Leased Multifamily
For Sale
$239,995
1519 E 66th Ct, Tulsa, OK 74136
Currently leased asset offering 2,635 square feet of multifamily space in Tulsa.
Property Size2,635 SF
Price / SF$91.08
Days on Market21
Property Features for 1519 E 66th Ct
General Information
Standard status
Active
Size
2,635 SF
Property subtype
Multi-Family
Building Details
Year Built
1970
Listing Agency:
Fox And Associates
(918) 456-5288
Listed By:
Century 21 Wright Real Estate
(918) 456-5288
Source:
Century21wright
Added: Aug 12
Changed: Aug 31
Last Checked: Sep 1 at 6:44PM
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 Fox And Associates
Investment Insights
Based on property information with market context.
This multifamily property contains 2,635 square feet and was constructed in 1970. The asset is currently leased, providing an existing occupancy arrangement for review by prospective purchasers.
Located at 1519 E 66th Ct in Tulsa, Oklahoma, the property is available for consideration as an individual acquisition. The seller may also consider a bulk sale, subject to the terms of the transaction.
Located at 1519 E 66th Ct in Tulsa, Oklahoma, the property is available for consideration as an individual acquisition. The seller may also consider a bulk sale, subject to the terms of the transaction.
Key Highlights
- Currently leased multifamily property
- 2,635 square feet of property size
- Constructed in 1970
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
$20,683
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
8.62%
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%
$413,660
$413.7K
Cap Rate 7%
$295,471
$295.5K
Cap Rate 9%
$229,811
$229.8K
Market Conditions
NOI Build-Up for 2,635 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
$41.7K $15.84/SF
− Vacancy
−$4.1K −$1.57/SF
EGI
$37.6K $14.27/SF
− OpEx
−$16.9K −$6.42/SF
NOI
$20.7K $7.85/SF
Area
ZIP 74136
Vacancy
9.90%
Lease Rate
$15.84 /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%
$413,660
Cap Rate 7%
$295,471
Cap Rate 9%
$229,811
Alternative Uses
Best Use
Apartment 5plus
$295.5K
$258.5K – $344.7K
NOI $20,683 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$571.4K
$500.0K – $666.6K
NOI $39,996 @ 7.0% cap · market cap 16.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,232
Businesses Nearby
Explore this area
Business Placement
Demographics for 74136, OK
30,416
Population
16,375
Households
1.9
Avg Household Size
38
Median Age
38%
College-Educated
91%
High-School Grad
7.7 sq mi
ZIP Area
3,950
Density / Sq Mi
$51,314
Median Household Income
$35,072
Median Earnings
$926
Median Rent
$292,200
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 - Currently leased asset offering 2,635 square feet of multifamily space in Tulsa.
Where is this multifamily property located?
The property is located at 1519 E 66th Ct Tulsa, OK.
What is the asking price?
The asking price for this property is $239,995.
What are key features of this property?
This property features: Currently leased multifamily property; 2,635 square feet of property size; Constructed in 1970
