6710 Utica PlTulsa, OK 74136

Property Details for 6710 Utica Pl

Year built

2006

Lot size

1.87 AC

Property size (Sq ft)

46,665 SF

Property type

Residential income homes

Property subtype

Apartment buildings

Description

This exceptional 31-unit townhome community in Tulsa, Oklahoma presents a compelling value-add investment opportunity. The property, built in 2006 and extensively renovated in 2023-2024, boasts 46,665 square feet across ten, two-story buildings situated on a 1.87-acre lot. Currently operating at 100% occupancy, the property offers significant upside potential due to below-market rents. Recent capital expenditures exceeding $400,000 include new roofs, exterior paint, fencing, Hardi Plank siding, and deck/stair upgrades. The average unit rent is $1,296 per month, significantly below market rates, allowing for substantial rental increases. Each unit features two-car garages, rear balconies, and stair access. The property's prime location offers convenient access to the Joe Creek Trail, connecting to the extensive RiverParks Greenspace network, and is minutes away from major retail, schools, Oral Roberts University, and Oklahoma Surgical Hospital. The property is zoned RS3 and has a Net Operating Income (NOI) of $400,000, resulting in a 6.40% cap rate. This turnkey investment offers a rare combination of strong cash flow, significant upside potential, and a desirable location. The asking price is $5,900,000, or $190,322.58 per unit. The property's 1,600 square feet of net rentable space offers a price per square foot of $126.43. This is a remarkable opportunity for investors seeking strong returns in a thriving market.

Location Insight

City

Tulsa

County

Tulsa

State

Oklahoma

Latitude

36.0656

Longitude

-95.9658

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