Three-Story Apartment
For Sale
$1,250,000
1408 S Troost Ave, Tulsa, OK 74120
Multifamily property with dedicated laundry facilities and on-site parking near dining, shopping, and entertainment.
Property Size9,840 SF
Price / SF$127.03
Days on Market50
Property Features for 1408 S Troost Ave
General Information
Standard status
Active
Size
9,840 SF
Site & Location
Neighborhood
Cherry St
Highway Access
Yes
Additional Details
Multifamily Units
10
Amenities
laundry area
Building Details
Year Built
1931
Buildings
1
Stories
3
Listing Agency:
Chinowth & Cohen
Listed By:
Kay Sullivan · License #170810
(918) 924-2405
Source:
Theashleygroupok
Added: Sep 14
Changed: Oct 26
Last Checked: Oct 7 at 5:17PM
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 Chinowth & Cohen
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Investment Insights
Based on property information with market context.
Built in 1931, this three-story apartment property contains 10 units and was originally configured as 12 units. The building includes a dedicated laundry area, four rear parking spaces, and additional parking at the front. The roof was replaced in 2025.
Located at 1408 S Troost Ave in Tulsa, the property is near dining, shopping, and entertainment. Highway access provides connections throughout the Tulsa Metro Area.
Located at 1408 S Troost Ave in Tulsa, the property is near dining, shopping, and entertainment. Highway access provides connections throughout the Tulsa Metro Area.
Key Highlights
- 10‑unit apartment building, originally configured as 12 units
- Three‑story building constructed in 1931
- Dedicated laundry area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,772
Cap Rate
7.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,755,440
$1.8M
Cap Rate 7%
$1,253,886
$1.3M
Cap Rate 9%
$975,244
$975.2K
Market Conditions
NOI Build-Up for 9,840 SF
Gross rent
$177.1K $18.00/SF
− Vacancy
−$17.5K −$1.78/SF
EGI
$159.6K $16.22/SF
− OpEx
−$71.8K −$7.30/SF
NOI
$87.8K $8.92/SF
Area
Tulsa, OK
Vacancy
9.90%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,755,440
Cap Rate 7%
$1,253,886
Cap Rate 9%
$975,244
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,772 @ 7.0% cap · market cap 7.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $146,910 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
10
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,897
Businesses Nearby
Explore this area
Business Placement
Demographics for 74120, OK
5,037
Population
3,308
Households
1.5
Avg Household Size
37
Median Age
52%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
2,399
Density / Sq Mi
$66,280
Median Household Income
$46,823
Median Earnings
$1,071
Median Rent
$415,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with dedicated laundry facilities and on-site parking near dining, shopping, and entertainment.
Where is this apartment building located?
The property is located at 1408 S Troost Ave Tulsa, OK.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 10‑unit apartment building, originally configured as 12 units; Three‑story building constructed in 1931; Dedicated laundry area
