Creekside

Stillwater, OKLegacy 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. 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.