Mike Marrara

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VERIFIED
Title: Vice President/Multifamily Specialist
Location: Tulsa, OK
Member since: Aug 16, 2012
First Commercial Real Estate Services Corporation

My Affiliations

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    GTAR
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    OAR
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    CCIM-OK

Add Your Own Have

901 North Brown, Sapulpa, OK, 74066
901 North Brown, Sapulpa, OK, 74066
Highlights150 unitsOn-site laundrySwimming poolNew financingDescriptionCherry Hill Apartments is a value add multifamily opportunity located in Sapulpa, OK. This property consists ...
Amount: Please Call Broker for Price
FOR SALE
1316 South Carson Ave West, Tulsa, OK, 74119
Highlights6 unitsBuilt in 1925Downtown locationHistoric architectureWell maintained with vintage characterLarge units with updatesDescriptionThe Deshon Apartments are located in the desired ...
Amount: Please Call Broker for Price
FOR SALE
6951 E. 15th Pl South, Tulsa, OK, 74112
6951 E. 15th Pl South, Tulsa, OK, 74112
HighlightsMix of 1 & 2 bedroomsFull brick exteriorSwimming poolOn site officeOn site laundryPitched roofs97% occupiedDescriptionLeisure Manor Apartments is a great ...
Amount: Please Call Broker for Price
FOR SALE
200 East 2nd St., Bartlesville, OK, 74003
200 East 2nd St., Bartlesville, OK, 74003
Highlights22 residential unitsCommercial/retail space100% occupiedTotally renovated and updated downtown buildingsLoft style apartmentsDescriptionThis portfolio consists of three properties located in Downtown ...
Amount: Please Call Broker for Price
FOR SALE
6000 NW 16th St, Oklahoma City, OK, 73127
Highlights10 unitsBuilt in 1985New roofsNew siding2 bedroom units2 car garagesResidents pay all utilitiesDescriptionRam’s Head Villas was constructed in 1985. They ...
Amount: Please Call Broker for Price
FOR SALE
407 New Orleans, Broken Arrow, OK, 74011
407 New Orleans, Broken Arrow, OK, 74011
HighlightsBusy Broken Arrow locationGeneral commercial zoningNear schools, retail, entertainment and restaurantsEasy access from Creek TurnpikeDescriptionThis property consists of +/-3.75 acres, ...
Amount: Please Call Broker for Price
FOR SALE
HWY 75 & HWY 20, Collinsville, OK, 74021
HWY 75 & HWY 20, Collinsville, OK, 74021
HighlightsU.S. Highway 75 visibilityState Highway 20 frontageAll utilities to site, including sanitary sewerCG, AG & RE zoningShared access drive with ...
Amount: Please Call Broker for Price
FOR SALE
NW Corner of 112th St N & N Garnett Rd, Owasso, OK, 74055
NW Corner of 112th St N & N Garnett Rd, Owasso, OK, 74055
HighlightsAll UtilitiesPlatted$2.60 PSFNear Bailey Medical CenterDescriptionOwasso development land for sale - suitable for a variety of commercial uses as well ...
Amount: Please Call Broker for Price
FOR SALE
23 West 141st Street, Glenpool, OK, 74033
23 West 141st Street, Glenpool, OK, 74033
HighlightsUtilities to siteBusy location in GlenpoolSuited for office or retailDescriptionLocated in Glenpool, on West 141st Street, just east of Highway ...
Amount: Please Call Broker for Price
FOR SALE
2617 & 2623 South 85th East Avenue, Tulsa, OK, 74129
2617 & 2623 South 85th East Avenue, Tulsa, OK, 74129
Highlights8 one bedroom unitsIndividually metered for electricityEasy access to I-44Nearby retail and hotelsOver $40,000 in recent improvements made to the ...
Amount: Please Call Broker for Price
FOR SALE
1720 Pebble Terrace, Edmond, OK, 73034
1720 Pebble Terrace, Edmond, OK, 73034
Pebble Terrace Townhomes 12 units, built in 1985. Currently 100% occupied. Large 1 and 2 bedroom units. 2 car garages. ...
Amount:$900,000 to $1,000,000
FOR SALE
1341 E 62 St S, Tulsa, OK, 74136
1341 E 62 St S, Tulsa, OK, 74136
Casa Linda Apartments 57 units, built in 1973. 1 bedroom and 2 bedroom units Laundry Facility Stove, Oven, Refrigerator, and ...
Amount:$1,000,000 to $2,000,000
FOR SALE
631 Earthside Circle , Claremore , OK, 74017
631 Earthside Circle , Claremore , OK, 74017
Beacon Hill Townhomes 32 units, built in 1979. Currently 100% occupied. 2, 3, & 4 bedroom units. Near Rogers State ...
Amount:$2,000,000 to $3,000,000
FOR SALE
1125-1127 S Quincy Ave, Tulsa, OK, 74120
1125-1127 S Quincy Ave, Tulsa, OK, 74120
The Oaks 8 Units | Built in 1955 Exclusive Offering | $199,000 This property is well located in the Pearl ...
Amount:$100,000 to $200,000
Cap Rate: 7.50%
FOR SALE

