1. Oklahoma
  2. Pryor
  3. 2900 W 520 Road
$2,500,000/mo

2900 W 520 Road, Pryor, OK 74361

  • 19,376 sqft
  • Property Icon Rental
  • Property Year Built Icon Built in 2018
  • Property Lot Size Icon4.61acre lot
  • Property Parking Icon 1 car garage
  • Property Price Per Square Feet Icon $129/sqft
  • Property List Date Icon Listed 8 months ago

Property Description

Discover a prime investment at 2900 W 520 Road, Pryor, Oklahoma: a meticulously maintained portfolio of eight duplexes (16 units) on a 4.6-acre lot, offering immediate income and future development potential. Fully Leased Units: Fifteen units leased with monthly rents from $1,375 to $1,645, ensuring a stable income stream. Profitable Short-Term Rental: One unit operates as a VRBO, generating over $32,600 in 2024, with nightly rates of $189, reaching $499 during local events. High-Quality Construction: Built in 2018, each 3-bedroom, 2-bathroom unit features granite countertops, custom cabinetry, polished concrete floors, and a one-car garage. Expansion Potential: The expansive lot allows for constructing 5 to 7 additional duplexes. Proximity to Major Employers: Adjacent to the Mayes County Industrial Park (MAIP), one of the world's largest industrial parks, driving consistent housing demand. Recreational Amenities: Near Lake Hudson's 200+ miles of shoreline, offering boating and fishing opportunities, and close to walking trails and parks. Event-Driven Income: Capitalize on increased rental demand during local events like Rocklahoma and Born & Raised festivals, with short-term rental rates reaching $499 per night. 1031 Exchange Investors: Seeking a turnkey, income-producing asset with minimal vacancies. Developers: Looking to expand and capitalize on the property's development potential. Short-Term Rental Operators: Aiming to leverage the thriving local event scene for premium rental rates. Financial Overview: Current Monthly Income: Approximately $19,000 to $21,025 from long-term leases. Annual Short-Term Rental Income: Over $32,600 from the VRBO unit. Total Annual Income: Exceeds $284,900, with potential for growth through development and optimized rental strategies. Seize this rare opportunity to acquire a high-performing asset with immediate returns and future growth potential in a thriving Oklahoma community.

Listing Status:
Pending
Date Added:
December 12, 2024 at 06:00AM
Listing Office:
Lakeland Real Estate NEOK : (918) 434-5095
Listing Agent:
Kimm Kennon : (918) 864-4922
MLS ID:
2443767

This listing courtesy of Kimm Kennon, Lakeland Real Estate NEOK

Location

Schools Nearby

L

Lincoln Elementary School

1635 S Elliott St, Pryor, OK, 74361

Grades PK-5

1.53 miles away

P

Pryor Middle School

7 S Hogan, Pryor, OK, 74361

Grades 6-8

2.85 miles away

P

Pryor High School

1100 SE 9th St, Pryor, OK, 74361

Grades 9-12

1.90 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.