Metro Plex Apartments
Multifamily | 217 Units
Marketing description
Colliers is pleased to present Metro Plex Apartments, a 217-unit, 1975-vintage community located in Tulsa’s thriving East Tulsa corridor. Following a comprehensive down-to-the-studs renovation, the property has been fully repositioned both physically and operationally, offering residents a modern living experience at an attainable price point. The community features a balanced mix of one-, two-, and three-bedroom floorplans that outperform submarket peers in both rent growth and occupancy—providing durable cash flow and long-term competitiveness. Strategically situated near I-44 and Highway 169, Metro Plex benefits from exceptional connectivity to Tulsa’s largest employment hubs, including Saint Francis Health System, American Airlines, Amazon, and the Eastgate Metroplex—a 1-million-square-foot mixed-use complex anchored by Coca-Cola Enterprises, Capital One, Alorica, and Workforce Oklahoma. More than 85,000 jobs lie within a five mile radius, reinforcing consistent renter demand. Anchored by strong workforce demographics, extensive recent CapEx, and immediate operational upside through washer/dryer additions, Metro Plex Apartments offers investors a stabilized asset with proven performance, meaningful income growth potential, and enduring value in one of Tulsa’s most resilient multifamily submarkets.
Investment highlights
Comprehensive “Downto- the-Studs” Renovation
Metro Plex has undergone a transformative renovation program that repositioned the asset both physically and operationally. The extensive CapEx investment modernized interiors and common areas, addressed deferred maintenance, and improved overall property efficiency. These enhancements have resulted in a substantially upgraded product offering with strong resident appeal, limited ongoing capital needs, and performance metrics that align with newer Class B+ communities in the Tulsa market.
Immediate Upside Through Washer/Dryer Additions
A portion of units have been upgraded to include in-unit washer/dryers, and the remaining units have existing connections which represent an easy, high-ROI revenue enhancement. Rent premiums of $50–$75 per month are achievable in this submarket, where in-unit laundry ranks among the top resident preferences. This simple retrofit provides investors with clear, near term income growth potential within an already stabilized asset.
Superior Unit Mix Supporting Above-Market Performance
Metro Plex offers a balanced mix of one-, two-, and three-bedroom floorplans that appeal to a wide renter base—from single professionals to young families. This mix outperforms nearby competitors in both occupancy and rent growth, driven by affordability and functional layouts that meet workforce housing demand. The property’s average rents remain well below new Class A construction, preserving strong leasing velocity and longer market competitiveness.
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