Building Details

Year built 2021

Building materials Brick

Listing Agency: Whittington Realty r***@whittingtonhome.com Show Phone

Listed By: Deidre Beach · License #131864 Show Phone

Added: Jun 9 Changed: Sep 16 Last Checked: Oct 16 at 1:06PM

Report an Issue

MLS# 1233573

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.

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 14-unit apartment property comprises 7 duplex buildings on approximately 5 acres. Each residence provides approximately 1,080 square feet with 2 bedrooms, 2 bathrooms, a dedicated laundry room, laminate wood flooring, granite countertops, and stainless-steel appliances. The improvements total 15,408 square feet and were built in 2021, with brick construction, natural gas heating, and central electric cooling.

A 1,200-square-foot community office near the gated entry includes a private office, open work area, restroom, and climate-controlled storage. The property also has a 36' x 50' workshop with 14-foot ceilings and a restroom. Mature trees and the gated layout characterize the grounds, while access to I-35 and Oklahoma City connects the property with the broader metro area.

Key Highlights

• 14 rental units arranged in 7 duplex buildings
• Approximately 5 acres with mature trees and gated entry
• Each unit offers approximately 1,080 SF, 2 bedrooms, 2 bathrooms, and a laundry room

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$98,039

Cap Rate

3.50%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,960,780 $2.0M

Cap Rate 7%

$1,400,557 $1.4M

Cap Rate 9%

$1,089,322 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 15,408 SF

Gross rent

$197.8K $12.84/SF

− Vacancy

−$19.6K −$1.27/SF

EGI

$178.3K $11.57/SF

− OpEx

−$80.2K −$5.21/SF

NOI

$98.0K $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%

$1,960,780

Cap Rate 7%

$1,400,557

Cap Rate 9%

$1,089,322

Alternative Uses

Best Use

Apartment 5plus

$1.40M

$1.23M – $1.63M (±1% cap)

NOI $98,039 @ 7.0% cap · market cap 3.50%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.21M

$2.81M – $3.74M (±1% cap)

NOI $224,644 @ 7.0% cap · market cap 8.02%

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

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

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

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

13

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

Frequently Asked Questions

What type of property is this?

Apartment building - Duplex-style rental community with private laundry rooms, updated finishes, and supporting office and workshop improvements.

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 rental units arranged in 7 duplex buildings; Approximately 5 acres with mature trees and gated entry; Each unit offers approximately 1,080 SF, 2 bedrooms, 2 bathrooms, and a laundry room