Historic 17-Unit Apartment
24 E 17th St, Tulsa, OK 74119
For Sale
$2,100,000
Established multifamily property with additional acreage in Tulsa’s midtown district.
Property Size15,495 SF
Price / SF$135.53
Days on Market88
Property Features for 24 E 17th St
General Information
Standard status
Size
Site & Location
Neighborhood
Building Details
Year Built
Listing Agency:
Ironstone Management Group LLC
Listed By:
Megan Dowell · License OK #183711
(720) 725-6677
Source:
Therentzteam
Added: Aug 17
Changed: Oct 25
Last Checked: Oct 5 at 11:24PM
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 Ironstone Management Group LLC
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Investment Insights
Based on property information with market context.
Built in 1929, this apartment property contains 17 units and approximately 9,700 square feet of rentable space. The site encompasses approximately 0.57 total acres and includes additional acreage beyond the existing improvements.
Current occupancy is 94.1%, providing an established operating profile for the property. Located at 24 East 17th Street in Tulsa, the community sits within the city’s midtown district.
Current occupancy is 94.1%, providing an established operating profile for the property. Located at 24 East 17th Street in Tulsa, the community sits within the city’s midtown district.
Key Highlights
- 17‑unit apartment property
- Approximately 9,700 square feet of rentable space
- Approximately 0.57 total acres with additional acreage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$138,214
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,764,280
$2.8M
Cap Rate 7%
$1,974,486
$2.0M
Cap Rate 9%
$1,535,711
$1.5M
Market Conditions
NOI Build-Up for 15,495 SF
Gross rent
$278.9K $18.00/SF
− Vacancy
−$27.6K −$1.78/SF
EGI
$251.3K $16.22/SF
− OpEx
−$113.1K −$7.30/SF
NOI
$138.2K $8.92/SF
Area
Tulsa, OK
Vacancy
9.90%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,764,280
Cap Rate 7%
$1,974,486
Cap Rate 9%
$1,535,711
Alternative Uses
Best Use
Apartment 5plus
$1.97M
$1.73M – $2.30M
NOI $138,214 @ 7.0% cap · market cap 6.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.30M
$2.89M – $3.86M
NOI $231,339 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,416
Businesses Nearby
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Business Placement
Demographics for 74119, OK
3,445
Population
3,229
Households
1.1
Avg Household Size
40
Median Age
55%
College-Educated
95%
High-School Grad
0.8 sq mi
ZIP Area
4,306
Density / Sq Mi
$56,520
Median Household Income
$48,192
Median Earnings
$1,161
Median Rent
$207,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Established multifamily property with additional acreage in Tulsa’s midtown district.
Where is this apartment building located?
The property is located at 24 E 17th St Tulsa, OK.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 17‑unit apartment property; Approximately 9,700 square feet of rentable space; Approximately 0.57 total acres with additional acreage
