7413 Melrose Lane, Oklahoma City, OK 73127
- $1,200,000
- 24
- BD
- 16
- BA
- 14,976
- SqFt
- List Price
- $1,200,000
- MLS#
- 1239729
- Days on Market
- 11
- Living Area
- 14,976
- Status
- ACTIVE
- Type
- Multifamily
- Bedrooms
- 24
- Full Bathrooms
- 16
- Neighborhood
- West Oaks Sec 7
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.
Additional Information
- Construction
- Brick & Frame
- Year Built
- 1968
- School District
- Western Heights
- Elementary School
- Greenvale ES
- Middle School
- Western Heights MS
- High School
- Western Heights HS
- Roof
- Shingle
- Appliances
- Refrigerator, Water Heater
- Cooling
- Central Elec
- Heating
- Electric
- Lot Description
- Interior Lot
- Lot Size
- 42,116
- Acres
- 1
- Foundation
- Slab
Courtesy of Matthew Hodge and Rock Property Group. (405) 415-0436
Mortgage Calculator
Copyright © 2026 MLSOK, Inc. This information is believed to be accurate but is not guaranteed. Subject to verification by all parties. The listing information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of MLSOK, Inc. Information last updated on .