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    16-Unit Multifamily Property Title is generated by Realmo AI

    1731 NW 32nd Street, Oklahoma City, OK 73118

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    Claim this Listing
    For Sale
    $1,190,000

    MULTI_FAMILY - Oklahoma City, OK

    Property size:
    11,948 SF
    Lot size:
    0.45 Acres
    Price / SF:
    $99/SF
    Added:
    Jun 13, 2025
    Days on Market:
    375
    Last Refresh:
    Jun 22 at 10:06 am

    Property Features for 1731 NW 32nd Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Multi-Family
    Standard status
    Active
    APN
    1731NW32nd73118
    Size
    11,948 SF
    Lot size
    0.45 Acres

    Building Details

    Year built
    1964
    Floors in Building
    2

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    Listing Contact
    Kelly Heaton

    Listing agent Kelly Heaton

    Listing office LIME Realty 5909 NW Expressway, Oklahoma City, OK

    Listing date Jun 13, 2025

    MLS# 1175629

    Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 16‑unit multifamily property built in 1964 in Oklahoma City
    • Unit mix includes nine 2‑bedroom, six 1‑bedroom, and one 3‑bedroom unit
    • Currently 85% occupancy with stated cash‑flowing performance
    • Ownership has fully upgraded electrical systems for lower‑maintenance operations
    • Pre‑inspection report and roof report available upon request
    • On‑site laundry machines currently not in use

    Overview

    This 16-unit multifamily property includes a unit mix of nine two-bedroom units, six one-bedroom units, and one three-bedroom unit. The current ownership has fully upgraded the electrical systems, supporting low-maintenance operations. The property is approximately 11,948 square feet on a 0.4545-acre lot, and it includes on-site laundry machines that are currently not in use. Report availability includes a clean pre-inspection report and a roof report, available upon request. The offering is described as operating at approximately 85% occupancy.

    Located at 1731 NW 32nd Street in Oklahoma City, Oklahoma, the community is positioned near major commuter routes, a college, and employment centers, which can be helpful for attracting and retaining renters in the area.

    For investors or operators seeking a manageable multifamily platform, the electrical upgrades and existing laundry infrastructure provide a straightforward foundation for day-to-day management. The current unit mix offers flexibility for different renter profiles, from one-bedroom to larger households. Interested parties can request the financial package, including the rent roll and available reports, and schedule a private showing to review the property’s current condition and operating details.

    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 $193.6k $16.20
    − Vacancy −$10.1k −$0.84
    EGI $183.5k $15.36
    − OpEx −$82.6k −$6.91
    NOI $100.9k $8.45
    11,948 SF · lease $16.20/SF/yr · vacancy 5.20% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $1.44M
    $1.26M – $1.68M (±1% cap)
    NOI $100,921 @ 7.0% cap · market cap 8.48%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Specialty Retail
    $4.09M
    $3.58M – $4.77M (±1% cap)
    NOI $286,035 @ 7.0% cap · market cap 24.04%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oklahoma City
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.541823
    Latitude
    35.503361

    FAQs

    What type of property is this?
    Apartment building - Upgraded 16-unit multifamily with nine two-bed, six one-bed, and one three-bed homes, plus on-site laundry.
    Where is this apartment building located?
    The property is located at 1731 NW 32nd Street Oklahoma City, OK.
    What is the asking price?
    The asking price for this property is $1,190,000.
    What are key features of this property?
    This property features: 16‑unit multifamily property built in 1964 in Oklahoma City; Unit mix includes nine 2‑bedroom, six 1‑bedroom, and one 3‑bedroom unit; Currently 85% occupancy with stated cash‑flowing performance
    More about this property
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