Waterfront Realty
Listed by Waterfront Realty
$4,500,000
1920 S Cheyenne Avenue
Details
APN 00525-92-12-00040
Property Type Multifamily
Sub Type Apartment Building, Apartment/Condo
Square Footage 27,394
Units 29
Cap Rate 5.50%
NOI $265,000
Occupancy 100%
Broker Co-Op Yes
Class B
Year Built 1950
Buildings 7
Stories 2
Acreage 1.292
Parking Spaces 34 per unit
Investment Type Owner/User
Occupancy Date 01/15/2026
Ownership Riverside 21 LLC
Sale Condition For sale by owner
Multifamily | 29 Units | Strong Redevelopment Potential
Marketing description
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. Conceptual 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.
Investment highlights
All units have been upgraded with washers and dryers (except 1), quartz counters, overhead ceiling fan in the living room, and TV brackets in the master bedroom and the living room. This expense is reflected in the attached T12 and should not reoccur for some time.
Listing Contacts
Waterfront Realty
Listed by Waterfront Realty
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Loan Amount
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Annual Debt Service
$--
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Annual Cash Flow
$265,000.00
$22,083.33/mo
Valuation Metrics
0
DSCR
5.89%
Cap Rate
5.89%
ROI
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