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Melrose Apartments 6321 E 9th St 52 Unit Apartment Building $5,053,534 CAD ($97,183 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 |
$688,804
|
$15.87
|
| Other Income |
$15,576
|
$0.36
|
| Vacancy Loss |
$71,019
|
$1.64
|
| Effective Gross Income |
$633,360
|
$14.59
|
| Taxes |
$33,661
|
$0.78
|
| Operating Expenses |
$205,359
|
$4.73
|
| Total Expenses |
$239,020
|
$5.51
|
| Net Operating Income |
$394,340
|
$9.09
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $688,804 |
| Annual Per SF | $15.87 |
| Other Income (CAD) | |
|---|---|
| Annual | $15,576 |
| Annual Per SF | $0.36 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $71,019 |
| Annual Per SF | $1.64 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $633,360 |
| Annual Per SF | $14.59 |
| Taxes (CAD) | |
|---|---|
| Annual | $33,661 |
| Annual Per SF | $0.78 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $205,359 |
| Annual Per SF | $4.73 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $239,020 |
| Annual Per SF | $5.51 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $394,340 |
| Annual Per SF | $9.09 |
Property Facts
| Price | $5,053,534 CAD | Building Class | C |
| Price Per Unit | $97,183 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 | $5,053,534 CAD |
| Price Per Unit | $97,183 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 | $951.86 CAD | 650 |
| 2+1 | 36 | $1,263 CAD | 950 |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 16300-93-03-03410 | Total Assessment | $456,821 CAD (2025) |
| Land Assessment | $16,144 CAD (2025) | Annual Taxes | $33,661 CAD ($0.78 CAD/SF) |
| Improvements Assessment | $440,677 CAD (2025) | Tax Year | 2023 Payable 2024 |
Property Taxes
Parcel Number
16300-93-03-03410
Land Assessment
$16,144 CAD (2025)
Improvements Assessment
$440,677 CAD (2025)
Total Assessment
$456,821 CAD (2025)
Annual Taxes
$33,661 CAD ($0.78 CAD/SF)
Tax Year
2023 Payable 2024
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Melrose Apartments | 6321 E 9th St
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