12-Unit Apartment
2715 Chattanooga, Ardmore, OK 73401
For Sale
$1,390,000
Each residence has a two-bedroom layout, in-unit laundry, a wood-burning fireplace, and a private deck.
Property Size11,340 SF
Price / SF$122.57
Days on Market158
Property Features for 2715 Chattanooga
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
washer and dryer
wood-burning fireplace
private deck
Wet Bar
Ceiling Fan(s)
Irrigation Sprinklers
Lighting
Storage
Building Details
Building Size
Year Built
Listing Agency:
Ross Group Real Estate Service
(580) 223-2100
Listed By:
Sarah Newton
(580) 229-5029
Source:
1oakok
Added: Jun 5
Changed: Nov 7
Last Checked: Nov 8 at 5:24PM
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 Ross Group Real Estate Service
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Investment Insights
Based on property information with market context.
This 12-unit apartment property contains 11,340 square feet and was built in 1984. All apartments are configured with two bedrooms and one bathroom, along with an individual washer and dryer, a wood-burning fireplace, and a private deck. Eight units received interior remodeling within the last five years, and the roof was replaced approximately five years ago. The property is zoned C1.
Located in Ardmore, the complex is within the Plainview school district. Additional land lies north of the apartment buildings.
Located in Ardmore, the complex is within the Plainview school district. Additional land lies north of the apartment buildings.
Key Highlights
- 12 apartments, each with a two‑bedroom, one‑bathroom floor plan
- 11,340 square feet; built in 1984
- Washer and dryer, wood‑burning fireplace, and private deck in every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,871
Cap Rate
5.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,617,420
$1.6M
Cap Rate 7%
$1,155,300
$1.2M
Cap Rate 9%
$898,567
$898.6K
Market Conditions
NOI Build-Up for 11,340 SF
Gross rent
$164.7K $14.52/SF
− Vacancy
−$17.6K −$1.55/SF
EGI
$147.0K $12.97/SF
− OpEx
−$66.2K −$5.83/SF
NOI
$80.9K $7.13/SF
Area
Carter 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%
$1,617,420
Cap Rate 7%
$1,155,300
Cap Rate 9%
$898,567
Alternative Uses
Best Use
Apartment 5plus
$1.16M
$1.01M – $1.35M
NOI $80,871 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.91M
$2.54M – $3.39M
NOI $203,576 @ 7.0% cap · market cap 14.65%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
186
Businesses Nearby
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Business Placement
Demographics for 73401, OK
36,744
Population
16,349
Households
2.2
Avg Household Size
41
Median Age
23%
College-Educated
88%
High-School Grad
351.5 sq mi
ZIP Area
105
Density / Sq Mi
$60,288
Median Household Income
$39,005
Median Earnings
$960
Median Rent
$174,700
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 - Each residence has a two-bedroom layout, in-unit laundry, a wood-burning fireplace, and a private deck.
Where is this apartment building located?
The property is located at 2715 Chattanooga Ardmore, OK.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: 12 apartments, each with a two‑bedroom, one‑bathroom floor plan; 11,340 square feet; built in 1984; Washer and dryer, wood‑burning fireplace, and private deck in every unit
