Renovated Triplex with Two-Story
For Sale
$349,999
1137 N Brauer Ave, Oklahoma City, OK 73106
Three separate living spaces combine updated interiors with private entrances and dedicated parking.
Property Size1,846 SF
Price / SF$189.60
Days on Market35
Property Features for 1137 N Brauer Ave
General Information
Standard status
Active
Size
1,846 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
3
Amenities
stainless steel appliances
granite countertops
subway tiled backsplash
marble-tiled shower surrounds
private entrances
dedicated parking
Building Details
Year Built
1925
Listing Agency:
LRE Realty, LLC
(405) 414-8750
Listed By:
Tara Levinson · License #145328
Source:
Oklahomerealestate
Added: Jul 29
Changed: Aug 29
Last Checked: Aug 30 at 8:40PM
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 LRE Realty, LLC
Investment Insights
Based on property information with market context.
This 1,846-square-foot triplex includes a 1,126-square-foot main residence with 2 bedrooms and 1 bathroom, plus a two-story ADU containing two additional 1-bedroom, 1-bathroom units. Each ADU unit measures approximately 360 square feet and has its own entrance and dedicated parking. The property was remodeled to the studs, with updated systems including HVAC, plumbing, and a roof replacement. Interior improvements include a remodeled main kitchen with floor-to-ceiling cabinetry, granite countertops, subway tile backsplash, and stainless steel appliances. The ADU bathrooms feature marble-tiled shower surrounds. Built in 1925, the property offers three distinct living spaces for residential income use or multi-generational occupancy.
Key Highlights
- 1,846 square feet across three living spaces
- 1,126‑square‑foot main house with 2 bedrooms and 1 bathroom
- Two‑story ADU with two 1‑bedroom, 1‑bathroom units
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 separate living spaces combine updated interiors with private entrances and dedicated parking.
Where is this triplex located?
The property is located at 1137 N Brauer Ave 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; 1,126‑square‑foot main house with 2 bedrooms and 1 bathroom; Two‑story ADU with two 1‑bedroom, 1‑bathroom units
