Remodeled 6-Unit Multifamily
15351 W Hwy 66 Sapulpa, OK 74066
15351 W Hwy 66, Sapulpa, OK, 74066
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For Sale
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Six remodeled 2-bedroom, 1-bath units with in-unit laundry hookups and central HVAC, offering current occupancy of 83%.
Property Size5,088 SF
Price / SF$137.38
Days on Market107
Property Features for 15351 W Hwy 66
General Information
- Standard status
- Active
- Size
- 5,088 SF
- Property subtype
- Multifamily
Listing agency
Oak & Sage Realty
(918) 995-1367
Listed by
Greg Robbins · License #202435
Source
Crexi
Added: Apr 6 Updated: Jul 20 at 9:52PM Checked: Jul 21 at 4:15AM
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 Oak & Sage Realty
Investment Insights
Based on property information with market context.
This remodeled 6-unit multifamily property features six efficient 2-bedroom, 1-bath apartments, each approximately 766 square feet. The interior was gut-renovated in 2018 with updated HVAC, ductwork, water heaters, flooring, appliances, cabinets, and finishes. Additional capital improvements include a new roof and an upstairs deck completed in 2019. Unit features include granite countertops, open-concept living, in-unit laundry hookups, central HVAC, and two parking spaces per unit.
The property is located at 15351 W Hwy 66 in Sapulpa, Oklahoma, along Route 66 and positioned for convenient access to Tulsa. The site also provides access to I-44 and the Creek Turnpike.
At the time of the remarks, the property is 83% occupied with 5 of 6 units in place.
The property is located at 15351 W Hwy 66 in Sapulpa, Oklahoma, along Route 66 and positioned for convenient access to Tulsa. The site also provides access to I-44 and the Creek Turnpike.
At the time of the remarks, the property is 83% occupied with 5 of 6 units in place.
Key Highlights
- 6‑unit multifamily on Route 66 in Sapulpa, OK, with current occupancy of 83% (5 of 6 units).
- Each unit is a 2‑bedroom, 1‑bath with approximately 766 SF, with in‑unit laundry hookups.
- 2018 full interior gut renovation with updated HVAC, ductwork, water heaters, flooring, appliances, cabinets, and finishes.
Local 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 | $73.9k | $14.52 |
| − Vacancy | −$7.9k | −$1.55 |
| EGI | $66.0k | $12.97 |
| − OpEx | −$29.7k | −$5.83 |
| NOI | $36.3k | $7.13 |
5,088 SF · lease $14.52/SF/yr · vacancy 10.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$518.4K
$453.6K – $604.8K
NOI $36,285 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,584 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Six remodeled 2-bedroom, 1-bath units with in-unit laundry hookups and central HVAC, offering current occupancy of 83%.
Where is this apartment building located?
The property is located at 15351 W Hwy 66 Sapulpa, OK.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 6‑unit multifamily on Route 66 in Sapulpa, OK, with current occupancy of 83% (5 of 6 units).; Each unit is a 2‑bedroom, 1‑bath with approximately 766 SF, with in‑unit laundry hookups.; 2018 full interior gut renovation with updated HVAC, ductwork, water heaters, flooring, appliances, cabinets, and finishes.
