Renovated Triplex with New
For Sale
$349,999
1137 N Brauer Avenue, Oklahoma City, OK 73106
MULTI_FAMILY - Other - Oklahoma City, OK
Property Size1,846 SF
Lot Size0.18 Acres
Price / SF$189.60
Days on Market49
Property Features for 1137 N Brauer Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3
Lot features
Interior Lot
Elementary school
Eugene Field ES
Middle school
Moon MS
High school
Douglass HS
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Directions
From N McKinley Ave turn west on to W Park Pl then North on N Brauer Ave property is on your left
Standard status
Active
APN
1137NBrauer73106
Size
1,846 SF
Lot size
0.18 Acres
Building Details
Year built
1925
Floors in Building
2
Building materials
Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
LRE Realty, LLC
(405) 285-5750
Listed By:
Tara Levinson · License #145328
(405) 414-8750
Added: Jun 24
Changed: Aug 3
Last Checked: Aug 11 at 9:06PM
MLS# 1236239
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 renovated triplex totals 1,846 square feet across three income-producing living spaces. The property has been remodeled down to the studs and includes new HVAC, new plumbing, and a new roof, along with frame construction and a composition roof. Built in 1925, the main house is a 2-bedroom, 1-bath residence with a fully updated kitchen featuring floor-to-ceiling cabinets, granite countertops, a subway tiled backsplash, and stainless steel appliances.
At the rear, a two-story accessory dwelling unit (ADU) provides two additional 1-bedroom, 1-bath units, each approximately 360 square feet. The ADU units include marble-tiled shower surrounds, private entrances, and dedicated parking. The layout supports separate living quarters for multiple occupants while preserving individual access.
The updates and unit separation make this property particularly aligned for tenants seeking a remodeled home with multiple, independently accessed rental spaces.
At the rear, a two-story accessory dwelling unit (ADU) provides two additional 1-bedroom, 1-bath units, each approximately 360 square feet. The ADU units include marble-tiled shower surrounds, private entrances, and dedicated parking. The layout supports separate living quarters for multiple occupants while preserving individual access.
The updates and unit separation make this property particularly aligned for tenants seeking a remodeled home with multiple, independently accessed rental spaces.
Key Highlights
- Total 1,846 SF renovated triplex on a 0.18‑acre lot
- Remodeled down to the studs with new HVAC, new plumbing, and a new roof
- Main house: 2‑bed, 1‑bath with updated kitchen, granite counters, and stainless steel appliances
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,140
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 - Fully remodeled three-unit triplex with new HVAC, plumbing, and roof plus dedicated parking and private entrances.
Where is this triplex located?
The property is located at 1137 N Brauer Avenue 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: Total 1,846 SF renovated triplex on a 0.18‑acre lot; Remodeled down to the studs with new HVAC, new plumbing, and a new roof; Main house: 2‑bed, 1‑bath with updated kitchen, granite counters, and stainless steel appliances
