Brick Quadplex With
New
For Sale
$450,000
220 N Tacoma Ave, Tulsa, OK 74127
A two-story brick building includes one-bedroom units, hardwood floors, and parking for each residence.
Property Size3,360 SF
Price / SF$133.93
Days on Market2
Property Features for 220 N Tacoma Ave
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Amenities
hardwood floors
revamped kitchen
Building Details
Year Built
1928
Stories
2
Construction
brick Colonial-style
Listing Agency:
Oklahomey
Listed By:
Stephanie Robesky · License #184881
(415) 680-6808
Source:
Cheathamrealty
Added: Sep 6
Last Checked: Sep 7 at 1:19PM
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 Oklahomey
Investment Insights
Based on property information with market context.
Built in 1928, this two-story quadplex contains four one-bedroom, one-bathroom units within a full-brick Colonial-style building. Interior features include hardwood flooring and a revamped kitchen, while each unit is accompanied by a parking spot. The property is offered as-is.
The address is near downtown Tulsa in Owen Park, providing an established urban setting for a four-unit residential property. The building contains 3,360 square feet and offers a clearly defined unit configuration for buyers seeking a small multifamily asset or a property accommodating multigenerational living.
The address is near downtown Tulsa in Owen Park, providing an established urban setting for a four-unit residential property. The building contains 3,360 square feet and offers a clearly defined unit configuration for buyers seeking a small multifamily asset or a property accommodating multigenerational living.
Key Highlights
- Four one‑bedroom, one‑bathroom units
- 3,360 SF two‑story quadplex
- Full‑brick Colonial‑style construction
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
$32,731
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
7.27%
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%
$654,620
$654.6K
Cap Rate 7%
$467,586
$467.6K
Cap Rate 9%
$363,678
$363.7K
Market Conditions
NOI Build-Up for 3,360 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
$51.6K $15.36/SF
− Vacancy
−$4.9K −$1.44/SF
EGI
$46.8K $13.92/SF
− OpEx
−$14.0K −$4.17/SF
NOI
$32.7K $9.74/SF
Area
Tulsa, OK
Vacancy
9.40%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
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%
$654,620
Cap Rate 7%
$467,586
Cap Rate 9%
$363,678
Alternative Uses
Best Use
Multifamily LT 5
$467.6K
$409.1K – $545.5K
NOI $32,731 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$428.2K
$374.6K – $499.5K
NOI $29,971 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$716.6K
$627.1K – $836.1K
NOI $50,165 @ 7.0% cap · market cap 11.15%
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
260
Businesses Nearby
Explore this area
Business Placement
Demographics for 74127, OK
15,669
Population
7,474
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
85%
High-School Grad
21.3 sq mi
ZIP Area
736
Density / Sq Mi
$47,287
Median Household Income
$29,981
Median Earnings
$955
Median Rent
$120,600
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?
Quadplex - A two-story brick building includes one-bedroom units, hardwood floors, and parking for each residence.
Where is this quadplex located?
The property is located at 220 N Tacoma Ave Tulsa, OK.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bathroom units; 3,360 SF two‑story quadplex; Full‑brick Colonial‑style construction
