3038 101 Ave Tulsa, OK 74129
- Apartment buildings
Current Use by Public Records
- Apartment buildings
Property Details for 3038 101 Ave
- Year built
- 1973
- Property type
- Apartment buildings
Description
This fee-simple owned, 132-unit apartment building in Tulsa, Oklahoma presents a compelling investment opportunity. The property, boasting 95,244 net rentable square feet, is comprised of eleven, two-story buildings constructed in 1973 and extensively renovated in 2023. Currently operating at 92% occupancy, the property generates a pro-forma NOI of $582,646, representing a 7.11% pro-forma cap rate. The asking price is $8,200,000, translating to $62,121.21 per unit. Located at 3038 S 101st E Ave, Tulsa, OK 74129 (APN 47340-94-18-31280), the complex benefits from its strategic location near major highways (Highway 69, US-169, and I-44), ensuring excellent accessibility. The unit mix of one- and two-bedroom apartments caters to a broad renter demographic. Significant value-add potential exists through strategic rental rate increases to market levels. This well-maintained asset offers a stable income stream with considerable upside for the discerning investor. The property's recent renovation enhances its appeal and minimizes immediate capital expenditure needs. This is a rare opportunity to acquire a stable, high-occupancy multifamily property in a prime Tulsa location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tulsa
- County
- Tulsa
- State
- Oklahoma
- Longitude
- -95.8641
- Latitude
- 36.1195
