5-Unit Apartment
220 E Springer Avenue Guthrie, OK 73044
For Sale
$440,000
MULTI_FAMILY - Victorian - Guthrie, OK
Property Size3,885 SF
Lot Size0.08 Acres
Price / SF$113.26
Days on Market168
Property Features for 220 E Springer Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
5
Rooms
Bathroom 2, Bedroom 2, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 4, Bathroom 3, Bathroom 5, Bedroom 3, Bedroom 6, Bedroom 4
Appliances
Water Heater
Standard status
Active
APN
220ESpringer73044
Size
3,885 SF
Lot size
0.08 Acres
Building Details
Year built
1930
Floors in Building
2
Building materials
Frame
Roof type
Composition
Architectural style
Victorian
Listing Agency:
eXp Realty, LLC
(888) 560-3964
Listed By:
Kathy Parker
(405) 642-1929
Added: Feb 10
Changed: Jul 25
Last Checked: Jul 28 at 4:06AM
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.
Investment Insights
Based on property information with market context.
This 5-unit multi-family rental includes one standalone 2-bed, 1-bath house at 220 E Springer Avenue and a larger building with four units across 220.5, 222, 222.5, and 224 E Springer Avenue. The four units in the larger structure are 1-bed, 1-bath configurations, each with its own entry; one unit (#222) also includes an office. Each unit has a refrigerator and stainless appliances. The property was sold as-is following extensive renovation in 2021, including gutting/remodeling across all five units, with roof replacements and HVAC installed in 2021.
The property sits on two separate lots with two tax IDs (#0000679 and #0000682). Tenants pay their own electric, gas, and water. Parking is available on Springer Avenue.
Additional address listed for the overall property is 323 Broad. The reported total monthly rent is approximately $3,970.
The property sits on two separate lots with two tax IDs (#0000679 and #0000682). Tenants pay their own electric, gas, and water. Parking is available on Springer Avenue.
Additional address listed for the overall property is 323 Broad. The reported total monthly rent is approximately $3,970.
Key Highlights
- 5‑unit multi‑family rental with 3,885 SF total; includes a stand‑alone 2BR/1BA house plus a bigger 4‑unit building
- 4 units have their own entry and are 1BR/1BA each; #222 has 1BR/1BA plus an office
- All 5 units remodeled/rehabbed and gutted in 2021; roof replaced on all units in 2021, and HVAC installed in 2021
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $65.3k | $16.80 |
| − Vacancy | −$4.2k | −$1.08 |
| EGI | $61.1k | $15.72 |
| − OpEx | −$27.5k | −$7.08 |
| NOI | $33.6k | $8.65 |
3,885 SF · lease $16.80/SF/yr · vacancy 6.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$480.0K
$420.0K – $560.0K
NOI $33,600 @ 7.0% cap · market cap 7.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$939.1K
$821.7K – $1.10M
NOI $65,734 @ 7.0% cap · market cap 14.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Five rented units totaling 3,885 SF, remodeled in 2021, with utilities paid by tenants and parking on Springer Avenue.
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 $440,000.
What are key features of this property?
This property features: 5‑unit multi‑family rental with 3,885 SF total; includes a stand‑alone 2BR/1BA house plus a bigger 4‑unit building; 4 units have their own entry and are 1BR/1BA each; #222 has 1BR/1BA plus an office; All 5 units remodeled/rehabbed and gutted in 2021; roof replaced on all units in 2021, and HVAC installed in 2021
