1010 Lovers LN, Perkins, OK 74059
1010 Lovers LN, Perkins, OK 74059
1010 Lovers LN, Perkins, OK 74059
23
See all 23 photos
$5,250,000
Est. payment /mo
Save
23,300 SqFt
Active

1010 Lovers LN Perkins, OK 74059

Save
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Robert Ellis

Robert Ellis

+1(580) 775-3031

UPDATED:

Key Details

Property Type Multi-Family, Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 23,300 sqft

Price per Sqft $225

MLS Listing ID 2608123

HOA Y/N No

Total Fin. Sqft 23300

Year Built 2025

Annual Tax Amount $19,936

Tax Year 2025

Lot Size 3.000 Acres

Acres 3.0

Property Sub-Type Multi Family

Property Description

Companion Park is a newly constructed 17-unit build-to-rent multifamily community located minutes from Stillwater and Oklahoma State University. Completed in phases with the final duplexes delivered in August and September 2025, the community consists of 16 modern duplexes and one detached single-family home, offering a premium rental product in a supply-constrained market with strong workforce housing demand. The property is 100% occupied with lease expirations staggered through 2026 and 2027, demonstrating strong tenant retention and durable cash flow. Tenant turnover has averaged approximately 15 days, reflecting consistent demand in the Perkins-Stillwater corridor. Current in-place rents generate approximately $316,200 in annual gross rental income. Four duplexes already lease for $1,600/month, while the remaining twelve lease for $1,500/month, creating embedded rent growth as leases renew. The detached single-family home currently leases for $1,950/month and is scheduled to increase to $2,000/month this fall. Operating expenses remain exceptionally low due to the property's new construction, tenant-paid utilities, and minimal maintenance requirements. The property operates with an expense ratio of approximately 15%, producing an estimated NOI of $268,544 and an owner-operator cap rate of approximately 5.12% at the current asking price. Utilities are already stubbed in the center of the community, with plans completed for future expansion, providing additional value-add potential. Recent capital improvements include perimeter privacy fencing, with decorative stone entry monuments and ranch-style frontage fencing planned to further enhance curb appeal.

Location

State OK

County Payne

Interior

Interior Features Attic, High Speed Internet, Ceiling Fan(s)

Heating Central, Electric

Cooling Central Air

Flooring Carpet, Vinyl

Fireplace No

Heat Source Central, Electric

Exterior

Exterior Feature Sprinkler/Irrigation, Landscaping

Fence Full, Privacy

Utilities Available Electricity Available, Fiber Optic Available, Separate Meters, Water Available

Water Access Desc Public

Roof Type Other

Building

Entry Level One

Foundation Slab

Lot Size Range 3.0

Sewer Public Sewer

Water Public

Level or Stories One

Structure Type Frame

Schools

School District Perkins-Tryon - Sch Dist (P4)

Others

Security Features Smoke Detector(s)

Listed by Canopy Realty Inc

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

Robert Ellis

Robert Ellis

Agent | License ID: 204606

+1(580) 775-3031

Name
Phone*
Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from Robert Ellis, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

Go tour this home

1010 Lovers LN