Thatcher on 28th | 3927 E 28th St
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Thatcher on 28th 3927 E 28th St
22 Unit Apartment Building $1,540,000 ($70,000/Unit) 8.66% Cap Rate Tulsa, OK 74114
Investment Highlights
- 17 out of 22 fully renovated
- Midtown Location
- New Roofs
- Coin Operated Laundry
Executive Summary
Nearly fully renovated over the last two years. Thatcher on 28th is an
excellent opportunity for someone to add a cash flowing asset to their
portfolio. It's small enough that it can be individually managed or
encompassed in with a current manager. Given it's excellent location and
recent updates, all units have multiple potential tenants seeking to lease a
unit when it becomes available. Updates include new roofs, new paint, new
flooring, new tubs, toilets, vanities, granite countertops as well as stainless
steel appliances. Every unit is fully electric and individually metered.
Current Landlord pays for gas (water heaters only), water, sewer, & trash.
Laundry and storage building on site for additional income bringing in over
$300 a month with three coin operated washers and three coin-operated
dryers.
*Broker has partial interest in the property.
excellent opportunity for someone to add a cash flowing asset to their
portfolio. It's small enough that it can be individually managed or
encompassed in with a current manager. Given it's excellent location and
recent updates, all units have multiple potential tenants seeking to lease a
unit when it becomes available. Updates include new roofs, new paint, new
flooring, new tubs, toilets, vanities, granite countertops as well as stainless
steel appliances. Every unit is fully electric and individually metered.
Current Landlord pays for gas (water heaters only), water, sewer, & trash.
Laundry and storage building on site for additional income bringing in over
$300 a month with three coin operated washers and three coin-operated
dryers.
*Broker has partial interest in the property.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,540,000 | Building Class | C |
| Price Per Unit | $70,000 | Lot Size | 0.93 AC |
| Sale Type | Investment | Building Size | 11,088 SF |
| Cap Rate | 8.66% | Average Occupancy | 95% |
| No. Units | 22 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1960/2023 |
| Property Subtype | Apartment | Parking Ratio | 3.25/1,000 SF |
| Apartment Style | Garden |
| Price | $1,540,000 |
| Price Per Unit | $70,000 |
| Sale Type | Investment |
| Cap Rate | 8.66% |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.93 AC |
| Building Size | 11,088 SF |
| Average Occupancy | 95% |
| No. Stories | 1 |
| Year Built/Renovated | 1960/2023 |
| Parking Ratio | 3.25/1,000 SF |
Unit Amenities
- Air Conditioning
- Ceiling Fans
- Carpet
Site Amenities
- Fenced Lot
- Laundry Facilities
- Pet Play Area
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | $695.00 | 385 |
| 1+1 | 12 | $824.00 | 490 |
| 2+1 | 4 | $1,025 | 685 |
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PROPERTY TAXES
| Parcel Number | 21275-93-16-06550 | Total Assessment | $74,580 |
| Land Assessment | $13,420 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $61,160 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
21275-93-16-06550
Land Assessment
$13,420
Improvements Assessment
$61,160
Total Assessment
$74,580
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
zoning
| Zoning Code | RM2 |
| RM2 |
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Thatcher on 28th | 3927 E 28th St
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