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Melrose Apartments 6321 E 9th St 52 Unit Apartment Building $5,073,463 CAD ($97,567 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 |
$691,520
|
$15.93
|
| Other Income |
$15,637
|
$0.36
|
| Vacancy Loss |
$71,300
|
$1.64
|
| Effective Gross Income |
$635,858
|
$14.65
|
| Taxes |
$33,793
|
$0.78
|
| Operating Expenses |
$206,169
|
$4.75
|
| Total Expenses |
$239,962
|
$5.53
|
| Net Operating Income |
$395,896
|
$9.12
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $691,520 |
| Annual Per SF | $15.93 |
| Other Income (CAD) | |
|---|---|
| Annual | $15,637 |
| Annual Per SF | $0.36 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $71,300 |
| Annual Per SF | $1.64 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $635,858 |
| Annual Per SF | $14.65 |
| Taxes (CAD) | |
|---|---|
| Annual | $33,793 |
| Annual Per SF | $0.78 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $206,169 |
| Annual Per SF | $4.75 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $239,962 |
| Annual Per SF | $5.53 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $395,896 |
| Annual Per SF | $9.12 |
PROPERTY FACTS
| Price | $5,073,463 CAD | Building Class | C |
| Price Per Unit | $97,567 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 | $5,073,463 CAD |
| Price Per Unit | $97,567 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 | $955.62 CAD | 650 |
| 2+1 | 36 | $1,268 CAD | 950 |
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PROPERTY TAXES
| Parcel Number | 16300-93-03-03410 | Total Assessment | $460,612 CAD (2025) |
| Land Assessment | $16,278 CAD (2025) | Annual Taxes | $33,793 CAD ($0.78 CAD/SF) |
| Improvements Assessment | $444,334 CAD (2025) | Tax Year | 2023 Payable 2024 |
PROPERTY TAXES
Parcel Number
16300-93-03-03410
Land Assessment
$16,278 CAD (2025)
Improvements Assessment
$444,334 CAD (2025)
Total Assessment
$460,612 CAD (2025)
Annual Taxes
$33,793 CAD ($0.78 CAD/SF)
Tax Year
2023 Payable 2024
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Melrose Apartments | 6321 E 9th St
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