: Stone Roof Ty / Yr: Tar & Gravel Bldr Name: Heat: Central Gas Cool: Central Elec Remarks Great investment opportunity. Each has two beds and one and a half baths. Property includes large bedrooms, fireplaces, private patios, covered parking, newer roof, one new hot water tank, and new updated electrical panels. Units are metered seperately Schools Elem: Kennedy Middle: Irving High: Norman High School Investment Information Gross Inc: Operating Exp: Avg Occupancy: Gross Exp: Insurance: Packet Available: Features: Playground, Private Entry Appliances: Dishwasher, Disposal Misc Features: Beds: Full Baths:2 Half Baths:2 Sch District: Norman Units Information Efficiency Units: Monthly Rent: 2 Br Units: 2 Monthly Rent: $600-$630 1 Br Units: Monthly Rent: 3 Br Units: Monthly Rent: Office and Showing Information Terms: LBox: Internet: Yes / Yes / NoComp SB: 3.0% Show Instr: S Cond: Occupied: Yes BSB: List Type: Exclusive Right to Sell Service Type: Not Var/Dual Rt: No Applicable List Agent: JSTILES/JoAnne Stiles List Broker: STIL01/The Stiles Company Agent Phone: 405-701-8005 joanne@thestilescompany.cooffice Phone: 405-701-8005 Office Fax: 405-701-5843 Agent Cell: 405-558-1945 Agent Fax: 405-701-5843 Office Web: L/Ofc Remarks Listing Information List Date: 05/19/2015 DOM: 27 Pend Date: 06/15/2015 Expire Date: Original List Price: $120,000 Sold Information Original List Price: $120,000 SF MOL: 2448 / Courthouse DOM: 27 Closed Price: $105,000 Closed Date: 06/30/2015 CP$/SQFT: $42.89 Coop Sale: Yes CP/LP: 0.88 Pend Date: 06/15/2015 LP$/SQFT: $49.02 Sales Agent: CRALSTIN/Carey A. Ralstin Phone: 405-543-7266 Sales Broker: MOKC01/Keller Williams Realty OKC Ofc Phone: 405-329-6976 Loan Type: Loan Terms: Interest Rate: Unknown Lender: Loan Amt: Origination $: Appraiser Name: Appraiser Ph: Appraised SF:: Seller Consessions:$0.00 Title Co: First American Title & Trust Company Unfinshed SF: Sold Remarks: Appraised SqFt: Unfinish SqFt: Exterior Front. Front View Living Room. Living Room & Stairs Kitchen. Kitchen Bathroom. Full Bathroom Bedroom. Bedroom Prepared By: Grant Wortman Information Is Believed To Be Accurate But Not Guaranteed Date Printed: 02/06/2017 Copyright 2017 MLSOK, Inc. All Rights Reserved. This listing was in the same neighborhood/street of subject property. Sold in 2015. Same floorpan. Closed at $105,000 ($42.89 per SQFT). Very similar condition to subject.