18-Unit Studio Apartment
5323 E 12th Street, Tulsa, OK 74112
For Sale
$1,050,000
Pending
A Midtown Tulsa rental property offers a predominantly studio mix and established operating history.
Property Size10,454 SF
Days on Market28
Property Features for 5323 E 12th Street
General Information
Standard status
Size
Property subtype
Net Operating Income
Site & Location
Neighborhood
Additional Details
Average Monthly Rent
Multifamily Units
Tenant in Place
Building Details
Year Built
Listing Agency:
Ironstone Management Group LLC
(918) 215-4747
Listed By:
Megan Dowell · License #183711
(720) 725-6677
Source:
Spiritrealtygroup
Added: Oct 13
Changed: Nov 8
Last Checked: Nov 8 at 3:23PM
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.
Baltic Arms Apartments is an 18-unit multifamily property built in 1963, with 15 residences configured as studios. The property contains 10,454 square feet and is described as stabilized, with rental income in place.
The building is in Midtown Tulsa, near historic Route 66, the University of Tulsa, major medical employers, and Downtown Tulsa.
The building is in Midtown Tulsa, near historic Route 66, the University of Tulsa, major medical employers, and Downtown Tulsa.
Key Highlights
- 18‑unit apartment property built in 1963
- 15 of 18 residences have studio floorplans
- 10,454‑square‑foot property in Midtown Tulsa
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,249
Cap Rate
8.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,864,980
$1.9M
Cap Rate 7%
$1,332,129
$1.3M
Cap Rate 9%
$1,036,100
$1.0M
Market Conditions
NOI Build-Up for 10,454 SF
Gross rent
$188.2K $18.00/SF
− Vacancy
−$18.6K −$1.78/SF
EGI
$169.5K $16.22/SF
− OpEx
−$76.3K −$7.30/SF
NOI
$93.2K $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%
$1,864,980
Cap Rate 7%
$1,332,129
Cap Rate 9%
$1,036,100
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.17M – $1.55M
NOI $93,249 @ 7.0% cap · market cap 8.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,077 @ 7.0% cap · market cap 14.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
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Business Placement
Demographics for 74112, OK
20,810
Population
10,524
Households
2
Avg Household Size
38
Median Age
27%
College-Educated
87%
High-School Grad
6.8 sq mi
ZIP Area
3,060
Density / Sq Mi
$55,848
Median Household Income
$37,151
Median Earnings
$1,024
Median Rent
$149,800
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 - A Midtown Tulsa rental property offers a predominantly studio mix and established operating history.
Where is this apartment building located?
The property is located at 5323 E 12th Street Tulsa, OK.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 18‑unit apartment property built in 1963; 15 of 18 residences have studio floorplans; 10,454‑square‑foot property in Midtown Tulsa
