Multifamily
For Sale
$355,000
1811 Wren Street, Norman, OK 73069
The property includes electric and natural gas features.
Property Size2,914 SF
Price / SF$121.83
Days on Market46
Property Features for 1811 Wren Street
General Information
Standard status
Active
Size
2,914 SF
Property subtype
Residential Income
Amenities
Electric
Natural Gas
Concrete
Traditional
Building Details
Year Built
1981
Stories
2
Listing Agency:
Urban RE LLC
Listed By:
Kesia Samborski · License #159504
(405) 305-7373
Source:
Evrealestate
Added: Aug 21
Changed: Oct 4
Last Checked: Oct 5 at 5:32PM
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 Urban RE LLC
Investment Insights
Based on property information with market context.
This multifamily property at 1811 Wren Street in Norman, Oklahoma, was built in 1981. Electric and natural gas are listed among its interior features, with concrete and traditional elements noted on the exterior.
The property is in Cleveland County.
The property is in Cleveland County.
Key Highlights
- Built in 1981
- Electric and natural gas features
- Concrete and traditional exterior features
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,276
Cap Rate
6.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$485,520
$485.5K
Cap Rate 7%
$346,800
$346.8K
Cap Rate 9%
$269,733
$269.7K
Market Conditions
NOI Build-Up for 2,914 SF
Gross rent
$47.2K $16.20/SF
− Vacancy
−$3.1K −$1.05/SF
EGI
$44.1K $15.15/SF
− OpEx
−$19.9K −$6.82/SF
NOI
$24.3K $8.33/SF
Area
Norman, OK
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$485,520
Cap Rate 7%
$346,800
Cap Rate 9%
$269,733
Alternative Uses
Best Use
Apartment 5plus
$346.8K
$303.5K – $404.6K
NOI $24,276 @ 7.0% cap · market cap 6.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$503.5K
$440.6K – $587.5K
NOI $35,248 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
Explore this area
Business Placement
Demographics for 73069, OK
26,464
Population
12,719
Households
2.1
Avg Household Size
32
Median Age
45%
College-Educated
93%
High-School Grad
15.7 sq mi
ZIP Area
1,686
Density / Sq Mi
$55,699
Median Household Income
$34,151
Median Earnings
$1,031
Median Rent
$212,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - The property includes electric and natural gas features.
Where is this multifamily property located?
The property is located at 1811 Wren Street Norman, OK.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Built in 1981; Electric and natural gas features; Concrete and traditional exterior features
