5-Unit Renovated Apartment
220 E Springer Avenue, Guthrie, OK 73044
For Sale
$434,999
Residential Income, Guthrie, OK
Property Size3,885 SF
Lot Size0.08 Acres
Price / SF$111.97
Days on Market276
Property Features for 220 E Springer Avenue
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Appliances
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Amenities
stainless appliances
refrigerator
Building Details
Year built
Floors in Building
Building materials
Roof type
Architectural style
Listing Agency:
eXp Realty, LLC
(888) 560-3964
Listed By:
Kathy Parker
(405) 642-1929
Added: Feb 10
Changed: Oct 29
Last Checked: Nov 12 at 8:06AM
MLS# 1211287
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.
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Investment Insights
Based on property information with market context.
This 5-unit apartment property includes a detached 2-bedroom, 1-bath house and a larger building with four separately entered apartments. Four units offer 1 bedroom and 1 bath, while one includes an office. The improvements were remodeled and gutted in 2021, with roof replacement and HVAC updates completed the same year. Stainless appliances and a refrigerator are provided in each unit.
The property contains 3885 square feet across two separate lots and two tax IDs, with parking along Springer Avenue. Guthrie High School’s baseball field is one block away, and historic downtown Guthrie is approximately 0.4 miles from the property. All five units are occupied, with leases renewed through 2027. Residents pay their own electric, gas, and water expenses.
The property contains 3885 square feet across two separate lots and two tax IDs, with parking along Springer Avenue. Guthrie High School’s baseball field is one block away, and historic downtown Guthrie is approximately 0.4 miles from the property. All five units are occupied, with leases renewed through 2027. Residents pay their own electric, gas, and water expenses.
Key Highlights
- 5 units totaling 3885 square feet
- All 5 units occupied with leases renewed through 2027
- Units remodeled, rehabbed, and gutted in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,600
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$632,000
$632.0K
Cap Rate 7%
$451,429
$451.4K
Cap Rate 9%
$351,111
$351.1K
Market Conditions
NOI Build-Up for 3,885 SF
Gross rent
$60.6K $15.60/SF
− Vacancy
−$3.2K −$0.81/SF
EGI
$57.5K $14.79/SF
− OpEx
−$25.9K −$6.65/SF
NOI
$31.6K $8.13/SF
Area
Logan County, OK
Vacancy
5.20%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$632,000
Cap Rate 7%
$451,429
Cap Rate 9%
$351,111
Alternative Uses
Best Use
Apartment 5plus
$451.4K
$395.0K – $526.7K
NOI $31,600 @ 7.0% cap · market cap 7.26%
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
631
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated multifamily package with occupied units and leases extending through 2027.
Where is this apartment building located?
The property is located at 220 E Springer Avenue 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: 5 units totaling 3885 square feet; All 5 units occupied with leases renewed through 2027; Units remodeled, rehabbed, and gutted in 2021
