Building Details

Building Size 15,408 SF

Year Built 2021

Tenancy Multi

Listing Agency: Whittington Realty

Listed By: Deidre Beach · License #131864 Show Phone

Source: Stetsonbentley

Added: Jun 9 Changed: Oct 3 Last Checked: Oct 13 at 12:43AM

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Investment Insights

Based on property information with market context.

This for-sale multifamily property is a gated 50+ community featuring 7 duplex buildings and 14 residential rental units. Each unit is described as having approximately 2 bedrooms and 2 bathrooms, including a dedicated laundry room and laminate wood flooring. The residences are also described as having granite countertops and stainless-steel appliances.

In addition to the housing units, the property includes a 1,200-square-foot community office building located just inside the gated entrance. The office is described as having a private office, a spacious open work area, a restroom, and climate-controlled storage. Adjacent to the office is a 36' x 50' workshop with 14-foot ceilings and a restroom.

The community is situated on approximately 5 acres and is described as well-maintained, with mature trees and attractive grounds. The remarks indicate convenient access to I-35 and the Oklahoma City metro/Jones area.

Key Highlights

• 14‑unit gated 50+ multifamily community on approx. 5 acres with mature trees and attractive grounds
• All units are 2 bed / 2 bath duplex residences with dedicated laundry rooms and approx. 1,080 SF living space per unit
• Unit finishes include laminate wood flooring, granite countertops, and stainless‑steel appliances

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$115,295

Cap Rate

4.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,305,900 $2.3M

Cap Rate 7%

$1,647,071 $1.6M

Cap Rate 9%

$1,281,056 $1.3M

Market Conditions

NOI Build-Up for 18,120 SF

Gross rent

$232.7K $12.84/SF

− Vacancy

−$23.0K −$1.27/SF

EGI

$209.6K $11.57/SF

− OpEx

−$94.3K −$5.21/SF

NOI

$115.3K $6.36/SF

Area

Oklahoma County, OK

Vacancy

9.90%

Lease Rate

$12.84 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,305,900

Cap Rate 7%

$1,647,071

Cap Rate 9%

$1,281,056

Alternative Uses

Best Use

Apartment 5plus

$1.65M

$1.44M – $1.92M (±1% cap)

NOI $115,295 @ 7.0% cap · market cap 4.12%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.77M

$3.30M – $4.40M (±1% cap)

NOI $264,184 @ 7.0% cap · market cap 9.44%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Auto Repair Shop Restaurant Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

14 ft

Clear height

1

Office units

14

Residential units

Multi-tenant

Tenancy

Turnkey business

Opportunity

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

3

Businesses Nearby

Explore this area Business Placement

Demographics for 73049, OK

6,717

Population

2,698

Households

2.5

Avg Household Size

42

Median Age

36%

College-Educated

90%

High-School Grad

64.2 sq mi

ZIP Area

105

Density / Sq Mi

$80,813

Median Household Income

$50,625

Median Earnings

$854

Median Rent

$236,100

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Apartment building - Gated 14-unit multifamily community with 2 bed/2 bath duplex residences plus a community office and workshop.

Where is this apartment building located?

The property is located at 11522 Cottage Lane Jones, OK.

What is the asking price?

The asking price for this property is $2,800,000.

What are key features of this property?

This property features: 14‑unit gated 50+ multifamily community on approx. 5 acres with mature trees and attractive grounds; All units are 2 bed / 2 bath duplex residences with dedicated laundry rooms and approx. 1,080 SF living space per unit; Unit finishes include laminate wood flooring, granite countertops, and stainless‑steel appliances