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Description

Capstone is pleased to present the Flats @ 139, a 259-unit apartment complex conveniently located with frontage on Interstate 244 in Tulsa, Oklahoma. Constructed in 1969, this property distinguishes itself from the competition due to the extensive list of upgrades over the recent years, which include new roofing, windows, central HVAC, and many other large capital items. Furthermore, the property offers a compelling value-add proposition. The current ownership has started targeted upgrades of installing washer and dryer hookups and proven a buyer’s ability to achieve a 117.06% return on their investment of this single upgrade alone. Additionally, the sellers have successfully pushed rents, with the most recent leases achieving a 19.22% premium over in-place leases, proving significant upside for a buyer. The complex is strategically situated in an area with a thriving employment market, which ensures a consistent demand for housing and underpins a stable income stream. This blend of recent enhancements, value-add potential, and a solid employment landscape positions this property as an ideal asset for investors aiming to augment returns.

Investment Highlights:

Well-Maintained with Recent Major CapEx

Low-Cost Value-Add with High Return

Exceptional Access with an Abundance of Nearby Employment

  • Address 139 North Garnett Road
  • City Tulsa
  • State/county Oklahoma
  • Zip/Postal Code 74116

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