Brick Quadplex with Private
For Sale
$649,000
Pending
1138 NW 34th Street, Oklahoma City, OK 73118
MULTI_FAMILY - Other - Oklahoma City, OK
Property Size4,154 SF
Days on Market124
Property Features for 1138 NW 34th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 2, Bedroom 1, Bathroom 6, Bathroom 4, Bathroom 1, Bedroom 3, Bathroom 5, Bedroom 6, Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 4
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
Standard status
Pending
APN
1138NW34th1-473118
Size
4,154 SF
Amenities
covered balconies
shared outdoor space
Building Details
Year built
1918
Floors in Building
2
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Sage Sotheby's Realty
(405) 748-0405
Listed By:
Sierra Snowden
(405) 570-6340
Added: Apr 8
Changed: Aug 3
Last Checked: Aug 9 at 3:06AM
MLS# 1222711
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.
Introducing The Dix Condos, a well-maintained brick four-plex offering four individual units with their own private entrances. The property is constructed with brick & frame and features a composition roof. Inside, units include hardwood flooring and neutral finishes, with practical layouts connecting living areas to bedrooms. Kitchens and baths are designed for efficient use of space, with room for future updates or customization.
The exterior showcases a welcoming front facade, with the rear providing off-street parking and shared outdoor space. Upper units have access to covered balconies, adding additional usable living area. The property is located at 1138 NW 34th Street in Oklahoma City, OK 73118, with convenient access to local amenities, shopping, dining, and major thoroughfares.
The Dix Condos totals 4,154 square feet and is configured as a four-unit residential income property.
The exterior showcases a welcoming front facade, with the rear providing off-street parking and shared outdoor space. Upper units have access to covered balconies, adding additional usable living area. The property is located at 1138 NW 34th Street in Oklahoma City, OK 73118, with convenient access to local amenities, shopping, dining, and major thoroughfares.
The Dix Condos totals 4,154 square feet and is configured as a four-unit residential income property.
Key Highlights
- 4,154 SF brick & frame quadplex with a composition roof
- Four individual units, each with its own private entrance
- Built in 1918
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
$37,921
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
5.84%
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%
$758,420
$758.4K
Cap Rate 7%
$541,729
$541.7K
Cap Rate 9%
$421,344
$421.3K
Market Conditions
NOI Build-Up for 4,154 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
$57.3K $13.80/SF
− Vacancy
−$3.2K −$0.76/SF
EGI
$54.2K $13.04/SF
− OpEx
−$16.3K −$3.91/SF
NOI
$37.9K $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%
$758,420
Cap Rate 7%
$541,729
Cap Rate 9%
$421,344
Alternative Uses
Best Use
Multifamily LT 5
$541.7K
$474.0K – $632.0K
NOI $37,921 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$501.3K
$438.6K – $584.8K
NOI $35,088 @ 7.0% cap · market cap 5.41%
Theoretical Best
Specialty Retail
$1.42M
$1.24M – $1.66M
NOI $99,447 @ 7.0% cap · market cap 15.32%
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
825
Businesses Nearby
Explore this area
Business Placement
Demographics for 73118, OK
13,521
Population
7,856
Households
1.7
Avg Household Size
37
Median Age
49%
College-Educated
92%
High-School Grad
4.8 sq mi
ZIP Area
2,817
Density / Sq Mi
$69,321
Median Household Income
$45,494
Median Earnings
$1,064
Median Rent
$252,500
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?
Quadplex - Well-maintained brick quadplex built in 1918 with four units, each featuring its own private entrance.
Where is this quadplex located?
The property is located at 1138 NW 34th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 4,154 SF brick & frame quadplex with a composition roof; Four individual units, each with its own private entrance; Built in 1918
