Fully Remodeled 4-Plex with Central
2321 NW 12th Street Oklahoma City, OK 73107
2321 NW 12th Street, Oklahoma City, OK, 73107
$468,000
For Sale
$468,000
MULTI_FAMILY - Other - Oklahoma City, OK
Property Size3,496 SF
Lot Size0.17 Acres
Price / SF$133.87
Days on Market1285
Property Features for 2321 NW 12th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 3, Bathroom 4, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 6, Bathroom 3, Bedroom 5, Bedroom 4, Bathroom 2, Bedroom 7, Bedroom 8
- Parking
- 3676
- Appliances
- Refrigerator, Warming Drawer
- Standard status
- Active
- APN
- 2321NW12thA73107
- Size
- 3,496 SF
- Lot size
- 0.17 Acres
Utilities
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric
Building Details
- Year built
- 1932
- Floors in Building
- 2
- Building materials
- Brick
- Architectural style
- Other
Listing Agency
LIME Realty
(405) 254-6310
5909 NW Expressway, Oklahoma City, OK
Listed by
Debi Norris · License #129103
(405) 922-0143
Added: Jan 10, 2023 Checked: Jul 18 at 4:06 am
MLS# 1044555
Listing URL
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 fully updated fourplex features four, two-bedroom, one-bath units. The building has been remodeled from the studs out, including a sewer line replacement to the mainline. Interiors include new windows in every room and fresh paint in updated gray and white tones. Each unit is described as spacious and bright, with central heat and air provided. Washer and dryer hookups are located in the basement for tenant convenience, and there is an emergency fire hydrant system on site. The building is accessible, including one downstairs accessible unit, and each unit has its own water heater.
The property is located close to downtown and within reach of shopping and entertainment areas including the Plaza District and Bricktown. Please do not disturb the tenants; the complex is 100% occupied.
With individual utility billing for residents, electric is paid by tenants, while water, trash, and sewer are split and shared equally among the units. The owner pays electricity for common areas. For an investor or operator looking for a turn-key, renovated small multifamily building with tenant-paid utilities and an accessibility component, this property offers a straightforward operating setup alongside significant building updates.
The property is located close to downtown and within reach of shopping and entertainment areas including the Plaza District and Bricktown. Please do not disturb the tenants; the complex is 100% occupied.
With individual utility billing for residents, electric is paid by tenants, while water, trash, and sewer are split and shared equally among the units. The owner pays electricity for common areas. For an investor or operator looking for a turn-key, renovated small multifamily building with tenant-paid utilities and an accessibility component, this property offers a straightforward operating setup alongside significant building updates.
Key Highlights
- Totally updated 4‑plex built in 1932 with brick construction
- 4 units: each is 2 bed, 1 bath; all tenants report as 100% occupied
- Remodeled from the studs out with new windows in every room and updated paint colors
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.2k | $13.80 |
| − Vacancy | −$2.7k | −$0.76 |
| EGI | $45.6k | $13.04 |
| − OpEx | −$13.7k | −$3.91 |
| NOI | $31.9k | $9.13 |
3,496 SF · lease $13.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$455.9K
$398.9K – $531.9K
NOI $31,914 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$421.9K
$369.1K – $492.2K
NOI $29,530 @ 7.0% cap · market cap 6.31%
Theoretical Best
Specialty Retail
$1.20M
$1.05M – $1.39M
NOI $83,694 @ 7.0% cap · market cap 17.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Quadplex - A completely remodeled fourplex with spacious two-bedroom layouts, central heat and air, and in-building laundry for residents.
Where is this quadplex located?
The property is located at 2321 NW 12th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $468,000.
What are key features of this property?
This property features: Totally updated 4‑plex built in 1932 with brick construction; 4 units: each is 2 bed, 1 bath; all tenants report as 100% occupied; Remodeled from the studs out with new windows in every room and updated paint colors
