Multifamily Investment Opportunity in
1246 S Memorial Dr, Tulsa, OK 74112
92-unit multifamily community with value-add potential in East Tulsa.
Type:Multifamily
Property size:
84,180 SF- Added:
- Feb 25, 2026
- Days on Market:
- 78
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 1246 S Memorial Dr
General Information
- Standard status
- Active
- Size
- 84,180 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1972
Listing agent Garrett Huie License #181041
Listing office SVN | OAK Realty Advisors
Listing date Feb 25, 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 SVN | OAK Realty Advisors
HighLights
- Value‑add investment opportunity with significant upside potential.
- Projected first‑year Net Operating Income (NOI) of $532,294.
- Projected Effective Gross Income (EGI) growth from $994,912 (Year 1) to $1,074,693 (Year 3).
- Units are 31.7% larger than the competitive set average.
- Desirable mix of one and two‑bedroom units, including spacious townhomes.
- Located near the American Airlines Maintenance Base and the revitalizing Route 66 corridor.
Overview
Avalon Court, located at 1246 South Memorial Drive in Tulsa, Oklahoma, presents a 92-unit multifamily community. This property offers a value-add investment opportunity. The community features a mix of one and two-bedroom units, including townhomes. The property has potential through lease-up of current vacancy and operational enhancements. The model projects a first-year Net Operating Income (NOI) of $532,294. The property’s Effective Gross Income (EGI) is projected to grow from $994,912 in Year 1 to $1,074,693 by Year 3, reflecting an annual EGI increase of 5.22% in the first year, tapering to 2.32% by Year 3. Operating expenses are expected to remain steady, totaling approximately 46% of EGI by Year 3. The property's units are 31.7% larger than the competitive set average. Located near the American Airlines Maintenance Base and the revitalizing Route 66 corridor, this asset is positioned in the East Tulsa multifamily market. The property size is 84180 square feet.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Cove On Memorial
Real Estate Agency
Location Insight
- Map
- Local Demand
- City
- Tulsa
- County
- Creek
- State
- Oklahoma
- Longitude
- -95.8867
- Latitude
- 36.144834
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 92-unit multifamily community with value-add potential in East Tulsa.
Where is this apartment building located?
The property is located at 1246 S Memorial Dr Tulsa, OK.
What are key features of this property?
This property features: Value‑add investment opportunity with significant upside potential.; Projected first‑year Net Operating Income (NOI) of $532,294.; Projected Effective Gross Income (EGI) growth from $994,912 (Year 1) to $1,074,693 (Year 3).
