Occupied Fourplex Near
New
For Sale
$950,000
2008 NW 27th St, Oklahoma City, OK 73106
Two duplex buildings offer contemporary layouts, established occupancy, and proximity to Oklahoma City University and Midtown amenities.
Property Size4,176 SF
Price / SF$227.49
Days on Market2
Property Features for 2008 NW 27th St
General Information
Standard status
Active
Size
4,176 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/2.5BA
Multifamily Units
4
Building Details
Year Built
2023
Buildings
2
Listing Agency:
Homestead + Co
Listed By:
Brandon Just · License #179315
(405) 748-8500
Source:
Alloverok
Added: Sep 6
Last Checked: Sep 6 at 2:42PM
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 Homestead + Co
Investment Insights
Based on property information with market context.
This multifamily property comprises two duplex buildings on one lot, with four matching residences configured as two-bedroom, two-and-a-half-bath units. Each unit includes an open-concept floor plan, contemporary kitchen, and dedicated living areas. The property was built in 2023 and all four residences are occupied.
The property is located near Oklahoma City University and Midtown, with access to the shops and restaurants in that area. Downtown Oklahoma City is also nearby, adding broader urban connectivity to the surrounding residential setting.
The four-unit configuration provides a consistent unit mix across the property, while the matching layouts create a straightforward operating profile for an owner or portfolio buyer.
The property is located near Oklahoma City University and Midtown, with access to the shops and restaurants in that area. Downtown Oklahoma City is also nearby, adding broader urban connectivity to the surrounding residential setting.
The four-unit configuration provides a consistent unit mix across the property, while the matching layouts create a straightforward operating profile for an owner or portfolio buyer.
Key Highlights
- Four occupied units provide an established rental operation
- Two duplex buildings situated on one lot
- Four identical 2‑bedroom, 2.5‑bath units
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
$38,121
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
4.01%
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%
$762,420
$762.4K
Cap Rate 7%
$544,586
$544.6K
Cap Rate 9%
$423,567
$423.6K
Market Conditions
NOI Build-Up for 4,176 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
$57.6K $13.80/SF
− Vacancy
−$3.2K −$0.76/SF
EGI
$54.5K $13.04/SF
− OpEx
−$16.3K −$3.91/SF
NOI
$38.1K $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%
$762,420
Cap Rate 7%
$544,586
Cap Rate 9%
$423,567
Alternative Uses
Best Use
Multifamily LT 5
$544.6K
$476.5K – $635.4K
NOI $38,121 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$503.9K
$440.9K – $587.9K
NOI $35,273 @ 7.0% cap · market cap 3.71%
Theoretical Best
Specialty Retail
$1.43M
$1.25M – $1.67M
NOI $99,973 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
728
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 duplex buildings offer contemporary layouts, established occupancy, and proximity to Oklahoma City University and Midtown amenities.
Where is this quadplex located?
The property is located at 2008 NW 27th St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Four occupied units provide an established rental operation; Two duplex buildings situated on one lot; Four identical 2‑bedroom, 2.5‑bath units
