Avalon Court Apatments Tulsa, OK

Avalon Court

Address

1246 South Memorial Drive
Tulsa, OK 74112

Executive Summary

Avalon Court, located at 1246 South Memorial Drive in

Tulsa, Oklahoma. This 92-unit multifamily community offers a compelling value-add investment opportunity. The

property features a desirable mix of one and two-bedroom units, including spacious townhomes, with significant

upside potential through the lease-up of current vacancy and strategic operational enhancements.

The investment assumptions are based on a markets value. The model projects a first-year Net Operating Income

(NOI) of $532,294. The property’s Effective Gross Income (EGI) is projected to grow from $994,912 in Year 1 to

$1,074,693 by Year 3, reflecting an annual EGI increase of 5.22% in the first year, tapering to 2.32% by Year 3.

Operating expenses are expected to remain steady, totaling approximately 46% of EGI by Year 3.

Avalon Court offers a highly attractive opportunity for investors looking for significant value creation through

occupancy stabilization and management efficiencies. The investment is further enhanced by the property's

superior physical density, offering units that are 31.7% larger than the competitive set average. Located near the

American Airlines Maintenance Base and the revitalizing Route 66 corridor, this asset is positioned as a strong

performer in the East Tulsa multifamily market.

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Amenities

Strategic Hub Positioning Avalon Court is strategically positioned equidistant from northern industrial jobs and southern commercial corridors. This central location bridges the gap between major employment nodes, offering residents convenient access to diverse economic sectors. High-Visibility Frontage The property benefits from direct frontage on South Memorial Drive, a primary arterial carrying 20,000 to 30,000 vehicles daily. This high-traffic exposure ensures constant visibility and supports sustained occupancy through organic drive-by marketing. Route 66 Revitalization Located near the historic Route 66 corridor, the asset capitalizes on a revitalizing district receiving significant municipal investment. Residents enjoy proximity to the Mother Road Market and a growing array of cultural and lifestyle amenities. Regional Highway Access Situated 1.5 miles from Interstate 44 and 1.2 miles from US-64, the community offers exceptional regional connectivity. This infrastructure provides rapid access to Downtown Tulsa, Broken Arrow, and key employment centers across the metro. Workforce Demographics The immediate area features strong workforce demographics, with a median household income of $55,848 and high population density. This profile supports durable demand for quality rental housing, aligning well with the property’s value proposition. Aerospace Hub Proximity The property is located just 4.5 miles from the American Airlines Maintenance Base and Tulsa International Airport. This proximity anchors the asset to the region’s largest industrial cluster, serving a deep pool of over 5,500 aerospace professionals.