Delaware Gardens

5104 S. Delaware Place, Tulsa, OK 74105

  • For Sale $2,450,000
  • Property Type Other
  • Property Size 15,644 SF
  • Units 30
  • Date Updated Jul 3, 2025

SVN Oak Realty Advisors is pleased to present the exclusive offering of Delaware Gardens Apartments, a 30-unit multifamily community located at S104 South Delaware Place, Tulsa, OK. Built in 1990, Delaware Gardens Apartments offers a diverse mix of one- and two-bedroom units totaling 15,644 rentable square feet. The asset maintains classic interiors and original finishes, providing a strong foundation for value creation through a targeted renovation strategy. 

Delaware Gardens Apartments presents a compelling light value-add opportunity, with a proven capital improvement plan focused on modest unit interior upgrades and amenity enhancements. Renovation scope averages just $1,240 per unit, yet delivers an average rent premium of $140/unit, generating over $50,400 in new annual income. This translates to a compelling ROI ofl3S.48% on renovation expenditures. 

At the current asking price of $2,450,000 ($81,667 per unit / $115.19 per SF), investors can acquire the property well below replacement cost and capitalize on Tulsa's rental growth trajectory. In-place operations generate a 6.73% cap rate and 4.67% cash-on-cash return, with SVN pro forma metrics projecting up to 7.27% cap rate and 6.SS% cash-on-cash return. The asset's pro form a DSCR of l.26x reflects conservative leverage and strong cash flow coverage. 

Centrally located near key employers, shopping centers, and public transit corridors, Delaware Gardens Apartments is ideally positioned to benefit from continued population inflows and strong rental demand in Tulsa's southeast submarket. This offering provides investors with immediate yield, scalable upside, and long-term value appreciation. 

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Contacts

broker
Raymond Lord

broker
Chase Lord

SVN OAK REALTY ADVISORS

broker
Garrett Huie

SVN OAK REALTY ADVISORS

broker
Dave Pinson

SVN OAK REALTY ADVISORS

Location

Getting Around

  • Walk Score ®

    35/100 Car-Dependent

  • Transit Score ®

    29/100 Some Transit

  • Bike Score ®

    42/100 Somewhat Bikeable
Powered by Walk Score ®
  • City Tulsa, OK
  • Neighborhood Lewiscrest
  • Zip Code 74105
  • Market Tulsa

Points of Interest

  • Train Stop

    8.91 miles

  • QuikTrip

    0.48 miles

  • Minute Mart

    1.18 miles

  • Kum & Go

    1.47 miles

  • Shell

    1.61 miles

  • R&R Food Store

    1.82 miles

  • Francis Energy

    1.88 miles

  • Tesla Supercharger

    3.96 miles

  • ChargePoint

    4.27 miles

  • Frances EV Charging

    5.57 miles

  • Tanner Consulting

    0.57 miles

  • Thomas A. Edison High School Vistitor Parking

    1.04 miles

  • Graham Park

    1.50 miles

  • The Shops at Greenway Village

    1.83 miles

  • Cox Cash Saver

    1.86 miles

  • 56th Street Plaza

    2.06 miles

  • Trader Joe's

    2.11 miles

  • TTCU Federal Credit Union

    2.17 miles

  • Chester Cadieux Plaza

    2.24 miles

  • 41st Street Plaza

    2.24 miles

  • Wingate by Wyndham

    0.12 miles

  • Trade Winds Inn

    0.41 miles

  • Hilton Garden Inn Tulsa Midtown

    1.33 miles

  • Holiday Inn Express & Suites Tulsa Midtown

    1.35 miles

  • Residence Inn

    1.37 miles

  • Comfort Inn Midtown

    1.42 miles

  • Studio 6

    1.61 miles

  • Tulsa Select Hotel

    1.63 miles

  • DoubleTree by Hilton Hotel

    1.76 miles

  • Mariott

    2.15 miles

  • A&W

    0.35 miles

  • Long John Silver's

    0.36 miles

  • Papa John's

    0.51 miles

  • Sushi Train

    0.51 miles

  • McDonald's

    0.52 miles

  • Chili's

    0.53 miles

  • NYC Pizza

    0.56 miles

  • Casa Tequila

    0.57 miles

  • Bodean Seafood Restaurant

    0.67 miles

  • Subway

    0.81 miles

  • Metropolitan College of Legal Studies

    0.19 miles

  • Eisenhower International School

    0.48 miles

  • Grimes School

    0.58 miles

  • Thomas A. Edison Preparatory School

    0.94 miles

  • Carnegie School

    1.19 miles

  • Patrick Henry Elementary School

    1.25 miles

  • McClure School

    1.36 miles

  • Saint Mary School

    1.43 miles

  • Virginia College

    1.60 miles

  • University of Oklahoma - Tulsa

    1.68 miles

  • KinderCare

    2.55 miles

  • Chapman Child Learning Center

    3.51 miles

  • Peppermint Palace Learning Center

    3.85 miles

  • Silver Star Child Care

    4.14 miles

  • Legacy

    4.32 miles

  • Sweetie Pea Daycare Learning Center

    4.41 miles

  • The Goddard School

    6.36 miles

  • Pine Premier Child Care

    6.45 miles

  • Charley Brown's Child Care Center

    6.52 miles

  • Calvary Temple Our Little Angel "Julie" Pre-School Day Care Center

    7.25 miles

Frequently Asked Questions

How much does Delaware Gardens cost?

The space currently listed for sale at Delaware Gardens asks for $2,450,000.

What is the total square footage of Delaware Gardens?

Delaware Gardens totals 15,644 square feet.

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