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Melrose Apartments | 6321 E 9th St
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Melrose Apartments 6321 E 9th St
52 Unit Apartment Building $3,775,000 ($72,596/Unit) 8.06% Cap Rate Tulsa, OK 74112

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INVESTMENT HIGHLIGHTS
- Strong upside potential
- Attractive Assumable Financing
- Well maintained
EXECUTIVE SUMMARY
Loan Assumption
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
---|---|---|
Gross Rental Income |
$497,500
![]() |
$11.46
![]() |
Other Income |
$11,250
![]() |
$0.26
![]() |
Vacancy Loss |
$51,295
![]() |
$1.18
![]() |
Effective Gross Income |
$457,455
![]() |
$10.54
![]() |
Taxes |
$24,312
![]() |
$0.56
![]() |
Operating Expenses |
$148,324
![]() |
$3.42
![]() |
Total Expenses |
$172,636
![]() |
$3.98
![]() |
Net Operating Income |
$284,819
![]() |
$6.56
![]() |
FINANCIAL SUMMARY (ACTUAL - 2023)
Gross Rental Income | |
---|---|
Annual | $497,500 |
Annual Per SF | $11.46 |
Other Income | |
---|---|
Annual | $11,250 |
Annual Per SF | $0.26 |
Vacancy Loss | |
---|---|
Annual | $51,295 |
Annual Per SF | $1.18 |
Effective Gross Income | |
---|---|
Annual | $457,455 |
Annual Per SF | $10.54 |
Taxes | |
---|---|
Annual | $24,312 |
Annual Per SF | $0.56 |
Operating Expenses | |
---|---|
Annual | $148,324 |
Annual Per SF | $3.42 |
Total Expenses | |
---|---|
Annual | $172,636 |
Annual Per SF | $3.98 |
Net Operating Income | |
---|---|
Annual | $284,819 |
Annual Per SF | $6.56 |
PROPERTY FACTS
Price | $3,775,000 | Building Class | C |
Price Per Unit | $72,596 | Lot Size | 1.95 AC |
Sale Type | Investment | Building Size | 43,400 SF |
Cap Rate | 8.06% | Average Occupancy | 91% |
No. Units | 52 | No. Stories | 2 |
Property Type | Multifamily | Year Built/Renovated | 1974/2003 |
Property Subtype | Apartment | Parking Ratio | 1.96/1,000 SF |
Apartment Style | Garden |
Price | $3,775,000 |
Price Per Unit | $72,596 |
Sale Type | Investment |
Cap Rate | 8.06% |
No. Units | 52 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Garden |
Building Class | C |
Lot Size | 1.95 AC |
Building Size | 43,400 SF |
Average Occupancy | 91% |
No. Stories | 2 |
Year Built/Renovated | 1974/2003 |
Parking Ratio | 1.96/1,000 SF |
UNIT AMENITIES
- Dishwasher
- Disposal
- Heating
- Kitchen
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
---|---|---|---|
1+1 | 16 | $687.50 | 650 |
2+1 | 36 | $912.50 | 950 |
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PROPERTY TAXES
Parcel Number | 16300-93-03-03410 | Total Assessment | $315,315 (2024) |
Land Assessment | $12,422 (2024) | Annual Taxes | $24,312 ($0.56/SF) |
Improvements Assessment | $302,893 (2024) | Tax Year | 2023 Payable 2024 |
PROPERTY TAXES
Parcel Number
16300-93-03-03410
Land Assessment
$12,422 (2024)
Improvements Assessment
$302,893 (2024)
Total Assessment
$315,315 (2024)
Annual Taxes
$24,312 ($0.56/SF)
Tax Year
2023 Payable 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) |
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Melrose Apartments | 6321 E 9th St
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