Remodeled 3-Unit
2110 N Kelley Ave, Oklahoma City, OK 73111
For Sale
$449,000
Three occupied apartments offer varied bedroom counts, updated interiors, washer and dryer hookups, and private parking.
Property Size2,654 SF
Price / SF$169.18
Days on Market22
Property Features for 2110 N Kelley Ave
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Gross Income
Tenant in Place
Amenities
washer/dryer hookups
private parking
Building Details
Year Renovated
Listing Agency:
Burchfield Realty
(405) 470-1508
Listed By:
Dustin Burchfield
(405) 230-7374
Source:
Exprealty
Added: Oct 19
Changed: Nov 7
Last Checked: Nov 8 at 11:51AM
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 Burchfield Realty
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Investment Insights
Based on property information with market context.
This triplex contains three occupied apartments: a two-bedroom, one-bath unit at 1,477 square feet, a one-bedroom, one-bath unit at 550 square feet, and a three-bedroom, one-bath unit at 1,437 square feet. A comprehensive renovation was completed in 2020, with work spanning the foundation through interior finishes. Improvements include tile and granite, updated showers, new HVAC equipment and a hot water tank, plus washer and dryer connections. The property also has private parking, a driveway, a rear concrete area, and fencing.
The three residences are located at 2108, 2108.5, and 2110 N. Kelley Avenue in Oklahoma City.
The three residences are located at 2108, 2108.5, and 2110 N. Kelley Avenue in Oklahoma City.
Key Highlights
- Three apartments: 2 bed/1 bath at 1,477 SF; 1 bed/1 bath at 550 SF; 3 bed/1 bath at 1,437 SF
- Renovation completed in 2020, including work from the foundation through interior finishes
- Updated HVAC, hot water tank, showers, tile, and granite
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,228
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$484,560
$484.6K
Cap Rate 7%
$346,114
$346.1K
Cap Rate 9%
$269,200
$269.2K
Market Conditions
NOI Build-Up for 2,654 SF
Gross rent
$36.6K $13.80/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$34.6K $13.04/SF
− OpEx
−$10.4K −$3.91/SF
NOI
$24.2K $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 Rate 5%
$484,560
Cap Rate 7%
$346,114
Cap Rate 9%
$269,200
Alternative Uses
Best Use
Multifamily LT 5
$346.1K
$302.9K – $403.8K
NOI $24,228 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$320.2K
$280.2K – $373.6K
NOI $22,417 @ 7.0% cap · market cap 4.99%
Theoretical Best
Specialty Retail
$907.7K
$794.2K – $1.06M
NOI $63,537 @ 7.0% cap · market cap 14.15%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,875
Businesses Nearby
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Business Placement
Demographics for 73111, OK
11,451
Population
5,670
Households
2
Avg Household Size
42
Median Age
19%
College-Educated
86%
High-School Grad
8.6 sq mi
ZIP Area
1,332
Density / Sq Mi
$39,739
Median Household Income
$30,159
Median Earnings
$941
Median Rent
$109,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied apartments offer varied bedroom counts, updated interiors, washer and dryer hookups, and private parking.
Where is this triplex located?
The property is located at 2110 N Kelley Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Three apartments: 2 bed/1 bath at 1,477 SF; 1 bed/1 bath at 550 SF; 3 bed/1 bath at 1,437 SF; Renovation completed in 2020, including work from the foundation through interior finishes; Updated HVAC, hot water tank, showers, tile, and granite
