Fifty One flats - 96 uNITS
Executive Summary
Axe Folio is pleased to present Fifty-One Flats, a 96-unit multifamily offering located in the heart of South Tulsa, Oklahoma. Built in 1970 and well maintained under recent professional management, the property offers immediate in-place cash flow and a compelling price per unit well below recent sales comps and replacement cost.
Surrounded by a deep employment base, including Saint Francis Health System, American Airlines, and Amazon, Fifty-One Flats is strategically positioned in a submarket experiencing stable occupancy and continued rent growth. With its central location, proven demand, and strong operational fundamentals, Fifty-One Flats presents an excellent opportunity for investors seeking durable income and long-term upside.
Capital replacement over the last 3 years
Fifty One Flats
Has undergone extensive capital repairs since 2021, totaling $286,409 in the following major categories:
Plumbing: $74,089
- Installed new hot water heaters in 2021.
- Undertook significant repairs and upgrades to exterior and water main lines throughout the property.
HVAC: $113,000
- Completely replaced HVAC systems in 42 units.
Electrical Panels: $40,540
Updated and brought electrical panelboards up to code in units.
Driveway Updates & Refinish: $13,000
- Applied new seal coating and striping in 2022.
Stairway Improvements: $24,000
Ongoing improvements to the stairways, with 15 staircases restored.
