Associate Advisor 918.201.2005 [email protected]Kristi Lord Managing Director 918.201.2005 [email protected]Benjamin Davis Managing Director 918.201.2005 [email protected]Raymond Lord PROPER PROPERTY HIGHLIGHTS Y HIGHLIGHTS Excellent Investment Property Well Located Significant Capital Improvements Strong Occupancy PRESENTED B PRESENTED BY: FOR SALE | MULTI-FAMILY All SVN® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY 5137 East 47th Street | Tulsa, OK 74135
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
All SVN® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY5137 East 47th Street | Tulsa, OK 74135
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
DISCLAIMER
The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used forany other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of theSVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.
The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person isauthorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving thesematerials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor.
Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the informationcontained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. ThisOffering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, andthere can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations orwarranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made availableto the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed anddelivered Real Estate Purchase Agreement between it and Owner.
The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor any oftheir officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochureare advised and encouraged to conduct their own comprehensive review and analysis of the Property.
This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, toreject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with anyentity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochureor making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable toOwner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to releasethe Owner and the SVN Advisor from any liability with respect thereto.
To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any suchcorrespondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaserproceeds at its own risk.
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
TABLE OF CONTENTS
All SVN® Offices Independently Owned & Operated.The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
1. PROPERTY INFORMATION 4
2. LOCATION INFORMATION 8
3. FINANCIAL ANALYSIS 10
4. DEMOGRAPHICS 18
5. ADDITIONAL INFORMATION 22
5137 East 47th Street | Tulsa, OK 74135
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITYFOR SALE | MULTI-FAMILY
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
1 PROPERTY INFORMATION
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 5
PROPERPROPERTTY OY OVERVERVIEWVIEW
SVN OAK Realty Advisers is pleased to offer Old South Apartments. This 58 unit apartment communityhas undergone significant capital improvements over the past two years allowing an investor to takeadvantage of the stable occupancy and improving market performance in the area. The property is welllocated and has an assumable Freddie Mac Non Recourse Loan at a low interest rate fixed for anadditional eight years.
PROPERPROPERTTY HIGHLIGHTSY HIGHLIGHTS
• Excellent Investment Property
• Well Located
• Significant Capital Improvements
• Strong Occupancy
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 6
PROPERPROPERTTY HIGHLIGHTSY HIGHLIGHTS
• Excellent Investment Property
• Well Located
• Significant Capital Improvements
• Strong Occupancy
• Brand New Roof with 25 Year Warranty
• Great Unit Mix of 1, 2 & 3 Bed Units
• Upside potential with minimal unit improvements•
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
SECTION 1 | PROPERTY INFORMATION
Complete Highlights
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
SECTION 1 | PROPERTY INFORMATION
Property Overview
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 7
Construction
Year Built: 1967Number of Stories: 2
Foundation: SlabParking Surface: New 2" Overlay AsphaltNumber of Units: 58
Roof: New 25 Year Warranty Asphalt Shingle
Physical Description
Property Name: Old South ApartmentsType of Ownership: Fee Simple / LLC
APN: 38825-93-27-10400Lot Size: 2.38 AC
Building Size: 49,362 SFRentable SF: 48,931 SF
Building Class: C+Zoning: RS-3
Parking Spaces: 87Parking Ratio: 1.68
Interior Finish
Walls: DrywallCeilings: Acostical Drywall
Floor Coverings: Mixture of Carpet and Faux Wood VynalRestrooms: Per unit
Corridors: common open
5137 East 47th Street | Tulsa, OK 74135
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITYFOR SALE | MULTI-FAMILY
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
2 LOCATION INFORMATION
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 9
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
SECTION 2 | LOCATION INFORMATION
Location Maps
5137 East 47th Street | Tulsa, OK 74135
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITYFOR SALE | MULTI-FAMILY
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
3 FINANCIAL ANALYSIS
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
SECTION 3 | FINANCIAL ANALYSIS
Financial Summary
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 11
INVESINVESTMENT OTMENT OVERVERVIEWVIEW
Price $2,150,000Price per Unit $37,068GRM 5.6CAP Rate 8.3%Cash-on-Cash Return (yr 1) 14.08 %Total Return (yr 1) $101,441Debt Coverage Ratio 1.76
OPERAOPERATING DTING DAATTAA
Gross Scheduled Income $386,430Other Income $27,193Total Scheduled Income $413,623Vacancy Cost $59,489Gross Income $354,134Operating Expenses $174,236Net Operating Income $179,407Pre-Tax Cash Flow $77,418
FINANCING DFINANCING DAATTAA
Down Payment $550,000Loan Amount $1,600,000Debt Service $101,989Debt Service Monthly $8,499Principal Reduction (yr 1) $24,023
