16-Unit Multifamily
1731 NW 32nd Street Oklahoma City, OK 73118
For Sale
$1,190,000
16-unit multifamily property with upgraded electrical systems and a mix of 2-, 1-, and 3-bedroom apartments.
Property Size11,948 SF
Price / SF$99.60
Days on Market551
Property Features for 1731 NW 32nd Street
General Information
- Standard status
- Active
- Size
- 11,948 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1964
Listing Agency:
LIME Realty
(405) 808-5265
Listed By:
Kelly Heaton
(405) 808-5265
Source:
Xome
Added: Jan 19, 2025
Changed: Jul 23
Last Checked: Jul 24 at 5:40AM
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 LIME Realty
Investment Insights
Based on property information with market context.
This 16-unit multifamily property offers a mix of apartment unit types, including nine two-bedroom units, six one-bedroom units, and one three-bedroom unit. The current ownership has fully upgraded the electrical systems, supporting a low-maintenance operating foundation. The property also has on-site laundry machines that are currently not in use. Documentation available upon request includes a clean pre-inspection report and a roof report.
The property is located near major commuter routes, a popular college, and employment centers, supporting steady local rental demand. The listing indicates occupancy at 85%.
As presented, the building’s unit mix and recent electrical upgrades provide a straightforward setup for income-focused ownership, with additional value opportunities tied to bringing the laundry equipment into use and completing light unit refreshes.
The property is located near major commuter routes, a popular college, and employment centers, supporting steady local rental demand. The listing indicates occupancy at 85%.
As presented, the building’s unit mix and recent electrical upgrades provide a straightforward setup for income-focused ownership, with additional value opportunities tied to bringing the laundry equipment into use and completing light unit refreshes.
Key Highlights
- 16‑unit multifamily property in Oklahoma City with a unit mix of 9 two‑bedroom, 6 one‑bedroom, and 1 three‑bedroom units
- 85% occupancy reported, with the property described as cash‑flowing
- Electrical systems have been fully upgraded by current ownership
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $193.6k | $16.20 |
| − Vacancy | −$10.1k | −$0.84 |
| EGI | $183.5k | $15.36 |
| − OpEx | −$82.6k | −$6.91 |
| NOI | $100.9k | $8.45 |
11,948 SF · lease $16.20/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,921 @ 7.0% cap · market cap 8.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.09M
$3.58M – $4.77M
NOI $286,035 @ 7.0% cap · market cap 24.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - 16-unit multifamily property with upgraded electrical systems and a mix of 2-, 1-, and 3-bedroom apartments.
Where is this apartment building located?
The property is located at 1731 NW 32nd Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: 16‑unit multifamily property in Oklahoma City with a unit mix of 9 two‑bedroom, 6 one‑bedroom, and 1 three‑bedroom units; 85% occupancy reported, with the property described as cash‑flowing; Electrical systems have been fully upgraded by current ownership
