Melrose Apartments | 6321 E 9th St
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Melrose Apartments 6321 E 9th St
52 Unit Block of Flats £2,911,695 (£55,994/Unit) 8.06% Net Initial Yield Tulsa, OK 74112
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 |
£383,727
|
£8.84
|
| Other Income |
£8,677
|
£0.20
|
| Vacancy Loss |
£39,564
|
£0.91
|
| Effective Gross Income |
£352,840
|
£8.13
|
| Taxes |
£18,752
|
£0.43
|
| Operating Expenses |
£114,404
|
£2.64
|
| Total Expenses |
£133,156
|
£3.07
|
| Net Operating Income |
£219,684
|
£5.06
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £383,727 |
| Annual Per SF | £8.84 |
| Other Income | |
|---|---|
| Annual | £8,677 |
| Annual Per SF | £0.20 |
| Vacancy Loss | |
|---|---|
| Annual | £39,564 |
| Annual Per SF | £0.91 |
| Effective Gross Income | |
|---|---|
| Annual | £352,840 |
| Annual Per SF | £8.13 |
| Taxes | |
|---|---|
| Annual | £18,752 |
| Annual Per SF | £0.43 |
| Operating Expenses | |
|---|---|
| Annual | £114,404 |
| Annual Per SF | £2.64 |
| Total Expenses | |
|---|---|
| Annual | £133,156 |
| Annual Per SF | £3.07 |
| Net Operating Income | |
|---|---|
| Annual | £219,684 |
| Annual Per SF | £5.06 |
PROPERTY FACTS
| Price | £2,911,695 | Building Class | C |
| Price Per Unit | £55,994 | Lot Size | 1.95 AC |
| Sale Type | Investment | Building Size | 43,400 SF |
| Net Initial Yield | 8.06% | Average Occupancy | 91% |
| No. Units | 52 | Number of Floors | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1974/2003 |
| Property Subtype | Apartment | Parking Ratio | 1.96/1,000 SF |
| Apartment Style | Garden |
| Price | £2,911,695 |
| Price Per Unit | £55,994 |
| Sale Type | Investment |
| Net Initial Yield | 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% |
| Number of Floors | 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 | £530.28 | 650 |
| 2+1 | 36 | £703.82 | 950 |
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PROPERTY TAXES
| Parcel Number | 16300-93-03-03410 | Total Assessment | £243,206 (2024) |
| Land Assessment | £9,581 (2024) | Annual Taxes | £18,752 (£0.43/sf) |
| Improvements Assessment | £233,624 (2024) | Tax Year | 2023 Payable 2024 |
PROPERTY TAXES
Parcel Number
16300-93-03-03410
Land Assessment
£9,581 (2024)
Improvements Assessment
£233,624 (2024)
Total Assessment
£243,206 (2024)
Annual Taxes
£18,752 (£0.43/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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