Silverwood Apartments | 2507 S 87th Ave E
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Silverwood Apartments 2507 S 87th Ave E
40 Unit Apartment Building $2,775,000 ($69,375/Unit) 8.11% Cap Rate Tulsa, OK 74129
Investment Highlights
- Favorable Assumable Loan
- Strong Occupancy
- Upside Potential
- Excellent Location
- Well Maintained
Executive Summary
Assumable Loan
Data Room Click Here to Access
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$395,000
|
$13.59
|
| Other Income |
$9,450
|
$0.33
|
| Vacancy Loss |
$39,500
|
$1.36
|
| Effective Gross Income |
$364,950
|
$12.56
|
| Taxes |
$12,132
|
$0.42
|
| Operating Expenses |
$85,542
|
$2.94
|
| Total Expenses |
$97,674
|
$3.36
|
| Net Operating Income |
$267,276
|
$9.20
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $395,000 |
| Annual Per SF | $13.59 |
| Other Income | |
|---|---|
| Annual | $9,450 |
| Annual Per SF | $0.33 |
| Vacancy Loss | |
|---|---|
| Annual | $39,500 |
| Annual Per SF | $1.36 |
| Effective Gross Income | |
|---|---|
| Annual | $364,950 |
| Annual Per SF | $12.56 |
| Taxes | |
|---|---|
| Annual | $12,132 |
| Annual Per SF | $0.42 |
| Operating Expenses | |
|---|---|
| Annual | $85,542 |
| Annual Per SF | $2.94 |
| Total Expenses | |
|---|---|
| Annual | $97,674 |
| Annual Per SF | $3.36 |
| Net Operating Income | |
|---|---|
| Annual | $267,276 |
| Annual Per SF | $9.20 |
Property Facts
| Price | $2,775,000 | Building Class | C |
| Price Per Unit | $69,375 | Lot Size | 0.95 AC |
| Sale Type | Investment | Building Size | 29,064 SF |
| Cap Rate | 8.11% | Average Occupancy | 94% |
| No. Units | 40 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1973/2021 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Apartment Style | Garden |
| Price | $2,775,000 |
| Price Per Unit | $69,375 |
| Sale Type | Investment |
| Cap Rate | 8.11% |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.95 AC |
| Building Size | 29,064 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built/Renovated | 1973/2021 |
| Parking Ratio | 1/1,000 SF |
Unit Amenities
- Dishwasher
- Disposal
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Courtyard
- Laundry Facilities
- Property Manager on Site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 40 | $770.00 | 647 - 697 |
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PROPERTY TAXES
| Parcel Number | 19850-93-13-04310 | Total Assessment | $236,071 |
| Land Assessment | $13,662 | Annual Taxes | $12,132 ($0.42/SF) |
| Improvements Assessment | $222,409 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
19850-93-13-04310
Land Assessment
$13,662
Improvements Assessment
$222,409
Total Assessment
$236,071
Annual Taxes
$12,132 ($0.42/SF)
Tax Year
2024
zoning
| Zoning Code | RM2 (RM-2 zoning is a low-rise residential district that allows for multiple family dwellings, including townhouses, apartments, duplexes, and multi-plexes) |
| RM2 (RM-2 zoning is a low-rise residential district that allows for multiple family dwellings, including townhouses, apartments, duplexes, and multi-plexes) |
Contacts
-
Raymond Lord -
Chase Lord -
Jason Turner -
Dave Pinson -
SVN OAK Realty Advisors LLC
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Silverwood Apartments | 2507 S 87th Ave E
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