Ivy Place is a well positioned property with management upside. Since 2014 the property has been the recipient of a significant amount of capital improvements including replacing all the main components for heat and air. T

The community is well located in an area where the majority of the key employers are in the manufacturing and distribution areas although there is also a large retail component as well with the Hard Rock Casino & Hotel less than 2 miles east on I-244.

Ivy has an excellent unit mix which is conducive to the demographics in the area and has about 0.10 cents per sf of upside in the rents based on other comparable properties in close proximity.

This is an excellent property for someone who does not want to do any heavy lifting up still likes upside on the management side.

Location Description:

Ivy Place is well located in east Tulsa off the the Garnett exit of hwy 244. The property has excellent visibility from the freeway and easy access to the downtown CBD as well as other main arteries for the city of Tulsa.

The immediate area features a number of excellent employers which cater to manufacturing, distribution, retail, and entertainment including the Hard Rock Casino & Hotel, IC Bus, Nordam Repair Division, Melton Truck lines, Spirit Aero Systems, and Sherwood Construction Co. to name a few.

The community is also within close proximity to a number of different grocery stores and bakeries such as La Hacienda and Pancho Anaya Bakery as well as local restaurants including El Gallo Loco and El Ranchero Restaurant.

Ivy also has a number of different elementary, middle, and high schools within a 3 mile radius making it a central location form residents.

Highlights:

>> All New Double Pane Vinyl Windows

>> All New 60 mil TPO roofs

>> All New Furnaces & Condensers Throughout

>> All New Exterior Paint

>> All New 2" Overlay and Restripe Over the Entire Parking Lot

>> All New Playground

>> Interiors have received New Carpet, Vinyl in the Entry and Wet Areas, Fixtures, Appliances, and Hot Water Heaters

>> Upside In Management

>> Rents Per SF Well Below Market Comparables in the Immediate Area

>> Allows for New Debt

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