Furnished Two-Unit
For Sale
$285,000
1509 S Indianapolis Ave, Tulsa, OK 74112
Full-brick duplex with furnished residences and private laundry in each unit.
Property Size1,497 SF
Price / SF$190.38
Days on Market73
Property Features for 1509 S Indianapolis Ave
General Information
Standard status
Active
Size
1,497 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Furnished
Yes
Highway Access
Yes
Amenities
private washer/dryer
Building Details
Year Built
1930
Buildings
1
Construction
full-brick
Listing Agency:
Chinowth & Cohen
Listed By:
Val Gaudet · License #152736
(918) 605-7823
Source:
Therentzteam
Added: Aug 5
Changed: Oct 12
Last Checked: Oct 5 at 11:29PM
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.
This 1,497-square-foot duplex, built in 1930, contains two furnished residences, each configured with one bedroom and one bathroom. Both units include furniture, décor, bedding, linens, kitchen essentials, and a private washer and dryer. Full-brick construction, hardwood flooring, updated kitchens, and comfortable living areas combine original character with practical residential improvements.
The property is located in Tulsa’s Sunrise Terrace area, near Cherry Street, Utica Square, Ascension St. John Medical Center, downtown Tulsa, and major expressways. Its furnished two-unit configuration supports executive rentals, housing for traveling medical professionals, corporate housing, short-term rentals, or conventional leasing.
The property is located in Tulsa’s Sunrise Terrace area, near Cherry Street, Utica Square, Ascension St. John Medical Center, downtown Tulsa, and major expressways. Its furnished two-unit configuration supports executive rentals, housing for traveling medical professionals, corporate housing, short-term rentals, or conventional leasing.
Key Highlights
- Two furnished 1‑bedroom, 1‑bath residences
- 1,497 square feet across the duplex
- Private washer and dryer in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,583
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$291,660
$291.7K
Cap Rate 7%
$208,329
$208.3K
Cap Rate 9%
$162,033
$162.0K
Market Conditions
NOI Build-Up for 1,497 SF
Gross rent
$23.0K $15.36/SF
− Vacancy
−$2.2K −$1.44/SF
EGI
$20.8K $13.92/SF
− OpEx
−$6.2K −$4.17/SF
NOI
$14.6K $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 Rate 5%
$291,660
Cap Rate 7%
$208,329
Cap Rate 9%
$162,033
Alternative Uses
Best Use
Multifamily LT 5
$208.3K
$182.3K – $243.1K
NOI $14,583 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$190.8K
$166.9K – $222.6K
NOI $13,353 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$319.3K
$279.4K – $372.5K
NOI $22,350 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
846
Businesses Nearby
Explore this area
Business Placement
Demographics for 74112, OK
20,810
Population
10,524
Households
2
Avg Household Size
38
Median Age
27%
College-Educated
87%
High-School Grad
6.8 sq mi
ZIP Area
3,060
Density / Sq Mi
$55,848
Median Household Income
$37,151
Median Earnings
$1,024
Median Rent
$149,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Full-brick duplex with furnished residences and private laundry in each unit.
Where is this duplex located?
The property is located at 1509 S Indianapolis Ave Tulsa, OK.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two furnished 1‑bedroom, 1‑bath residences; 1,497 square feet across the duplex; Private washer and dryer in each unit
