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Melrose Apartments 6321 E 9th St 52 Unit Apartment Building $4,980,097 CAD ($95,771 CAD/Unit) 8.33% Cap Rate Tulsa, OK 74112
Investment Highlights
- Strong upside potential
- Attractive Assumable Financing
- Well maintained
- Prime location situated just off 9th St.
Executive Summary
Loan Assumption
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$678,794
|
$15.64
|
| Other Income |
$15,350
|
$0.35
|
| Vacancy Loss |
$69,987
|
$1.61
|
| Effective Gross Income |
$624,156
|
$14.38
|
| Taxes |
$33,172
|
$0.76
|
| Operating Expenses |
$202,375
|
$4.66
|
| Total Expenses |
$235,546
|
$5.43
|
| Net Operating Income |
$388,610
|
$8.95
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $678,794 |
| Annual Per SF | $15.64 |
| Other Income (CAD) | |
|---|---|
| Annual | $15,350 |
| Annual Per SF | $0.35 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $69,987 |
| Annual Per SF | $1.61 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $624,156 |
| Annual Per SF | $14.38 |
| Taxes (CAD) | |
|---|---|
| Annual | $33,172 |
| Annual Per SF | $0.76 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $202,375 |
| Annual Per SF | $4.66 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $235,546 |
| Annual Per SF | $5.43 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $388,610 |
| Annual Per SF | $8.95 |
Property Facts
| Price | $4,980,097 CAD | Building Class | C |
| Price Per Unit | $95,771 CAD | Lot Size | 1.95 AC |
| Sale Type | Investment | Building Size | 43,400 SF |
| Cap Rate | 8.33% | 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 | ||
| Zoning | RM2 - RM-2 zoning is a low-rise residential district that allows for multiple family dwellings, including townhouses, apartments, duplexes, and multi-plexes | ||
| Price | $4,980,097 CAD |
| Price Per Unit | $95,771 CAD |
| Sale Type | Investment |
| Cap Rate | 8.33% |
| 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 |
| Zoning | RM2 - RM-2 zoning is a low-rise residential district that allows for multiple family dwellings, including townhouses, apartments, duplexes, and multi-plexes |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Heating
- Kitchen
- Tub/Shower
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Recycling
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | $938.03 CAD | 650 |
| 2+1 | 36 | $1,245 CAD | 950 |
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Property Taxes
| Parcel Number | 16300-93-03-03410 | Total Assessment | $453,179 CAD (2025) |
| Land Assessment | $16,015 CAD (2025) | Annual Taxes | $33,172 CAD ($0.76 CAD/SF) |
| Improvements Assessment | $437,164 CAD (2025) | Tax Year | 2023 Payable 2024 |
Property Taxes
Parcel Number
16300-93-03-03410
Land Assessment
$16,015 CAD (2025)
Improvements Assessment
$437,164 CAD (2025)
Total Assessment
$453,179 CAD (2025)
Annual Taxes
$33,172 CAD ($0.76 CAD/SF)
Tax Year
2023 Payable 2024
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Melrose Apartments | 6321 E 9th St
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