Five-Unit Apartment
For Sale
$434,999
220 E Springer Ave, Guthrie, OK 73044
Remodeled rental units feature individual refrigerators, stainless appliances, and private entrances in the four-unit building.
Property Size3,885 SF
Price / SF$111.97
Days on Market49
Property Features for 220 E Springer Ave
General Information
Standard status
Active
Size
3,885 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 4 x 1BR/1BA
Multifamily Units
5
Additional Details
Gross Income
$48,540
Amenities
Stainless Appliances
Building Details
Year Built
1930
Year Renovated
2021
Tenancy
Multi
Listing Agency:
eXp Realty, LLC
Listed By:
Kathy Parker
(405) 642-1929
Source:
Alloverok
Added: Sep 1
Changed: Oct 12
Last Checked: Oct 7 at 3:49PM
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 eXp Realty, LLC
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Investment Insights
Based on property information with market context.
This five-unit apartment property contains 3,885 square feet across a standalone two-bedroom, one-bath house and a larger building with four one-bedroom, one-bath units. One of the units also includes an office, and each of the four apartments has its own entrance. The units were remodeled, rehabbed, and gutted in 2021, with roofs and HVAC systems replaced that year. Stainless appliances and a refrigerator are provided in each unit.
All five units are occupied and leased, with leases renewed through 2027. Residents pay their own electric, gas, and water utilities. The property includes two separate lots and two tax IDs, with parking along Springer Avenue. The addresses are 220, 222, 222.5, and 224 E. Springer Avenue, plus 323 Broad. The property is one block from the Guthrie High School baseball field and 0.4 miles from historic downtown Guthrie.
All five units are occupied and leased, with leases renewed through 2027. Residents pay their own electric, gas, and water utilities. The property includes two separate lots and two tax IDs, with parking along Springer Avenue. The addresses are 220, 222, 222.5, and 224 E. Springer Avenue, plus 323 Broad. The property is one block from the Guthrie High School baseball field and 0.4 miles from historic downtown Guthrie.
Key Highlights
- Five units totaling 3,885 square feet
- Unit mix includes one 2‑bed/1‑bath house and four 1‑bed/1‑bath apartments
- All 5 units occupied and leased through 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,600
Cap Rate
7.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$672,000
$672.0K
Cap Rate 7%
$480,000
$480.0K
Cap Rate 9%
$373,333
$373.3K
Market Conditions
NOI Build-Up for 3,885 SF
Gross rent
$65.3K $16.80/SF
− Vacancy
−$4.2K −$1.08/SF
EGI
$61.1K $15.72/SF
− OpEx
−$27.5K −$7.08/SF
NOI
$33.6K $8.65/SF
Area
Logan County, OK
Vacancy
6.40%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$672,000
Cap Rate 7%
$480,000
Cap Rate 9%
$373,333
Alternative Uses
Best Use
Apartment 5plus
$480.0K
$420.0K – $560.0K
NOI $33,600 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$939.1K
$821.7K – $1.10M
NOI $65,734 @ 7.0% cap · market cap 15.11%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
631
Businesses Nearby
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Business Placement
Demographics for 73044, OK
24,603
Population
10,050
Households
2.4
Avg Household Size
39
Median Age
24%
College-Educated
91%
High-School Grad
264.7 sq mi
ZIP Area
93
Density / Sq Mi
$71,442
Median Household Income
$39,284
Median Earnings
$890
Median Rent
$200,100
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 - Remodeled rental units feature individual refrigerators, stainless appliances, and private entrances in the four-unit building.
Where is this apartment building located?
The property is located at 220 E Springer Ave Guthrie, OK.
What is the asking price?
The asking price for this property is $434,999.
What are key features of this property?
This property features: Five units totaling 3,885 square feet; Unit mix includes one 2‑bed/1‑bath house and four 1‑bed/1‑bath apartments; All 5 units occupied and leased through 2027
