Updated Three-Unit Multifamily
For Sale
$569,000
1108 W Park Pl, Oklahoma City, OK 73106
Occupied furnished rental property with a renovated duplex, detached rear unit, separate metering, and on-site parking.
Property Size2,635 SF
Price / SF$215.94
Days on Market82
Property Features for 1108 W Park Pl
General Information
Standard status
Active
Size
2,635 SF
Property subtype
Multi-Family
Building Details
Year Built
1915
Listing Agency:
Bailee & Co. Real Estate
Listed By:
Kiera Underwood
(479) 883-2594
Source:
Sarahflemingestates
Added: Jul 27
Changed: Oct 1
Last Checked: Oct 16 at 1:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bailee & Co. Real Estate
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Investment Insights
Based on property information with market context.
This Oklahoma City multifamily property combines a front duplex with a detached rear residence constructed new from the ground up. The three-unit configuration includes two- and three-bedroom layouts in the duplex and a one-bedroom rear unit. Interior improvements include refreshed kitchens with stone countertops, stainless steel appliances, gas ranges, tiled showers, modern vanities, updated flooring, paint, lighting, and hardware. Each residence has in-unit laundry with a washer and dryer, and the units are separately metered.
All three units are occupied and currently furnished for year-round mid-term rentals. Furniture for the residences is included in the sale. Exterior improvements include a concrete driveway, fencing, and a large parking area accommodating multiple vehicles. The property is located between SOSA and the Plaza District, with the address at 1108 W Park Pl in Oklahoma City.
All three units are occupied and currently furnished for year-round mid-term rentals. Furniture for the residences is included in the sale. Exterior improvements include a concrete driveway, fencing, and a large parking area accommodating multiple vehicles. The property is located between SOSA and the Plaza District, with the address at 1108 W Park Pl in Oklahoma City.
Key Highlights
- Three‑unit configuration: 3 bed 2 bath, 2 bed 1 bath, and 1 bed 1 bath
- Detached rear unit built new from the ground up
- All units occupied and operating as furnished mid term rentals rented year round
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,257
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,140
$445.1K
Cap Rate 7%
$317,957
$318.0K
Cap Rate 9%
$247,300
$247.3K
Market Conditions
NOI Build-Up for 2,635 SF
Gross rent
$42.7K $16.20/SF
− Vacancy
−$2.2K −$0.84/SF
EGI
$40.5K $15.36/SF
− OpEx
−$18.2K −$6.91/SF
NOI
$22.3K $8.45/SF
Area
Oklahoma City, OK
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,140
Cap Rate 7%
$317,957
Cap Rate 9%
$247,300
Alternative Uses
Best Use
Apartment 5plus
$318.0K
$278.2K – $371.0K
NOI $22,257 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$901.2K
$788.5K – $1.05M
NOI $63,082 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,532
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Occupied furnished rental property with a renovated duplex, detached rear unit, separate metering, and on-site parking.
Where is this multifamily property located?
The property is located at 1108 W Park Pl Oklahoma City, OK.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: Three‑unit configuration: 3 bed 2 bath, 2 bed 1 bath, and 1 bed 1 bath; Detached rear unit built new from the ground up; All units occupied and operating as furnished mid term rentals rented year round
