3211 S 79th E Ave, Tulsa, OK 74145

Recently Renovated & Well Maintained

Avera Living Memorial Apartments offers investors a turnkey asset with modern upgrades, ensuring minimal deferred maintenance. Originally constructed as a hotel in 1996 and renovated and converted to multifamily 2023. The property features updated interiors, well-maintained exteriors, and modernized community amenities, reducing operational expenses for new ownership.

Unlike value-add properties requiring significant capital improvements, Avera Living Apartments provides immediate cash flow stability while still offering potential operational efficiencies. The recent renovations enhance tenant satisfaction, contributing to consistent occupancy and long-term rental demand.

For investors seeking a low-maintenance, income-producing asset in a strong rental market, Avera Living Apartments presents a compelling opportunity.

Prime Location Near Major Employers & Attractions

Avera Living Memorial Apartments is centrally located near Tulsa’s largest employment centers, making it a highly desirable rental option for professionals and Work force housing. Major employers in the area include:

• St. Francis Hospital

• Hillcrest Hospital

• Tulsa International Airport

• River Spirit Casino Resort

• Ascension St. John Hospital

Additionally, popular retail centers and entertainment hubs such as The Gathering Place, South Roads Shopping Center, and Woodland Hills Mall are just minutes away. With convenient access to major highways, including I-44, Broken Arrow Expressway and U.S. 169, tenants enjoy easy commutes to work, shopping, and entertainment destinations.

Tulsa Housing Authority HAP Agreement In-Place

The executed HAP contract for Avera Living Memorial Apartments began on March 1, 2024, and covers a 5-year term, with the option to renew for another five years. The agreement applies to 10 units under the HUD Project-Based Voucher Program, offering a reliable source of rental income backed by the government. For the owner, this arrangement reduces vacancy risk, provides consistent cash flow, and ensures occupancy in designated units—making it a valuable addition to the property’s financial foundation while supporting affordable housing in the community.

Tulsa’s Strong Multifamily Market

Tulsa’s multifamily market continues to outperform national trends, supported by steady job growth, population increases, and resilient rental demand. Oklahoma’s cost of living remains below the national average, making Tulsa an attractive destination for business expansion and workforce relocation.

Key Market Indicators:

• Multifamily rents in Tulsa remain resilient, with steady annual increases despite national market fluctuations.

• Strong employment growth in healthcare, aerospace, and manufacturing fuels consistent tenant demand.

• Low vacancy rates support stable cash flow and long-term appreciation potential.

With these strong fundamentals in place, Avera Living Memorial Apartments is well-positioned for continued success in one of Tulsa’s most stable rental markets.