5-Unit Apartment
For Sale
$554,000
1818 NW 29th Street, Oklahoma City, OK 73106
The fully leased property has remodeled residences with individual washer-and-dryer hookups.
Property Size4,616 SF
Price / SF$120.02
Days on Market249
Property Features for 1818 NW 29th Street
General Information
Standard status
Active
Size
4,616 SF
Property subtype
More Than 4 Units
Occupancy
100%
Net Operating Income
$47,300
Financials
Cap Rate
8.54%
Gross Income
$64,800
Additional Details
Multifamily Units
5
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,112
Amenities
washer/dryer hookups
Building Details
Building Size
4,616 SF
Year Built
1933
Year Renovated
2023
Listing Agency:
RE/MAX Preferred
Listed By:
Paul Brooks · License #116430
(405) 990-0548
Source:
Baileecompany
Added: Feb 21
Changed: Oct 26
Last Checked: Oct 26 at 11:34AM
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 RE/MAX Preferred
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Investment Insights
Based on property information with market context.
Built in 1933, this 4,616-square-foot apartment property contains five units and eight bathrooms. Renovations completed in 2023 included a new roof and updated mechanical systems. Each unit has individual washer-and-dryer hookups, and the property is fully leased. The reported cap rate is 8.54%.
Oklahoma City University is within walking distance, while Midtown and The Paseo are a short drive away.
Oklahoma City University is within walking distance, while Midtown and The Paseo are a short drive away.
Key Highlights
- Five‑unit apartment property with all units leased
- 4,616 square feet with eight bathrooms
- 2023 renovations included a new roof and updated mechanicals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,990
Cap Rate
7.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$779,800
$779.8K
Cap Rate 7%
$557,000
$557.0K
Cap Rate 9%
$433,222
$433.2K
Market Conditions
NOI Build-Up for 4,616 SF
Gross rent
$74.8K $16.20/SF
− Vacancy
−$3.9K −$0.84/SF
EGI
$70.9K $15.36/SF
− OpEx
−$31.9K −$6.91/SF
NOI
$39.0K $8.45/SF
Area
Oklahoma City, OK
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$779,800
Cap Rate 7%
$557,000
Cap Rate 9%
$433,222
Alternative Uses
Best Use
Apartment 5plus
$557.0K
$487.4K – $649.8K
NOI $38,990 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.58M
$1.38M – $1.84M
NOI $110,507 @ 7.0% cap · market cap 19.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
948
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
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
Frequently Asked Questions
What type of property is this?
Apartment building - The fully leased property has remodeled residences with individual washer-and-dryer hookups.
Where is this apartment building located?
The property is located at 1818 NW 29th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $554,000.
What are key features of this property?
This property features: Five‑unit apartment property with all units leased; 4,616 square feet with eight bathrooms; 2023 renovations included a new roof and updated mechanicals