Sold/Leased Listings

Icon_img_20140715_155720517_hdr Sold!
Location: 1178-1182 N 66th Ave E, Tulsa, OK, 74115
Comments: First Commercial Real Estate Services Corporation is pleased to announce the sale of Cherokee Apartments in Tulsa, OK.
Date: Jun 01, 2015
Transaction Amount: $180,000
Icon_pm168 Sold!
Location: 6504 S. 81st Pl. E, Tulsa, OK
Comments: First Commercial Real Estate Services is pleased to announce the sale of Woodland Hills Duplexes in Tulsa, OK.
Date: May 20, 2015
Transaction Amount: $2,300,000
Icon_2014-05-16-15-39-43 Sold!
Location: 1729 E 66th St, Tulsa, OK, 74136
Comments:
Date: Mar 31, 2015
Transaction Amount: $0
Icon_pebble_terrace Sold!
Location: 1720 Pebble Terrace, Edmond, OK, 73034
Comments:
Date: Mar 31, 2015
Transaction Amount: $0
Icon_photo_7 Sold!
Location: 1341 E 62 St S, Tulsa, OK, 74136
Comments: First Commercial Real Estate Services Corporation is pleased to announce the sale of the Casa Linda Apartments located in Tulsa, Oklahoma. The property is located at 1341 East 62nd Street South. The buyer is a local real estate investor and the seller is an of out-of-state real estate investor. The sale price was $1,400,000 or $24,561 per unit. The property was constructed in 1973 and consists of 3 buildings with a total of 57 units. The unit mix consists of a studio unit and both one and two bedroom units. The property was significantly upgraded including updated interiors and exterior paint. The property had been stabilized and the occupancy was strong at the time of sale, with only one unit vacant. The seller was represented by the multifamily team of Mike Marrara and Melanie Richardson of First Commercial Real Estate Services Corporation. The buyer was represented by Maria Aleman of TuCasa Realty. Mike and Melanie noted that there was strong interest in the property. There is a high demand for stabilized, cash flowing assets in the Tulsa market. The marketing on Casa Linda resulted in multiple offers. Lea Ann Hanseth and Pam Bewley with Commercial Title and Escrow Services handled the closing.
Date: Dec 22, 2014
Transaction Amount: $1,400,000
Icon_bht_exterior8m Sold!
Location: 631 Earthside Circle , Claremore , OK, 74017
Comments: First Commercial Real Estate Services Corporation is pleased to announce the sale of the Beacon Hill Townhomes located in Claremore, Oklahoma. The property is located at 631-643 Earthside Circle and is near the Claremore Indian Hospital, the Claremore Expo Center and Rogers State University. The Buyer is a local real estate investor and the Seller is a partnership of out-of-state real estate investors. The sale price was $ 2,200,000 or $68,750 per unit. The property was constructed in 1979 and consists of 16 buildings with a total of 32 units and a storage building. The unit mix consists of two, three, and four bedroom units. All units have a garage and washer/dryer connections as well as fireplaces and patios. The property was significantly upgraded including recent siding, new roofs, and extensive landscaping. The interiors were updated with unique custom finishes. The Seller was represented by the multifamily team of Mike Marrara and Melanie Richardson of First Commercial Real Estate Services Corporation. The Buyer was represented by Tracy Streich of Realis Management, LLC. Mike and Melanie noted that there was strong interest in the area and in the property, with an offer generated in less than 30 days of marketing. There is a high demand for stabilized, cash flowing assets in good areas. Beacon Hill sold for 98% of its list price and at the current NOI that translates to a 7.3 CAP Rate. David Hagaman with Tulsa Abstract and Title Company handled the closing. RCB Bank provided financing to the Buyer for the acquisition.
