Renovated Four-Unit Duplex
For Sale
$475,000
Pending
2701 NW 16th Street, Oklahoma City, OK 73107
Residential Income, Oklahoma City, OK
Property Size2,940 SF
Lot Size0.21 Acres
Days on Market186
Property Features for 2701 NW 16th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 4, Bedroom 5, Bathroom 3, Bedroom 2, Bathroom 4, Bedroom 1, Bedroom 6
Fireplace
1
Lot features
Interior Lot
Elementary school
Cleveland ES
Middle school
Classen MS Of Advanced Studies,Taft MS
High school
Classen HS Of Advanced Studies,Northwest Classen H
Elementary school district
Oklahoma City
Middle school district
Oklahoma City
High school district
Oklahoma City
Directions
From 16th & Villa, west to Linn. Properties are on the NW corner of 16th & Linn
Standard status
Pending
APN
2701NW16th73107
Size
2,940 SF
Lot size
0.21 Acres
Utilities
Heating system
Electric (Heating)
Cooling system
Central Air, Electric
Building Details
Year built
1930
Floors in Building
1
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Bungalow
Listing Agency:
Sage Sotheby's Realty
(405) 748-0405
Listed By:
Britta Thrift · License #159271
(405) 821-2313
Added: Feb 24
Changed: Aug 21
Last Checked: Aug 29 at 12:06PM
MLS# 1215541
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 residential income property comprises two duplex buildings with four units totaling 2,940 square feet on 0.2066 acres. The unit mix includes two one-bedroom, one-bath residences and two two-bedroom, one-bath residences. The one-bedroom units underwent extensive renovation, including replacement plumbing and electrical systems, new framing and drywall, cabinetry, appliances, bathroom finishes, and flooring. Improvements to the two-bedroom units include central HVAC, updated countertops and sinks, flooring, interior paint, and attic insulation. Both buildings received composition roofs in 2024.
Built in 1930 with brick-and-frame construction and bungalow styling, the property is located at 2701 NW 16th Street in Oklahoma City. One duplex fronts 16th, while the other faces Linn. The owner currently pays water, sewer, and trash service. One two-bedroom unit is leased month-to-month, and the two-bedroom residences are described as slightly below market rent. Showings require 72 hours’ notice.
Built in 1930 with brick-and-frame construction and bungalow styling, the property is located at 2701 NW 16th Street in Oklahoma City. One duplex fronts 16th, while the other faces Linn. The owner currently pays water, sewer, and trash service. One two-bedroom unit is leased month-to-month, and the two-bedroom residences are described as slightly below market rent. Showings require 72 hours’ notice.
Key Highlights
- Four units across two duplex buildings
- Unit mix includes two 1‑bedroom/1‑bath and two 2‑bedroom/1‑bath residences
- 2,940 square feet on 0.2066 acres
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,838
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$536,760
$536.8K
Cap Rate 7%
$383,400
$383.4K
Cap Rate 9%
$298,200
$298.2K
Market Conditions
NOI Build-Up for 2,940 SF
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.
Gross rent
$40.6K $13.80/SF
− Vacancy
−$2.2K −$0.76/SF
EGI
$38.3K $13.04/SF
− OpEx
−$11.5K −$3.91/SF
NOI
$26.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$536,760
Cap Rate 7%
$383,400
Cap Rate 9%
$298,200
Alternative Uses
Best Use
Multifamily LT 5
$383.4K
$335.5K – $447.3K
NOI $26,838 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$354.8K
$310.4K – $413.9K
NOI $24,833 @ 7.0% cap · market cap 5.23%
Theoretical Best
Specialty Retail
$1.01M
$879.8K – $1.17M
NOI $70,384 @ 7.0% cap · market cap 14.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
604
Businesses Nearby
Explore this area
Business Placement
Demographics for 73107, OK
26,318
Population
12,621
Households
2.1
Avg Household Size
34
Median Age
31%
College-Educated
80%
High-School Grad
7.6 sq mi
ZIP Area
3,463
Density / Sq Mi
$58,428
Median Household Income
$38,753
Median Earnings
$1,014
Median Rent
$143,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Four residential units with varied layouts, substantial updates, and income-producing occupancy.
Where is this duplex located?
The property is located at 2701 NW 16th Street Oklahoma City, OK.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Four units across two duplex buildings; Unit mix includes two 1‑bedroom/1‑bath and two 2‑bedroom/1‑bath residences; 2,940 square feet on 0.2066 acres
