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California investors trade townhomes in the Oklahoma City area oklahoman.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from oklahoman.com Daily Mail and Mail on Sunday newspapers.
Oklahoman Jake and Kristin Fisher started out their marriage by buying a house because they didn’t know any better. We felt like that was what we were supposed to do, Jake Fisher said. That s what a married couple did. Now they rent an apartment by choice. Others may feel “stuck” in an apartment while home prices spike across the Oklahoma City area. In the past year, prices jumped 15%, according to the Metro Association of Realtors. But apartment rents have risen here no more than usual, with one-bedroom units up 3.1% and two-bedroom units up 2.5% year over year, according to Capstone Cos. ....
The sale of Garden Cottages Apartments in west/central Norman was finalized on Wednesday. The 34-unit property, located at 2201 W. Brooks St., was sold to Imago Brooks LLC of Broomfield, Colorado for nearly $2.6 million, or $76,281 per unit from Norman GC, LLC, who built the property in 2010. The sale was handled by Mike Buhl of Commercial Realty Resources Co., who had the exclusive listing on the property. Natalie Reid of First American TItle handled the closing on Wednesday. Garden Cottages had a 100% occupancy rate at the time of the sale. The property has a unit mix of one bedroom, one bathroom apartments with 580-square-foot floor plans. Rental rate is $670 per month for one of the original units, with the two most recent apartments renting for $750. ....
Commercial real estate slump in most sectors expected to continue normantranscript.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from normantranscript.com Daily Mail and Mail on Sunday newspapers.
Renters struggled in 2020, but in the Oklahoma City area they mostly kept their rent paid up, and it shows in the apartment sales data for the year. As "difficult and unpredictable" as it was, "the roller coaster ride may have been more emotional than financial," said Mike Buhl, broker-owner of multifamily property brokerage Commercial Realty Resources Co. in Norman. "The effects of COVID‐19 on the multifamily sector have so far proven to be more of an interruption than a trend. . Renters have prioritized rent payments." Collections were largely unfazed, and rents are on the rise. Occupancies remain firm. ....