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Melrose Apartments 6321 E 9th St 52 Unit Apartment Building $5,092,480 CAD ($97,932 CAD/Unit) 8.33% Cap Rate Tulsa, OK 74112
INVESTMENT HIGHLIGHTS
- Strong upside potential
- Attractive Assumable Financing
- Well maintained
EXECUTIVE SUMMARY
Loan Assumption
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$694,112
|
$15.99
|
| Other Income |
$15,696
|
$0.36
|
| Vacancy Loss |
$71,567
|
$1.65
|
| Effective Gross Income |
$638,241
|
$14.71
|
| Taxes |
$33,920
|
$0.78
|
| Operating Expenses |
$206,942
|
$4.77
|
| Total Expenses |
$240,862
|
$5.55
|
| Net Operating Income |
$397,379
|
$9.16
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $694,112 |
| Annual Per SF | $15.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $15,696 |
| Annual Per SF | $0.36 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $71,567 |
| Annual Per SF | $1.65 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $638,241 |
| Annual Per SF | $14.71 |
| Taxes (CAD) | |
|---|---|
| Annual | $33,920 |
| Annual Per SF | $0.78 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $206,942 |
| Annual Per SF | $4.77 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $240,862 |
| Annual Per SF | $5.55 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $397,379 |
| Annual Per SF | $9.16 |
PROPERTY FACTS
| Price | $5,092,480 CAD | Building Class | C |
| Price Per Unit | $97,932 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 | $5,092,480 CAD |
| Price Per Unit | $97,932 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
- Dishwasher
- Disposal
- Heating
- Kitchen
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Recycling
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 16 | $959.20 CAD | 650 |
| 2+1 | 36 | $1,273 CAD | 950 |
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PROPERTY TAXES
| Parcel Number | 16300-93-03-03410 | Total Assessment | $442,627 CAD (2024) |
| Land Assessment | $17,438 CAD (2024) | Annual Taxes | $33,920 CAD ($0.78 CAD/SF) |
| Improvements Assessment | $425,189 CAD (2024) | Tax Year | 2023 Payable 2024 |
PROPERTY TAXES
Parcel Number
16300-93-03-03410
Land Assessment
$17,438 CAD (2024)
Improvements Assessment
$425,189 CAD (2024)
Total Assessment
$442,627 CAD (2024)
Annual Taxes
$33,920 CAD ($0.78 CAD/SF)
Tax Year
2023 Payable 2024
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Melrose Apartments | 6321 E 9th St
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