Brick 8-Unit Corner
1239 S Rockford Avenue, Tulsa, OK 74120
Brick 8-unit multifamily with individual HVAC and one currently vacant unit for lease-up in Midtown Tulsa.
Type:Multifamily
Property size:
6,812 SFPrice / SF:
$106/SF- Added:
- Apr 17, 2026
- Days on Market:
- 71
- Last Refresh:
- Jun 24 at 3:30 am
Property Features for 1239 S Rockford Avenue
General Information
- Standard status
- Active
- Size
- 6,812 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1960
Listing office Realty ONE Group Dreamers
Listing date Apr 17, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Realty ONE Group Dreamers
HighLights
- Brick 8‑unit multifamily built in 1960 on a corner lot in Midtown Tulsa
- Approximately 6,812 SF total with 7 currently occupied units and 1 vacant unit ready for lease‑up
- All units are 1 bed/1 bath with individual HVAC and separately metered, tenant‑paid electricity
- In‑place income of about $72,000/year; rents currently range from $850–$900/month
- Owner‑paid utilities include water, gas, and trash; leases in place through Aug 2026
- Recent improvements: new roof in 2023 and updated electrical; RM2 zoning
Overview
This brick 8-unit multifamily property includes 7 occupied units and 1 vacant unit ready for lease-up. Each unit is configured as a 1 bed / 1 bath with individual HVAC, and electricity is separately metered for tenant payment. The owner is responsible for water, gas, and trash. Recent improvements include a new roof installed in 2023 and updated electrical, supporting a more maintainable near-term ownership plan. The building totals approximately 6,812 square feet and sits on a corner lot.
The property is located in Midtown Tulsa at 1239 S Rockford Avenue and is in RM2 zoning. The surrounding area includes major employment and institutional users cited in the offering, including Hillcrest Medical, St. John, the University of Tulsa, and Gathering Place. Leases are in place through August 2026, providing occupancy stability while the current vacancy offers immediate repositioning opportunity.
For buyers seeking a small residential income asset, this setup offers straightforward unit mix and separately metered utility billing, which can simplify operations. With one unit available for immediate leasing and income supported by existing in-place occupancy, the property is suited to owner-operators and investors evaluating value-add execution. The offering notes the property may qualify for Opportunity Zone benefits, and possible eligibility for programs including CDBG, OHFA, and HOME should be verified by the buyer.
The property is located in Midtown Tulsa at 1239 S Rockford Avenue and is in RM2 zoning. The surrounding area includes major employment and institutional users cited in the offering, including Hillcrest Medical, St. John, the University of Tulsa, and Gathering Place. Leases are in place through August 2026, providing occupancy stability while the current vacancy offers immediate repositioning opportunity.
For buyers seeking a small residential income asset, this setup offers straightforward unit mix and separately metered utility billing, which can simplify operations. With one unit available for immediate leasing and income supported by existing in-place occupancy, the property is suited to owner-operators and investors evaluating value-add execution. The offering notes the property may qualify for Opportunity Zone benefits, and possible eligibility for programs including CDBG, OHFA, and HOME should be verified by the buyer.
Local 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 local authorities.
Location Intelligence
Current Use by Public Records
SEMIWORLDLLC
Advertising Agency
Location Insight
- Map
- Local Demand
- City
- Tulsa
- County
- Creek
- State
- Oklahoma
- Longitude
- -95.971829
- Latitude
- 36.144454
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Brick 8-unit multifamily with individual HVAC and one currently vacant unit for lease-up in Midtown Tulsa.
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: Brick 8‑unit multifamily built in 1960 on a corner lot in Midtown Tulsa; Approximately 6,812 SF total with 7 currently occupied units and 1 vacant unit ready for lease‑up; All units are 1 bed/1 bath with individual HVAC and separately metered, tenant‑paid electricity
