Four-Residence Multifamily
For Sale
$340,000
12501 SE 89th St, Oklahoma City, OK 73150
The property combines manufactured and single-family housing on a substantial acreage tract.
Property Size3,658 SF
Lot Size6.00 Acres
Price / SF$92.95
Days on Market32
Property Features for 12501 SE 89th St
General Information
Standard status
Active
Size
3,658 SF
Lot size
6.00 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1947
Listing Agency:
Copper Creek Real Estate
(405) 628-4059
Listed By:
Gabby Bohannan
Source:
Sarahflemingestates
Added: Jul 29
Changed: Aug 28
Last Checked: Aug 29 at 11:56AM
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 Copper Creek Real Estate
Investment Insights
Based on property information with market context.
This multifamily property encompasses approximately 6 acres and includes four separate residences. The residential mix consists of two manufactured homes and two single-family homes, creating a varied housing configuration within one property. The improvements date to 1947.
The property is located at 12501 SE 89th St in Oklahoma City, Oklahoma, with the surrounding area described as convenient to nearby amenities. Its combination of multiple residences, distinct housing types, and acreage provides a clearly defined multifamily asset for review.
The property is located at 12501 SE 89th St in Oklahoma City, Oklahoma, with the surrounding area described as convenient to nearby amenities. Its combination of multiple residences, distinct housing types, and acreage provides a clearly defined multifamily asset for review.
Key Highlights
- Approximately 6 acres
- Four residences on one property
- Two manufactured homes included
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
$30,898
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
9.09%
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%
$617,960
$618.0K
Cap Rate 7%
$441,400
$441.4K
Cap Rate 9%
$343,311
$343.3K
Market Conditions
NOI Build-Up for 3,658 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
$59.3K $16.20/SF
− Vacancy
−$3.1K −$0.84/SF
EGI
$56.2K $15.36/SF
− OpEx
−$25.3K −$6.91/SF
NOI
$30.9K $8.45/SF
Area
Oklahoma City, OK
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$617,960
Cap Rate 7%
$441,400
Cap Rate 9%
$343,311
Alternative Uses
Best Use
Apartment 5plus
$441.4K
$386.2K – $515.0K
NOI $30,898 @ 7.0% cap · market cap 9.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.25M
$1.09M – $1.46M
NOI $87,573 @ 7.0% cap · market cap 25.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 73150, OK
5,166
Population
2,168
Households
2.4
Avg Household Size
46
Median Age
35%
College-Educated
95%
High-School Grad
18.7 sq mi
ZIP Area
276
Density / Sq Mi
$89,562
Median Household Income
$57,917
Median Earnings
$859
Median Rent
$287,500
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?
Multifamily property - The property combines manufactured and single-family housing on a substantial acreage tract.
Where is this multifamily property located?
The property is located at 12501 SE 89th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Approximately 6 acres; Four residences on one property; Two manufactured homes included
