Four-Unit Multifamily
For Sale
$950,000
2008 NW 27th Street, Oklahoma City, OK 73106
Residential Income, Oklahoma City, OK
Property Size4,176 SF
Lot Size0.16 Acres
Price / SF$227.49
Days on Market12
Property Features for 2008 NW 27th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
12
Full bathrooms
8
Half bathrooms
4
Rooms
Bathroom 2, Bathroom 10, Bedroom 4, Bathroom 11, Bedroom 2, Bedroom 7, Bedroom 6, Bedroom 5, Bedroom 8, Bedroom 1, Bathroom 12, Bathroom 4, Bathroom 3, Bathroom 7, Bedroom 3, Bathroom 8, Bathroom 5, Bathroom 9, Bathroom 6, Bathroom 1
Parking
4
Lot features
Interior Lot
Elementary school
Eugene Field ES
Middle school
Moon MS
High school
Douglass HS
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Directions
From I 44 head south on Penn Ave. Turn East onto 27th Street. On the South side of the road the property will be about a block down.
Standard status
Active
APN
2008NW27th73106
Size
4,176 SF
Lot size
0.16 Acres
Building Details
Year built
2023
Floors in Building
2
Building materials
Frame
Roof type
Shingle
Listing Agency:
Homestead + Co
(405) 509-0541
Listed By:
Brandon Just · License #179315
(405) 623-2021
Added: Aug 17
Changed: Aug 21
Last Checked: Aug 28 at 7:06PM
MLS# 1244898
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 fourplex comprises two duplex buildings on a 0.1607-acre lot, with 4,176 square feet across four matching units. Each residence includes 2 bedrooms, 2.5 bathrooms, an open-concept arrangement, a contemporary kitchen, and dedicated living areas. The buildings use frame construction with shingle roofing. Roof, HVAC systems, water heaters, electrical components, and plumbing are identified as two years old.
All four units are occupied, providing an established operating profile. The property is located near Oklahoma City University and Midtown, with access to nearby shops, restaurants, and downtown Oklahoma City. Its Oklahoma City, OK 73106 location places the four-unit asset within an established urban setting.
All four units are occupied, providing an established operating profile. The property is located near Oklahoma City University and Midtown, with access to nearby shops, restaurants, and downtown Oklahoma City. Its Oklahoma City, OK 73106 location places the four-unit asset within an established urban setting.
Key Highlights
- Four units, each with 2 bedrooms and 2.5 bathrooms
- 4,176‑square‑foot multifamily property on 0.1607 acres
- Two duplex buildings situated on one lot
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Two duplex buildings contain matching two-bedroom units with contemporary kitchens and all units currently occupied.
Where is this quadplex located?
The property is located at 2008 NW 27th Street 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 units, each with 2 bedrooms and 2.5 bathrooms; 4,176‑square‑foot multifamily property on 0.1607 acres; Two duplex buildings situated on one lot
