Capstone is pleased to present the Memorial Garden Cottages, a 69-unit apartment complex located in Edmond, Oklahoma. Built in 2014, Memorial Garden Cottages stands as one of the more recent additions to the Edmond multifamily market due to its high barriers to enter. Still owned by the original developer, this property is ripe for rent increases due to the current rents being under market; new ownership could implement rent increases on day one of up to +$135 per unit over the in-place rents. Edmond consistently offers apartment owners organic rent growth, driven by its affluent tenant base. Residents of Edmond are the highest earners in the state of Oklahoma, boasting an average household income of $135,862 and a per capita income of $52,392, thereby demonstrating a strong and resilient tenant base. Residents of the Cottages will benefit from the esteemed Edmond Public School system, the large number of high-paying jobs in the immediate area, and the low cost of living Edmond has to offer.

Investment Highlights:

Below-Market Rents

High Barrier-to-Entry Submarket with Limited Supply

Submarket Strength & Desirable Tenant Base