Six-Unit Remodeled Apartment
For Sale
$840,000
Pending
214 W Maple Ave, Stillwater, OK 74074
Fully occupied multifamily property with updated interiors, in-unit laundry, gated courtyard, and on-site parking near Oklahoma State University.
Property Size5,824 SF
Days on Market47
Property Features for 214 W Maple Ave
General Information
Standard status
Pending
Size
5,824 SF
Property subtype
Residential Income
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$7,341
Amenities
gated front courtyard
in-unit washer and dryer
Building Details
Year Renovated
2021
Stories
2
Tenancy
Multi
Listing Agency:
RE/MAX Signature
(405) 533-3000
Listed By:
Vicky Jerome · License #115489
(405) 747-7239
Source:
Exprealty
Added: Sep 12
Changed: Oct 25
Last Checked: Oct 26 at 9:00PM
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 RE/MAX Signature
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Investment Insights
Based on property information with market context.
This six-unit apartment building contains three upper-level and three lower-level residences, each measuring approximately 970 square feet. Every unit includes two bedrooms, one bathroom, an open living and kitchen area, and a stackable washer and dryer. Granite countertops and luxury vinyl plank flooring are installed throughout, and all six apartments underwent complete remodeling in Fall 2020/Spring 2021. A gated front courtyard and on-site parking serve the property.
Located three blocks from Oklahoma State University in Stillwater, the property is currently 100% occupied. Existing leases extend through May or June 2027, giving the next owner established tenancy at closing. The owner currently pays utilities other than tenant internet and/or cable. Beginning in May 2027, the planned arrangement calls for the owner to pay water, with tenants responsible for other applicable utilities because the property has a single water meter.
Located three blocks from Oklahoma State University in Stillwater, the property is currently 100% occupied. Existing leases extend through May or June 2027, giving the next owner established tenancy at closing. The owner currently pays utilities other than tenant internet and/or cable. Beginning in May 2027, the planned arrangement calls for the owner to pay water, with tenants responsible for other applicable utilities because the property has a single water meter.
Key Highlights
- Six apartment units totaling 5,824 square feet
- 100% occupied with leases extending through May or June 2027
- Each unit offers approximately 970 sq. ft., 2 bedrooms, and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,534
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$830,680
$830.7K
Cap Rate 7%
$593,343
$593.3K
Cap Rate 9%
$461,489
$461.5K
Market Conditions
NOI Build-Up for 5,824 SF
Gross rent
$84.6K $14.52/SF
− Vacancy
−$9.0K −$1.55/SF
EGI
$75.5K $12.97/SF
− OpEx
−$34.0K −$5.83/SF
NOI
$41.5K $7.13/SF
Area
Payne County, OK
Vacancy
10.70%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$830,680
Cap Rate 7%
$593,343
Cap Rate 9%
$461,489
Alternative Uses
Best Use
Apartment 5plus
$593.3K
$519.2K – $692.2K
NOI $41,534 @ 7.0% cap · market cap 4.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,253 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,898
Businesses Nearby
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Business Placement
Demographics for 74074, OK
32,326
Population
14,328
Households
2.3
Avg Household Size
29
Median Age
51%
College-Educated
96%
High-School Grad
127.4 sq mi
ZIP Area
254
Density / Sq Mi
$50,245
Median Household Income
$26,971
Median Earnings
$965
Median Rent
$247,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with updated interiors, in-unit laundry, gated courtyard, and on-site parking near Oklahoma State University.
Where is this apartment building located?
The property is located at 214 W Maple Ave Stillwater, OK.
What is the asking price?
The asking price for this property is $840,000.
What are key features of this property?
This property features: Six apartment units totaling 5,824 square feet; 100% occupied with leases extending through May or June 2027; Each unit offers approximately 970 sq. ft., 2 bedrooms, and 1 bathroom
