503 W Allen ST Tahlequah, OK 74464
UPDATED:
Key Details
Property Type Condo, Commercial
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 5,696 sqft
Price per Sqft $271
MLS Listing ID 2632228
HOA Y/N No
Total Fin. Sqft 5696
Year Built 1978
Annual Tax Amount $3,650
Tax Year 2025
Lot Size 0.870 Acres
Acres 0.87
Property Sub-Type Apartment
Property Description
The property has recently undergone substantial improvements, with approximately $126,000 invested in renovations, repairs, maintenance, materials and related improvements during the renovation period. With that work substantially completed and the property now at 100% occupancy, Cedar Crest offers an investor the opportunity to acquire an established asset with stabilized rental income rather than taking on a major renovation and lease-up project.
Cedar Crest is strategically located near Northeastern State University and Tahlequah's growing medical and higher-education presence, including the OSU College of Osteopathic Medicine at the Cherokee Nation and additional healthcare education development in the community. The property also benefits from an existing relationship with NSU, adding to its appeal in a market supported by students, university employees, healthcare professionals and the broader Tahlequah workforce.
Offered at $1,549,000, Cedar Crest represents approximately $96,813 per unit. Recent operating performance, full occupancy and current rents provide a compelling income profile, while recent capital improvements position the property for continued operation with much of the heavy renovation work already completed.
100% occupied. 16 two-bedroom units. $182,400 scheduled annual rent. Recently improved. Strong Tahlequah location.
An excellent opportunity for investors seeking a stabilized multifamily asset with immediate income and long-term potential in one of Northeast Oklahoma's key education, healthcare and employment centers. Financial information and additional property details available to qualified buyers.
Location
State OK
County Cherokee
Interior
Interior Features None
Heating Electric, Gas, Multiple Heating Units
Cooling 3+ Units
Fireplace No
Heat Source Electric, Gas, Multiple Heating Units
Exterior
Exterior Feature None
Fence None
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available, Water Available
Water Access Desc Public
Roof Type Composition
Building
Story 2
Entry Level Two
Foundation Slab
Lot Size Range 0.87
Sewer Public Sewer
Water Public
Level or Stories Two
Structure Type Frame
Schools
School District Tahlequah - Sch Dist (C1)
NEARBY SCHOOL & BUSINESS
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