Renovated Quadplex with Four
For Sale
$799,900
1805 N Gatewood Avenue, Oklahoma City, OK 73106
MULTI_FAMILY - Other - Oklahoma City, OK
Property Size3,096 SF
Lot Size0.11 Acres
Price / SF$258.37
Days on Market103
Property Features for 1805 N Gatewood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 6, Bathroom 1
Parking
4
Appliances
Dishwasher, Dryer, Refrigerator, Washer
Lot features
Corner Lot
Elementary school
Cleveland ES
Middle school
Belle Isle MS
High school
Classen HS Of Advanced Studies
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Directions
N CLASSEN & NW 16TH WEST TO N GATEWOOD AVE
Standard status
Active
APN
1805NGatewood1&273106
Size
3,096 SF
Lot size
0.11 Acres
Building Details
Year built
1927
Floors in Building
2
Building materials
Brick
Roof type
Composition
Architectural style
Other
Listing Agency:
King Real Estate Group
(405) 739-0550
Listed By:
Stephanie Matthews · License #147831
(405) 370-7309
Added: Apr 29
Changed: Aug 1
Last Checked: Aug 9 at 3:06AM
MLS# 1226672
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.
Investment Insights
Based on property information with market context.
This renovated quadplex totals four units, combining a duplex plus two fully furnished efficiency garage apartments. Each unit includes two bedrooms and one bathroom, and the interiors have been fully updated with renovated kitchens and bathrooms, updated electrical and plumbing, new HVAC systems, and hot water tanks. Original wood flooring adds character throughout. Appliances are included, with refrigerators, washers, and dryers provided for the units.
Externally, the property includes newly poured concrete in the driveway and back patio, new fencing, and structural piers for added stability. The building is brick construction with a composition roof, built in 1927. The lot size is 0.1084 acres, with 3,096 square feet of property size.
Located at 1805 N Gatewood Avenue in the Historic Gatewood addition of Oklahoma City, the property is next to the Plaza District.
Externally, the property includes newly poured concrete in the driveway and back patio, new fencing, and structural piers for added stability. The building is brick construction with a composition roof, built in 1927. The lot size is 0.1084 acres, with 3,096 square feet of property size.
Located at 1805 N Gatewood Avenue in the Historic Gatewood addition of Oklahoma City, the property is next to the Plaza District.
Key Highlights
- Four‑unit quadplex with a duplex plus two fully furnished efficiency garage apartments
- Renovated interiors with new HVAC systems, updated electrical and plumbing, and hot water tanks
- Renovated kitchens and bathrooms with original wood flooring
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
$28,262
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
3.53%
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%
$565,240
$565.2K
Cap Rate 7%
$403,743
$403.7K
Cap Rate 9%
$314,022
$314.0K
Market Conditions
NOI Build-Up for 3,096 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
$42.7K $13.80/SF
− Vacancy
−$2.3K −$0.76/SF
EGI
$40.4K $13.04/SF
− OpEx
−$12.1K −$3.91/SF
NOI
$28.3K $9.13/SF
Area
Oklahoma City, OK
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$565,240
Cap Rate 7%
$403,743
Cap Rate 9%
$314,022
Alternative Uses
Best Use
Multifamily LT 5
$403.7K
$353.3K – $471.0K
NOI $28,262 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$373.6K
$326.9K – $435.9K
NOI $26,151 @ 7.0% cap · market cap 3.27%
Theoretical Best
Specialty Retail
$1.06M
$926.5K – $1.24M
NOI $74,118 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,134
Businesses Nearby
Explore this area
Business Placement
Demographics for 73106, OK
12,956
Population
6,069
Households
2.1
Avg Household Size
32
Median Age
40%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
4,319
Density / Sq Mi
$51,934
Median Household Income
$32,145
Median Earnings
$1,050
Median Rent
$262,500
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?
Quadplex - Completely renovated quadplex in a brick construction featuring two furnished efficiency garage apartments and updated HVAC and appliances.
Where is this quadplex located?
The property is located at 1805 N Gatewood Avenue Oklahoma City, OK.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Four‑unit quadplex with a duplex plus two fully furnished efficiency garage apartments; Renovated interiors with new HVAC systems, updated electrical and plumbing, and hot water tanks; Renovated kitchens and bathrooms with original wood flooring
