Renovated Four-Unit
For Sale
$499,900
1820 NW 11th Street, Oklahoma City, OK 73106
Two-story brick building with updated unit finishes and immediate lease-up availability.
Property Size3,182 SF
Lot Size0.16 Acres
Price / SF$157.10
Days on Market90
Property Features for 1820 NW 11th Street
General Information
Standard status
Active
Size
3,182 SF
Total Parking Spaces
4
Lot size
0.16 Acres
Property subtype
Residential Income
Occupancy
25%
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,457
Amenities
mini-split HVAC
granite kitchen
stainless steel appliances
in-unit washer/dryer hookups
Building Details
Building Size
3,182 SF
Year Built
1930
Buildings
1
Stories
2
Units
4
Construction
brick
Listing Agency:
CityGates Real Estate LLC
(405) 412-8369
Listed By:
Brooke Bale
(405) 412-8369
Source:
Jarmanrealtyok
Added: Jun 2
Changed: Aug 28
Last Checked: Aug 29 at 10:18AM
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 CityGates Real Estate LLC
Investment Insights
Based on property information with market context.
This renovated quadplex contains four one-bedroom, one-bath apartments within a two-story brick building. Each residence includes mini-split HVAC, a granite kitchen, stainless steel appliances, and hookups for an in-unit washer and dryer. The property encompasses 3,182 square feet on a 7,000-square-foot lot and dates to 1930. The sale is offered as-is.
One apartment is currently leased, while the remaining three units are available for immediate lease-up. The property is situated in Oklahoma City’s urban core, minutes from the NW 23rd dining and entertainment district.
One apartment is currently leased, while the remaining three units are available for immediate lease-up. The property is situated in Oklahoma City’s urban core, minutes from the NW 23rd dining and entertainment district.
Key Highlights
- Four one‑bedroom, one‑bath apartment units
- 3,182 square feet in a two‑story brick building
- 7,000‑square‑foot lot; building dates to 1930
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
$29,048
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
5.81%
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%
$580,960
$581.0K
Cap Rate 7%
$414,971
$415.0K
Cap Rate 9%
$322,756
$322.8K
Market Conditions
NOI Build-Up for 3,182 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
$43.9K $13.80/SF
− Vacancy
−$2.4K −$0.76/SF
EGI
$41.5K $13.04/SF
− OpEx
−$12.4K −$3.91/SF
NOI
$29.0K $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%
$580,960
Cap Rate 7%
$414,971
Cap Rate 9%
$322,756
Alternative Uses
Best Use
Multifamily LT 5
$415.0K
$363.1K – $484.1K
NOI $29,048 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$384.0K
$336.0K – $448.0K
NOI $26,877 @ 7.0% cap · market cap 5.38%
Theoretical Best
Specialty Retail
$1.09M
$952.2K – $1.27M
NOI $76,177 @ 7.0% cap · market cap 15.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
25%
Occupancy
Location Intelligence
Trade Area within ½ mile
157
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 - Two-story brick building with updated unit finishes and immediate lease-up availability.
Where is this quadplex located?
The property is located at 1820 NW 11th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath apartment units; 3,182 square feet in a two‑story brick building; 7,000‑square‑foot lot; building dates to 1930
