TULSA, OK—Capstone Apartment Partners announces the $5.35 million sale of a single-family housing portfolio in Tulsa and Broken Arrow, Oklahoma. Comprised of 27 rental homes, the portfolio was approximately 90% occupied at the time of closing.
Capstone’s Chris O’Hare, Mike Marrara, David Dirkschneider, and William Forrest sold the portfolio on behalf of Mount Family Revocable Trust. The buyer is RR4 Opco1 LP, who plans to employ professional property management.
“The strength of Tulsa’s rental market was apparent, as we were able to deliver two competitive offers within the first 24 hours of launch and ultimately closed at a price well above the seller’s expectations,” said Chris O’Hare.
The Tulsa single-family portfolio contains 15 three-bedroom homes and 11 four-bedroom homes. 24 out of the 27 have a minimum of two bathrooms and the average square footage of the portfolio was 1,741 sf per house. The average year of construction for the 27 homes is 1988 with the oldest being built in 1955 and the newest in 2006.