Four-Unit Property Across Two
For Sale
$304,900
1112 N Ross Ave, Oklahoma City, OK 73107
Four vacant units provide immediate control over tenant selection and lease-up.
Property Size1,834 SF
Price / SF$166.25
Days on Market20
Property Features for 1112 N Ross Ave
General Information
Standard status
Active
Size
1,834 SF
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
4
Building Details
Year Built
1950
Buildings
2
Listing Agency:
CityGates Real Estate LLC
(405) 412-8369
Listed By:
Brooke Bale
Source:
Oklahomerealestate
Added: Aug 13
Changed: Aug 28
Last Checked: Aug 31 at 7:01PM
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 CityGates Real Estate LLC
Investment Insights
Based on property information with market context.
This four-unit residential income property comprises two separate buildings on one parcel. The layout includes two duplex-style structures, with one building containing Unit F and the attached 1110 N Ross cottage. The second building includes a ground-level Unit G and an upper-level Unit U with a private deck. All four units convey together under a single deed and are not available for separate sale.
Each unit has its own electric meter, while the owner pays water and trash. All units are currently vacant, allowing the next owner to direct tenant selection and leasing from the outset. Rental history is documented through mid-2025, and three units were below current market levels at that time. The property was built in 1950 and is located in Oklahoma City's Miller neighborhood, near the Plaza District, Paseo, OKC Fairgrounds, and OSU-OKC.
Each unit has its own electric meter, while the owner pays water and trash. All units are currently vacant, allowing the next owner to direct tenant selection and leasing from the outset. Rental history is documented through mid-2025, and three units were below current market levels at that time. The property was built in 1950 and is located in Oklahoma City's Miller neighborhood, near the Plaza District, Paseo, OKC Fairgrounds, and OSU-OKC.
Key Highlights
- Four residential units across two buildings on one parcel
- All four units convey together on one deed and cannot be sold separately
- Currently vacant, allowing buyer‑directed tenant selection and lease‑up
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
$16,742
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
5.49%
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%
$334,840
$334.8K
Cap Rate 7%
$239,171
$239.2K
Cap Rate 9%
$186,022
$186.0K
Market Conditions
NOI Build-Up for 1,834 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
$25.3K $13.80/SF
− Vacancy
−$1.4K −$0.76/SF
EGI
$23.9K $13.04/SF
− OpEx
−$7.2K −$3.91/SF
NOI
$16.7K $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%
$334,840
Cap Rate 7%
$239,171
Cap Rate 9%
$186,022
Alternative Uses
Best Use
Multifamily LT 5
$239.2K
$209.3K – $279.0K
NOI $16,742 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$221.3K
$193.6K – $258.2K
NOI $15,491 @ 7.0% cap · market cap 5.08%
Theoretical Best
Specialty Retail
$627.2K
$548.8K – $731.8K
NOI $43,906 @ 7.0% cap · market cap 14.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Explore this area
Business Placement
Demographics for 73107, OK
26,318
Population
12,621
Households
2.1
Avg Household Size
34
Median Age
31%
College-Educated
80%
High-School Grad
7.6 sq mi
ZIP Area
3,463
Density / Sq Mi
$58,428
Median Household Income
$38,753
Median Earnings
$1,014
Median Rent
$143,000
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?
Quadplex - Four vacant units provide immediate control over tenant selection and lease-up.
Where is this quadplex located?
The property is located at 1112 N Ross Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $304,900.
What are key features of this property?
This property features: Four residential units across two buildings on one parcel; All four units convey together on one deed and cannot be sold separately; Currently vacant, allowing buyer‑directed tenant selection and lease‑up
