Lakeside Apartments Sell for $3.4 Million

Pelicans Wharf Partners LLC of Tulsa dba Capital Assets has paid $3.4 million for the Lakeside Place, a 15-building, 153,500-SF apartment complex at 2186 S. 99th E. Ave.
Lenox VIII Properties LLC of West Springfield, Mass. is listed on courthouse documents as the seller of the property.
Pelicans Wharf Partners paid $16,246 per unit for the 208-unit complex, which is located on a 22-acre, manmade lake near Interstate 44, US highway 69, and 21st Street in east Tulsa.
Lakeside Place, originally called Crystal Bay, was built in 1975 and appraised for $3.3 million in 2006.
Capital Assets paid $10.2 million ($22,308 per unit) for the 464-unit Shoreline Apartments, the complex’s lakeside neighbor, in November. Both complexes are currently undergoing renovations, including interior, exterior, landscaping, and asphalt work.

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