Property 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.

Property Features

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