Four-Residence Multifamily
For Sale
$340,000
12501 SE 89th Street, Oklahoma City, OK 73150
Residential Income, Oklahoma City, OK
Property Size3,658 SF
Lot Size6.00 Acres
Price / SF$92.95
Days on Market211
Property Features for 12501 SE 89th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 7, Bathroom 5, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 9, Bedroom 8, Bathroom 6, Bedroom 3, Bedroom 4, Bathroom 4, Bedroom 5, Bedroom 6, Bedroom 1, Bedroom 2
Lot features
Interior Lot, Wooded
Elementary school
Schwartz ES
Middle school
Carl Albert MS
High school
Carl Albert HS
Elementary school district
Midwest City/Del City
Middle school district
Midwest City/Del City
High school district
Midwest City/Del City
Directions
From I-40, take Anderson Rd south, turn east on SE 89th St, property is on the north side of the road.
Standard status
Active
APN
12501SE89th73150
Size
3,658 SF
Lot size
6.00 Acres
Building Details
Year built
1947
Building materials
Frame, Vinyl Siding
Roof type
Composition
Architectural style
Other
Listing Agency:
Copper Creek Real Estate
(405) 888-9902
Listed By:
Gabby Bohannan
(405) 628-4059
Added: Feb 9
Changed: Sep 7
Last Checked: Sep 8 at 2:06AM
MLS# 1213365
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 multifamily property contains four residences totaling 3,658 square feet, including two manufactured homes and two single-family homes. The improvements date to 1947 and feature frame construction, vinyl siding, and composition roofs. The residential mix creates a distinct configuration across the site, with multiple dwelling structures rather than a single building.
Located at 12501 SE 89th Street in Oklahoma City, the property encompasses approximately 6 acres in Oklahoma County. The address is within ZIP Code 73150 and provides a larger land setting for the existing residential improvements.
Located at 12501 SE 89th Street in Oklahoma City, the property encompasses approximately 6 acres in Oklahoma County. The address is within ZIP Code 73150 and provides a larger land setting for the existing residential improvements.
Key Highlights
- Approximately 6 acres in Oklahoma City
- Four residences totaling 3,658 square feet
- Mix includes two manufactured homes and two single‑family homes
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 - Multifamily property with manufactured and single-family residences on a substantial Oklahoma City site.
Where is this multifamily property located?
The property is located at 12501 SE 89th Street 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 in Oklahoma City; Four residences totaling 3,658 square feet; Mix includes two manufactured homes and two single‑family homes