INCINCOME SUMMAROME SUMMARYY PER UNITPER UNIT
Gross Potential Income $386,430 $6,662.00Less Vacancy & Bad Debt -$59,490 -$1,026.00Laundry Income $6,819 $117.00Other Income $18,580 $320.00Misc Other Income $1,795 $30.00
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 12
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
SECTION 3 | FINANCIAL ANALYSIS
Income & Expenses
INCINCOME SUMMAROME SUMMARYY PER UNITPER UNIT
NET OPERATING INCOME $179,407 $3,093.00
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 13
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
SECTION 3 | FINANCIAL ANALYSIS
Rent Roll
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 14
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
SECTION 3 | FINANCIAL ANALYSIS
Rent Roll
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 15
A-106 1 1 650 02/03/2011 M to M $565 $0.87 $575 $158
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
SECTION 3 | FINANCIAL ANALYSIS
Rent Roll
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 16
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
SECTION 3 | FINANCIAL ANALYSIS
Unit Mix Summary
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 17
Ann Cade $0.00Reggie Adair $0.00Karie Manton $0.00
Walter Hampton, Danny $0.00Higinio Mazariegos $0.00Elayne Medina, $0.00
Generated 2/2/2017 4:06 PM Page 2 of 2
5137 East 47th Street | Tulsa, OK 74135
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITYFOR SALE | MULTI-FAMILY
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
4 DEMOGRAPHICS
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
SECTION 4 | DEMOGRAPHICS
Demographics Report
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 19
1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILES
Total households 4,883 41,636 118,874
Total persons per hh 2.2 2.2 2.2
Average hh income $56,974 $67,580 $64,601
Average house value $157,747 $201,101 $200,655
1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILES
Total population 10,957 90,228 264,337
Median age 40.5 41.6 37.5
Median age (male) 37.1 39.3 35.7
Median age (female) 41.9 43.5 39.3
* Demographic data derived from 2010 US Census
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
SECTION 4 | DEMOGRAPHICS
Demographics Map
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 20
* Demographic data derived from 2010 US Census
1 M1 Mileile 3 M3 Milesiles 5 M5 Milesiles
Total Population 10,957 90,228 264,337
Population Density 3,488 3,191 3,366
Median Age 40.5 41.6 37.5
Median Age (Male) 37.1 39.3 35.7
Median Age (Female) 41.9 43.5 39.3
Total Households 4,883 41,636 118,874
# of Persons Per HH 2.2 2.2 2.2
Average HH Income $56,974 $67,580 $64,601
Average House Value $157,747 $201,101 $200,655
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 21
5137 East 47th Street | Tulsa, OK 74135SUBJESUBJECT PROPERCT PROPERTTYY
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
SECTION 4 | DEMOGRAPHICS
Rent Comps Map
5137 East 47th Street | Tulsa, OK 74135
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITYFOR SALE | MULTI-FAMILY
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
5 ADDITIONAL INFORMATION
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 23
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
SECTION 5 | ADDITIONAL INFORMATION
Additional Photos
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
SECTION 5 | ADDITIONAL INFORMATION
Advisor Bio & Contact 1
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 24
Raymond LordManaging DirectorSVN | OAK Realty Advisors
As an apartment specialist with SVN OAK Realty Advisors, in Oklahoma, Kansas and Arkansas, Raymond’sprimarily focus on multi-family properties since 1987 and their dispositions for banks, private clients as well asInstitutional Investors. In addition he has an extensive background in the disposition of assets for FNMA, FDICand in the past the RTC and various institutional investors, and banking assignments throughout the Midwestand Southwest region of the U.S. His forte is financial analysis of investments and effective marketing ofassets both regionally and nationally. Raymond has transacted over $2.5 billion of transactions, includinginvestment sales, joint ventures, redevelopment and recapitalization advisory assignments.
SVN OAK Realty Advisors Tulsa OK Managing Director 2016NAI Commercial Properties Tulsa OK Principal 2000 to 2016 Commercial Real Estate Tulsa OK Investment 1997to 2000The Lyon Group Management CA President 1987-1997
American Village on the Lake 464 Units Tulsa OK Redfern Portfolio 1,465 Units Tulsa OK Woodlake Apartments799 Units OKC OK One Western & Quail Ridge 150,000 SF Office OKC Brookline Office Complex 74,000 SF OKCModern Bindery Industrial 100,000 SF Tulsa OKMacco Properties 1,541 units OKC OKCobblestone 482 Units Tulsa OKCase & Associates 585 Units PhoenixAmerican Residential 324 Units Tulsa OKReal Source 284 & 544 Tulsa / OKCSterling American 682 Unit Tulsa OK
Multifamily Dispositions/Acquisitions ; PropertyRepositioning ;Court Appointed Approved Receiver
Licensed Real Estate Broker, OklahomaSVN OAK Realty Advisor'sNational Association of RealtorsRegional DirectorGreater Tulsa Association of Realtors
Fax: 918.201.2006
Cell: 918.850.1779
Address: 9321 South Toledo AveTulsa, OK 74137
EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK
SECTION 5 | ADDITIONAL INFORMATION
Advisor Bio & Contact 2
All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 25
Benjamin DavisManaging DirectorSVN | OAK Realty Advisors
Ben is a Principal and Managing Director at SVN OAK Realty Advisors and has over 10 years of experiencespecializing in the marketing and sale of multifamily properties in the region.
Since he began his career in 2006, he has been involved in the sale of over $400 million commercial realestate transactions and has proven himself to consistently be one of the top multifamily brokers in the region.