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Riverside 21 Apartments 1920 S Cheyenne Ave 29 Unit Apartment Building $4,500,000 ($155,172/Unit) 5.89% Cap Rate Tulsa, OK 74119
Investment Highlights
- Current loan bal of $1.9m is assumable. 3 1/2 years remaining at 4.13% with a monthly payment of $10,847 inclusive of escrow for property taxes.
- Largest tract of land with the most frontage on Riverside Drive and the Arkansas River which could be redeveloped.
- Best location in Tulsa Oklahoma
- High growth area in the last 5 years.
Executive Summary
Prime location 1.3 acres, NE corner of 21st and Riverside with 322' of Riverside Dr. frontage. Appx. 300' back (East) frontage on Cheyenne Ave., and sides (South) W. 21st. Happening area of midtown Tulsa across the street from Daigoro restaurant and river/ trails, around the corner from the Brut Hotel, down the street from popular restaurants and bars, 3 blocks from the nationally recognized Gathering Place Park, and 3 blocks from downtown Tulsa. Conceptional drawing of a 100 unit hotel and parking garage which could be built on the property is attached. The apartments are beautifully renovated 2 bedrooms with refinished oak floors, 11 windows, 5 closets, washer/dryer, crown, covered parking, and quartz kitchen. The complex is 100% occupied. Broker / owner.
Data Room Click Here to Access
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Storage Space
- Washer/Dryer
- Heating
- Ceiling Fans
- Tile Floors
- Crown Molding
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Ice Maker
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
- Wi-Fi
- Yard
- Dining Room
- Garden
- Handrails
- Lawn
- Linen Closet
- Pantry
- Patio
- Smoke Free
- Window Coverings
- Workshop
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Picnic Area
- Furnished Units Available
- Gas Range
- Smoke Free
- Walking/Biking Trails
- Storage Space
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 29 | $1,175 | 850 |
1 1
Property Taxes
| Parcel Number | 00525-92-12-00040 | Total Assessment | $97,350 |
| Land Assessment | $16,366 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $80,984 | Tax Year | 2025 |
Property Taxes
Parcel Number
00525-92-12-00040
Land Assessment
$16,366
Improvements Assessment
$80,984
Total Assessment
$97,350
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Videos
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Matterport 3D Tour
Photos
Street View
Street
Map
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Presented by
Waterfront Realty
Riverside 21 Apartments | 1920 S Cheyenne Ave
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