208 W Watts Street, El Reno, OK 73036

About this home

Motivated seller, make an offer! Great investment opportunity in El Reno. 6 unit apartment building (208 W Watts), 3 bed 2 bath 1999sf (first level 1565sf, second level about 434sf) single family home (206 W Watts), and 8000 sf vacant lot at 500 S Choctaw. All sold as a package. 5/7 units are rented, all month to month leases several to long term tenants, with total rents at $2400 ($350 $400, $450 $550 and $650). Market rent in El Reno for 1 bedroom with tenant paying all utilities is around $700 putting total market rent for 208 Watts at or around $4200. 6 unit is in solid condition and already cash flowing. It could use some exterior work, but inside is great and rent ready. The single family home at 206 Watts needs more rehab inside and outside. Retail value on the SFH is around $200k when updated. The vacant lot at 500 S Choctaw is a great corner lot that could serve as parking for tenants (not needed now but an option) or additional units could be built on it. Seller is open to any offer so don't be shy. Owner finance is available but terms will not be better than a bank meaning rate will be higher and down payment larger. No set terms as they depend on borrower financials and experience.