Updated Quadplex with Covered
For Sale
$375,000
Pending
1900 W Park Place, Oklahoma City, OK 73106
Residential Income, Oklahoma City, OK
Property Size2,659 SF
Lot Size0.22 Acres
Days on Market11
Property Features for 1900 W Park Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 4, Bathroom 1, Bathroom 4, Bedroom 3, Bedroom 2
Parking
6
Fireplace
1
Lot features
Corner Lot
Elementary school
Eugene Field ES
Middle school
Classen MS Of Advanced Studies
High school
Classen HS Of Advanced Studies
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Directions
From NW 11th St and N Penn, go east on NW 11th. Then turn south on Kentucky and follow to Park Place. Homes are on the SW corner of Park Place and Kentucky.
Standard status
Pending
APN
1900WPark73106
Size
2,659 SF
Lot size
0.22 Acres
Utilities
Heating system
Natural Gas
Cooling system
Electric
Amenities
covered porches
mature trees
outdoor space
on-site parking
Building Details
Year built
1921
Floors in Building
1
Building materials
Frame
Roof type
Composition
Architectural style
Bungalow
Listing Agency:
Sage Sotheby's Realty
(405) 748-0405
Listed By:
Julie Snowder
(405) 641-6451
Added: Sep 16
Changed: Sep 22
Last Checked: Sep 26 at 3:06AM
MLS# 1249473
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 2,659-square-foot quadplex comprises two duplex buildings containing four one-bedroom, one-bathroom units. Each residence has a separate entrance and practical living areas, with updated flooring, neutral finishes, natural light, and architectural character. Kitchens include painted cabinetry and butcher-block countertops. Covered porches, outdoor areas, mature trees, and additional parking serve the property, which was built in 1921 with frame construction, a composition roof, natural-gas heat, electric cooling, and a fireplace.
Located at 1900 W Park Place in Oklahoma City, the property is near the Plaza District's dining, retail, entertainment, and local businesses, with surrounding urban districts and downtown Oklahoma City also identified in the property information. All four units are currently leased.
Located at 1900 W Park Place in Oklahoma City, the property is near the Plaza District's dining, retail, entertainment, and local businesses, with surrounding urban districts and downtown Oklahoma City also identified in the property information. All four units are currently leased.
Key Highlights
- Four total units arranged across two full duplexes
- All four units are currently leased
- Each unit offers 1 bedroom and 1 bathroom
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
$24,273
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
6.47%
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%
$485,460
$485.5K
Cap Rate 7%
$346,757
$346.8K
Cap Rate 9%
$269,700
$269.7K
Market Conditions
NOI Build-Up for 2,659 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
$36.7K $13.80/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$34.7K $13.04/SF
− OpEx
−$10.4K −$3.91/SF
NOI
$24.3K $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%
$485,460
Cap Rate 7%
$346,757
Cap Rate 9%
$269,700
Alternative Uses
Best Use
Multifamily LT 5
$346.8K
$303.4K – $404.6K
NOI $24,273 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$320.9K
$280.8K – $374.3K
NOI $22,460 @ 7.0% cap · market cap 5.99%
Theoretical Best
Specialty Retail
$909.4K
$795.7K – $1.06M
NOI $63,656 @ 7.0% cap · market cap 16.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
738
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four leased units in two duplex buildings with private entrances, refreshed kitchens, covered porches, and on-site parking.
Where is this quadplex located?
The property is located at 1900 W Park Place Oklahoma City, OK.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Four total units arranged across two full duplexes; All four units are currently leased; Each unit offers 1 bedroom and 1 bathroom
