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    Twelve-Unit Apartment Building Title is generated by Realmo AI

    101 North AVE, Poteau, OK 74953

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    For Sale
    $700,000

    MULTI_FAMILY - Poteau, OK

    Type:Apartment
    Property size:
    10,560 SF
    Lot size:
    0.55 Acres
    Price / SF:
    $66/SF
    Added:
    Jun 3, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 6:06 am

    Property Features for 101 North AVE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Standard status
    Active
    APN
    Q240-00-004-000-0-005-00
    Size
    10,560 SF
    Lot size
    0.55 Acres

    Taxes and HOA fees

    Tax Description
    POTEAU LAKEVIEW ADD BLK 4 LOTS 10 THRU 13 B1491 P836 B1572 P98 B1955 P705& P706 B2022 P253 RIVIERA APTS.
    Tax Annual Amount
    2231

    Utilities

    Heating system
    Baseboard
    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1960
    Floors in Building
    2
    Number of units
    12
    Flooring type
    Laminate, Vinyl
    Roof type
    Shingle

    We can help!

    Listing Contact
    Joshua Harmon
    Joshua Harmon

    Listing agent Joshua Harmon License #PB00080746

    Listing office Harmon Real Estate Company 911 S May Avenue, Fort Smith, OK

    Listing date Jun 3, 2026

    MLS# 1089515 Listing URL

    Copyright © 2026 Western River Valley Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 12‑unit multifamily at 101 North Avenue, Poteau, OK, with all 12 units leased
    • Unit mix includes 1‑bedroom and 2‑bedroom floor plans
    • New roof and new siding completed in 2025
    • Year built: 1960
    • Interior finishes include laminate and vinyl flooring; baseboard heat and window A/C units
    • Offered standalone or as part of the five‑property Poteau Apartments Portfolio

    Overview

    Riviera is a fully occupied 12-unit apartment building offering a mix of one- and two-bedroom floor plans. Current ownership completed a new roof and new siding in 2025, addressing visible components of the building envelope. The property is leased to capacity, with all twelve units currently rented.

    The building is located at 101 North Avenue in Poteau, Oklahoma, in LeFlore County. Poteau is the county seat and is about 35 minutes from Fort Smith, Arkansas via US 59/271. The surrounding renter base is described as anchored by Eastern Oklahoma Medical Center, the Choctaw Nation’s regional health facilities, Walmart, OK Foods, and Carl Albert State College.

    For buyers seeking a smaller-asset entry point, the current leasing profile shows stepped rent performance, including 2026 leases signed at the top of the property’s rent range. With stable occupancy and recent exterior improvements already in place, the property presents a straightforward operational model supported by the current rent roll.
    Property Profile Location Intelligence

    Current Use by Public Records

    Riviera Apartments Apartment Building

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Poteau
    County
    Le Flore
    State
    Oklahoma
    Longitude
    -94.619781
    Latitude
    35.065322

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    FAQs

    What type of property is this?
    Apartment building - Fully leased 12-unit apartment property with updated roof and siding installed in 2025.
    Where is this apartment building located?
    The property is located at 101 North AVE Poteau, OK.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: 12‑unit multifamily at 101 North Avenue, Poteau, OK, with all 12 units leased; Unit mix includes 1‑bedroom and 2‑bedroom floor plans; New roof and new siding completed in 2025
    (479) 719-0344
    We can help!
    Listing Contact
    Joshua Harmon
    Joshua Harmon
    Real Estate License ID: PB00080746
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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