Midtown Tulsa Multifamily Investment
1239 S Rockford Avenue Tulsa, OK 74120
For Sale
$725,000
Pending
COMMERCIAL - Tulsa, OK
Property Size6,812 SF
Lot Size0.26 Acres
Days on Market104
Property Features for 1239 S Rockford Avenue
General Information
Property type
Commercial Sale
Property subtype
Apartment
Zoning
RM2
Parking features
Off Street
Interior features
Smoke Detector
Exterior features
Lighting, Sidewalk
Standard status
Pending
APN
30775-93-07-10310
Size
6,812 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LTS 19 20 21 BLK 8, ORCHARD ADD, TULSA COUNTY, OK
Tax Annual Amount
4454
Utilities
Cooling system
Central Air
Building Details
Year built
1960
Flooring type
Tile, Vinyl, Hardwood
Building materials
Brick
Roof type
Composition
Listing Agency:
Realty One Group Dreamers
(539) 367-1555
Listed By:
Mary Benway
(539) 367-1555
Added: Apr 16
Changed: Jul 12
Last Checked: Jul 28 at 5:06AM
MLS# 2613646
Copyright © 2026 MLS Technology, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This eight-unit multifamily property is located in Midtown Tulsa at 1239 S Rockford Ave. The brick building offers approximately 6,812 square feet on a corner lot. The property is zoned RM2 and generates approximately $72,000 per year in income. Seven of the units are occupied, presenting an immediate value-add opportunity with one vacant unit available for lease-up. All units feature one bedroom and one bathroom, individual HVAC systems, and separate electricity meters, with tenants responsible for electricity costs. The owner covers water, gas, and trash expenses. Recent improvements include a new roof installed in 2023 and updated electrical systems. The property's location near Hillcrest Medical, St. John, the University of Tulsa, and Gathering Place supports strong rental demand. Leases are in place through August 2026, providing stability with future upside through rent increases. The property is located in Census Tract 34.00 and may be eligible for Opportunity Zone benefits; buyers should verify this independently. The property may also be eligible for CDBG, OHFA, and HOME programs.
Key Highlights
- 8‑unit multifamily in Midtown Tulsa at 1239 S Rockford Ave with 7 occupied units and 1 vacancy ready for lease‑up
- Approximately 6,812 SF brick building on a corner lot with RM2 zoning
- All units are 1 bed / 1 bath with individual HVAC and separately metered electricity (tenant‑paid)
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $122.6k | $18.00 |
| − Vacancy | −$12.1k | −$1.78 |
| EGI | $110.5k | $16.22 |
| − OpEx | −$49.7k | −$7.30 |
| NOI | $60.8k | $8.92 |
6,812 SF · lease $18.00/SF/yr · vacancy 9.90% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$868.0K
$759.5K – $1.01M
NOI $60,762 @ 7.0% cap · market cap 8.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.45M
$1.27M – $1.70M
NOI $101,703 @ 7.0% cap · market cap 14.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit multifamily property in Midtown Tulsa with value-add potential.
Where is this apartment building located?
The property is located at 1239 S Rockford Avenue Tulsa, OK.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 8‑unit multifamily in Midtown Tulsa at 1239 S Rockford Ave with 7 occupied units and 1 vacancy ready for lease‑up; Approximately 6,812 SF brick building on a corner lot with RM2 zoning; All units are 1 bed / 1 bath with individual HVAC and separately metered electricity (tenant‑paid)
