New

$5,250,000

For Sale

9 hours ago

1010 Lovers Lane, Perkins, OK

Name: 1010 Lovers Lane, For Sale in Perkins - eXp Realty
Brand: Canopy Realty Inc
SKU: 2608123
Price: 5250000 USD

MLS® 2608123

0 Bed

0 Bath

23300 sqft

Key Facts
Description
Map

Key Facts

Type Multi Family

Levels Commercial Sale

Size 23300 sqft

Garage No

HOA Fees

Taxes $19,936

Days Active 0

Approx. Age 2025

Avg. Price Per Sqft $225

MLS® Number 2608123

Property Address: 1010 Lovers Lane, Perkins, OK, 74059

Average square foot calculated using Size range provided by listing agent.

Description

Companion Park is a newly constructed 17-unit build-to-rent multifamily community located at 1010 Lovers Lane in Perkins, Oklahoma, positioned just minutes from Stillwater and Oklahoma State University. Completed in phases with the final duplex buildings delivered in August and September 2025, the property consists primarily of modern duplex residences along with a detached single-family home, providing an attractive rental product in a market with strong housing demand. The property is fully occupied with a diversified lease schedule extending through 2026 and 2027, demonstrating strong tenant retention and stable income performance. The community has experienced minimal turnover, averaging approximately 15 days between tenants, reflecting the desirability of the units and the surrounding area. Companion Park currently generates approximately $310, 200 in annual rental income, projected to increase to approximately $312, 000 by August 2026. Operating expenses remain exceptionally efficient due to the property's new construction, tenant-paid utilities, and limited maintenance requirements, resulting in an expense ratio of roughly 24%. The community benefits from recent improvements including perimeter fencing, with additional curb appeal enhancements planned such as decorative stone and brick entry columns with ranch rail frontage fencing. Key operational highlights include: • 17-unit stabilized multifamily asset • Modern duplex construction completed in 2025 • Strong in-place income with projected rent growth • 100% occupied with staggered lease expirations • Tenant-paid utilities • Low operating expenses and minimal deferred maintenance • Average tenant turnover of approximately 15 days • Strong rental demand in the Perkins–Stillwater corridor Companion Park represents a turn-key investment opportunity with stable cash flow, minimal operational risk, and long-term appreciation potential within one of Oklahoma’s most stable rental markets.

MLS® Number2608123

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry Level

Exposure

Exterior

GarageNo

Approx. Age2025

Stories

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Mar 9, 2026List Date

$5,250,000List Price

Commute

Commute

Starting Address

Destination Address

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