Renovated Triplex with
For Sale
$349,999
1137 N Brauer Avenue, Oklahoma City, OK 73106
Residential Income, Oklahoma City, OK
Property Size1,846 SF
Lot Size0.18 Acres
Price / SF$189.60
Days on Market73
Property Features for 1137 N Brauer Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 1
Lot features
Interior Lot
Elementary school
Eugene Field ES
Middle school
Moon MS
High school
Douglass HS
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Directions
From N McKinley Ave turn west on to W Park Pl then North on N Brauer Ave property is on your left
Standard status
Active
APN
1137NBrauer73106
Size
1,846 SF
Lot size
0.18 Acres
Building Details
Year built
1925
Floors in Building
2
Building materials
Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
LRE Realty, LLC
(405) 285-5750
Listed By:
Tara Levinson · License #145328
(405) 414-8750
Added: Jun 24
Changed: Aug 21
Last Checked: Sep 4 at 4:06PM
MLS# 1236239
Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex property contains 1,846 square feet across a 1,126-square-foot main residence and two additional living spaces within a new two-story ADU. The main home provides two bedrooms and one bathroom, along with a remodeled kitchen featuring floor-to-ceiling cabinetry, granite counters, subway tile, and stainless steel appliances. Each ADU unit measures approximately 360 square feet and includes one bedroom, one bathroom, a private entrance, and dedicated parking. Marble-tiled shower surrounds are included in the updated ADU interiors.
The property at 1137 N Brauer Avenue occupies a 0.18-acre lot in Oklahoma City, OK 73106. Originally built in 1925, the improvements have been remodeled to the studs and include new HVAC, plumbing, and a composition roof. The frame construction and three-bathroom layout support the property's triplex configuration.
The property at 1137 N Brauer Avenue occupies a 0.18-acre lot in Oklahoma City, OK 73106. Originally built in 1925, the improvements have been remodeled to the studs and include new HVAC, plumbing, and a composition roof. The frame construction and three-bathroom layout support the property's triplex configuration.
Key Highlights
- 1,846 square feet across three living spaces
- Main residence includes 2 bedrooms, 1 bathroom, and 1,126 square feet
- Two ADU units are approximately 360 square feet each
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,852
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$337,040
$337.0K
Cap Rate 7%
$240,743
$240.7K
Cap Rate 9%
$187,244
$187.2K
Market Conditions
NOI Build-Up for 1,846 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$25.5K $13.80/SF
− Vacancy
−$1.4K −$0.76/SF
EGI
$24.1K $13.04/SF
− OpEx
−$7.2K −$3.91/SF
NOI
$16.9K $9.13/SF
Area
Oklahoma City, OK
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$337,040
Cap Rate 7%
$240,743
Cap Rate 9%
$187,244
Alternative Uses
Best Use
Multifamily LT 5
$240.7K
$210.7K – $280.9K
NOI $16,852 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$222.8K
$194.9K – $259.9K
NOI $15,593 @ 7.0% cap · market cap 4.46%
Theoretical Best
Specialty Retail
$631.3K
$552.4K – $736.6K
NOI $44,193 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,471
Businesses Nearby
Explore this area
Business Placement
Demographics for 73106, OK
12,956
Population
6,069
Households
2.1
Avg Household Size
32
Median Age
40%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
4,319
Density / Sq Mi
$51,934
Median Household Income
$32,145
Median Earnings
$1,050
Median Rent
$262,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three separately accessed living spaces combine updated interiors with dedicated parking and flexible occupancy options.
Where is this triplex located?
The property is located at 1137 N Brauer Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $349,999.
What are key features of this property?
This property features: 1,846 square feet across three living spaces; Main residence includes 2 bedrooms, 1 bathroom, and 1,126 square feet; Two ADU units are approximately 360 square feet each
