Housing
Deep Deuce



no



Address: 314 NE 2nd (http://goo.gl/maps/wCfFf)
Status: complete
Owner:
Cost:
Architect:
Start Date:
Finish Date: 2001
Contractor:
Height in Feet / Floors:
Sq. Feet: 292,499
Acreage: 7.17
Other: 294 apartments

http://www.okctalk.com/images/wikiphotos/deepdeuceaparts1.jpg


Information & Latest News
Links
County Assessor Record (http://www.oklahomacounty.org/assessor/Searches/AN-R.asp?ACCOUNTNO=R020020700)
Property website (http://www.deepdeucebricktown.com/)
Gallery

OCURA is in the process of putting out an RFP for this tiny bit of land adjacent to the apartments:

"Lot 24 in Block 15 is a vacant lot adjacent to one of the buildings of the Deep
Deuce at Bricktown apartments on NE 1st Street. An urban development (residential and/or
mixed-use commercial) will provide appropriate infill for this area. The issuance of an invitation
for redevelopment proposals will initiate the process for the development of this site."

http://www.okctalk.com/images/pete/ocuradd.jpg

interesting .. usually they don't issue an rfp unless someone is interested in the site

odot owns the lot just to the west (they own a small strip north south through out deep deuce and garret and company owns the big lot to the west of that

Any examples of what could be built on that site? Only about 30 feet by 130 feet.

Any examples of what could be built on that site? Only about 30 feet by 130 feet.

Deep Deuce Grill minus the Patio is about as narrow.

Any examples of what could be built on that site? Only about 30 feet by 130 feet.

A brothel?
:wink:

There are plans for a pretty good sized hotel across the street.

Interesting news... Seems pricey but hopefully we get a new owner who will make some improvements.



Deep Deuce at Bricktown Apartments on the market
By Brianna Bailey
Posted: 07:27 PM Wednesday, November 7, 2012

The Nebraska-based owners of the Deep Deuce at Bricktown Apartments have put the 297-unit complex on the market for $39.75 million.

At $134,000 per unit they should consider selling them individually.

I would be also.

You guys should get an investment group together, negotiate a good deal, then sell the units for $150K.

You could sell every one for that and make a good profit. :)

i would be very interested at that price as well

I think they would be sold in 12 months or less at the $135 - 150 K price point.

In addition to the units themselves, there is great opportunity to take the mass amount of surface parking and add more density, especially now that the surrounding area is really filling in:



http://www.okctalk.com/images/pete/ddaerial.jpg

I'd buy in...It wouldn't be anything substantial, but every little bit helps.

Nice pics of the apartments, and Deep Deuce Grill:

http://www.greatmirror.com/images/masters/018324.jpg

http://www.greatmirror.com/images/masters/018326.jpg

Is this still on the market? Do the buyers get the grill too?

Deep Deuce Apartments did sell to a California-based REIT, and at a premium price:

Deep Deuce apartments in Oklahoma City sell for $38.2 million | News OK (http://newsok.com/deep-deuce-apartments-in-oklahoma-city-sell-for-38.2-million/article/3778053)


Also, I'm hearing the new owners are planning major renovations to the interiors to keep pace with Level and all the other new construction in the immediate area.

to answer the other ? no they didn't buy the grill that building is not part of the deep deuce apts

Deep Deuce Apartments did sell to a California-based REIT, and at a premium price:

Deep Deuce apartments in Oklahoma City sell for $38.2 million | News OK (http://newsok.com/deep-deuce-apartments-in-oklahoma-city-sell-for-38.2-million/article/3778053)


Also, I'm hearing the new owners are planning major renovations to the interiors to keep pace with Level and all the other new construction in the immediate area.

Thats good to here. I've heard from some people who live there the interiors are a bit cheap and 90s-ish, especially compared to the newer Deep Deuce and Midtown properties.

At 130K per unit, these people should really look into converting some of the units into for sale condos.

Now if they'd only cover over the ugly stucco sides of the apartments with brick, but maybe they'd argue the stucco competes with the stucco on Level.

I seem to recall an architect or builder on the forum years ago who said they weren't built to support a brick facade. Think it may have been blue dog.

Thats good to here. I've heard from some people who live there the interiors are a bit cheap and 90s-ish, especially compared to the newer Deep Deuce and Midtown properties.

At 130K per unit, these people should really look into converting some of the units into for sale condos.

These units are prime for condo conversion but the banking system isn't ready for it.

These units are prime for condo conversion but the banking system isn't ready for it.

banking system has little to do with it ...

banking system has little to do with it ...

Let me rephrase this post. Converting to a condo doesn't have much to do with the bank, but finding buyers who can get a condon loan and who would want to live in $150k condo would be a challenge.

Let me rephrase this post. Converting to a condo doesn't have much to do with the bank, but finding buyers who can get a condon loan and who would want to live in $150k condo would be a challenge.

not really at sub 200k prices these have great comps all around them and would sell very fast ..

Let me rephrase this post. Converting to a condo doesn't have much to do with the bank, but finding buyers who can get a condon loan and who would want to live in $150k condo would be a challenge.

If you are saying that the typical $150,000 condo buyer lacks financial wherewithal, can you support that?

If you are saying that the typical $150,000 condo buyer lacks financial wherewithal, can you support that?

Most banks require upwards of 20% down to buy a condo. For a $150k condo that is $30,000 cash money. I'm just saying the demographics of the person in the market for a $150K condo and people that have $30,000 in cash don't have much overlap. Now you could have people who buy them and rent them out - but that would be a huge step backwards.

Thats good to here. I've heard from some people who live there the interiors are a bit cheap and 90s-ish, especially compared to the newer Deep Deuce and Midtown properties.

At 130K per unit, these people should really look into converting some of the units into for sale condos.

I dunno about the banking system, but real estate laws in Oklahoma provide a massive disincentive to that.

I dunno about the banking system, but real estate laws in Oklahoma provide a massive disincentive to that.

Can you elaborate?

Congrats! Ah... new apartment smell.

Sid, what percentage of the units have been remodeled?

Is the plan to do all of them?