1306 E 2nd St - Apartments FOR SALE


Tulsa, OK 74120
$350,000 USD
918-694-0508
1306 E 2nd St, Tulsa, OK for Sale
$350,000 USD
Apartments - FOR SALE
1/11
null | 7.6% Cap Rate

1306 E 2nd St
Tulsa, OK 74120


OVERVIEW

All 1 bedroom units around 450 sqft per unit. 2 units have washer and dryer hookups and rent for $25 more per unit. There is a shared laundry in the hallway for the other 4 units that is card operated that a 3rd party company owns and building gets 50% of profits from. Building was completely remodeld in 2019 all the way to the studs. All new electric, all new floor joist, all new sub floor, all new plumbing (water and sewer), all new fixtures, new roof, new vinyl siding, new windows. They are simple units and tend to stay full. The building did have severe foundation issues. A structural engineer was hired and it was repaired to his specs. They were not able to completely get rid of some of the deflection in the floor, primairly on the 2nd story. It has not caused any problems with renting it out and is not completely uncommon in buildings of that age. Very close to downtown shopping and desirable location. Next to peoria where Tulsas bus rapid transit is. the city has offered a ton of incentive for businesses to develop peoria as part of that plan. Owner is selling because they have moved into larger assets. Owner/broker

FOR SALE DETAILS

PRICE

$350,000 USD

PRICE/SF

$142 USD /SF

# OF UNITS

6

PRICE/UNIT

$58,333

CAP RATE

7.6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1928

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,013 SF

ZONING

CH

APN/PARCEL ID

24275-93-06-16450

ASK ABOUT THIS PROPERTY

Corbin MarcotteThe Investors BrokerMore Info
918-694-0508

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Corbin MarcotteThe Investors BrokerMore Info
918-694-0508

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.