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Real Estate Notes for Nov. 10

Real Estate Notes for Nov. 10
Modified: November 9, 2012 at 6:48 pm •  Published: November 10, 2012

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West Pointe Apartments sold

Woodrow Village Apartments LLC has bought the 82-unit West Pointe Apartments, 7321 Lyrewood Lane, from family trusts that owned it since 2004, in a transaction handled by Mike Buhl of Commercial Realty Resources Co. The purchase price was $1.775 million, or $21,646 per unit.

West Pointe, built in 1978, has 85,920 square feet in seven two-story apartment buildings, an office-laundry and a swimming pool. West Pointe was 75 percent occupied. The buyer also owns 168-unit Putnam Green Apartments nearby at 7525 Knight Lake Drive. The properties are south of W Wilshire Boulevard and east of N Rockwell Avenue. The buyer is starting cosmetic improvements and interior upgrades at West Pointe.

“The buyer now controls 250 units at this location which will be managed together to provide operating efficiencies,” Buhl said. “The buyer expects to duplicate the success he has had in repositioning the Putnam Green Apartments, which now operates at near 95 percent occupancy.”

Habit program aids vet, his family

Central Oklahoma Habitat for Humanity will unveil a newly renovated home to complete the 2012 Veterans Critical Home Repair Program sponsored by Home Depot Foundation in a ceremony at 10:30 a.m. Saturday. Central Oklahoma Habitat is one of 84 Habitat affiliates participating in the program nationally.

Deric Isaac, a veteran of the Air National Guard, and his wife, Amanda, applied for the program so they could provide their four young children with a safe living environment. The program helps veterans with limited incomes restore homes with repairs such as weatherization, painting, landscaping, minor structural repairs as well as ramps, grab bars and other modifications for people with disabilities.

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