Date: Aug 21, 2014
Transaction Amount: $2,200,000
Icon_glen_oaks_sign Sold!
Location: 2304 Glen Oaks Drive, Norman, OK, 73071
Comments: First Commercial Real Estate Services Corporation is pleased to announce the sale of the Glen Oaks Apartments located in Norman, Oklahoma. The property is located at 2304 Glen Oaks Drive. This property is located off of Highway 9 giving the residents easy access to I-35. It is near the new Ronald Reagan Elementary School and is a mile and a half from the University of Oklahoma campus. The Seller is an out of state real estate investor and the Buyer is a local non-profit corporation.
Date: Aug 13, 2014
Transaction Amount: $600,000
Icon_village_with_sign Sold!
Location: 867 Fendlwy Drive, Conway, AR, 72032
Comments: First Commercial Real Estate Services Corporation is pleased to announce the sale of Village Apartments in Conway, Arkansas. This 102-unit property was purchased by CM Properties of Conway LLC. The seller was Village Partners LLC, whose managing member has holdings in Oklahoma and surrounding States. The Seller's property management company is based out of Tulsa, OK.
Date: Jul 29, 2014
Transaction Amount: $4,900,000
Cap Rate: 8.25%
Icon_ro_sign Sold!
Location: 3902 College View Drive, Joplin, OK, 64801
Comments: Another successful multifamily closing! First Commercial Real Estate Services Corporation is pleased to announce the sale of Royal Orleans in Joplin, MO. This transaction produced a per unit price of $41,338.
Date: Jul 15, 2014
Transaction Amount: $5,250,000
Cap Rate: 8.50%
Icon_the_oaks_sign Sold!
Location: 1125-1127 S Quincy Ave, Tulsa, OK, 74120
Comments:
Date: May 29, 2014
Transaction Amount: $180,000
Cap Rate: 7.50%

Contact

Location:
Tulsa, OK
Websites:
Phone Numbers:
Cell:
(918) 230-3875
Office:
(918) 495-1551
Email:
mikem@first-commercial.com

My Markets

Countries:
United States
Metro Areas:

Concentration Areas

Concentrations:
Acquisitions, Development, Investment Sales, REO/Short Sales
Property Types:
MultiFamily Apartments, Tax Credit Housing, Assisted Living, Student Housing , Senior Living (over 55 community), Commercial Land Development, Residential Land Development
Years of Experience:
3

Brief Profile

No background information available.

Full Profile

We are commercial brokers with a singular focus on multifamily properties. For almost 20 years, First Commercial Real Estate Services has successfully represented both buyers and sellers. We focus on all sizes of multifamily properties from duplexes up to large, multiple property portfolios. We are experienced in conventional sales, exchanges, assumptions, and 1031s. We are knowledgable about our markets and can advise buyers during due diligence and assist in the repositioning of properties. We also are familiar with adaptive reuse and redevelopment of properties. I work as part of a team to deliver results for our clients.

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