Northmarq’s Tulsa office announces sale of The Summit Apartments
TULSA, Okla. (July 14, 2023) — Northmarq’s Benjamin Davis, senior vice president in the Tulsa office, arranged the $1.4 million sale of a 52-unit garden-style multifamily community located at 2302 NW 38th St in Lawton, Oklahoma. Davis represented the Florida based Seller. The buyer was a privately held investment firm based in Salt Lake City.
Built in 1974, The Summit Apartments features two-bedroom apartment homes ranging from 866 to 990 sq. ft. The pet-friendly community is located along Interstate 44 approximately 90 miles southwest of Oklahoma City and offers a small-town atmosphere with plenty of attractions, such as the Museum of the Great Plains, Apache Casino and McMahon Memorial Auditorium. Residents enjoy hiking trails and roaming bison in addition to three shopping centers within 1.2 miles. The buyer plans to deploy a substantial amount of capital to bring the vacant property back to a point of stabilization.
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