The Crossing at Southern Hills 2217 E 59th St 173 Unit Apartment Building For Sale Tulsa, OK 74105
EXECUTIVE SUMMARY
Call for pricing
London Square Apartments presents a high-upside value-add investment opportunity in the Tulsa multifamily market. This 173-unit garden-style community is currently underperforming, offering low occupancy and significant repositioning potential for investors looking to stabilize and enhance an asset in a strong rental submarket.
The property requires substantial capital improvements, providing an opportunity to renovate unit interiors, improve community amenities, and optimize management efficiencies to significantly increase occupancy and rental income. With its prime South Tulsa location, London Square benefits from proximity to major employment hubs, retail centers, and top-rated schools, ensuring long-term demand once repositioned.
For investors seeking a true value-add opportunity, this asset offers tremendous upside potential through strategic renovations and lease-up efforts.
London Square Apartments presents a high-upside value-add investment opportunity in the Tulsa multifamily market. This 173-unit garden-style community is currently underperforming, offering low occupancy and significant repositioning potential for investors looking to stabilize and enhance an asset in a strong rental submarket.
The property requires substantial capital improvements, providing an opportunity to renovate unit interiors, improve community amenities, and optimize management efficiencies to significantly increase occupancy and rental income. With its prime South Tulsa location, London Square benefits from proximity to major employment hubs, retail centers, and top-rated schools, ensuring long-term demand once repositioned.
For investors seeking a true value-add opportunity, this asset offers tremendous upside potential through strategic renovations and lease-up efforts.
PROPERTY FACTS
| Sale Type | Investment |
| No. Units | 173 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 5.99 AC |
| Building Size | 154,634 SF |
| Average Occupancy | 51% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 1.59/1,000 SF |
| Zoning | RS-2 - Multi- Family |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Heating
- Ice Maker
SITE AMENITIES
- Courtyard
- Laundry Facilities
- Picnic Area
- Playground
- Property Manager on Site
- Gated
- Video Patrol
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | - | 530 |
| 1+1 | 43 | - | 638 |
| 2+1 | 88 | - | 814 - 844 |
| 2+1.5 | 8 | - | 1,010 |
| 2+2 | 6 | - | 1,100 |
| 3+2 | 22 | - | 1,100 |
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PROPERTY TAXES
| Parcel Number | 99331-93-31-23250 | Improvements Assessment | $1,002,595 |
| Land Assessment | $86,141 | Total Assessment | $1,088,736 |
