Four-Unit Investment Property Near Fort
2903 Northeast Tortoise Drive, Lawton, OK 73507
Call to check price and availability
Four-unit property near Fort Sill with income-generating potential.
Type:Multifamily
Property size:
3,328 SFPrice / SF:
$102/SF- Added:
- May 21, 2026
- Days on Market:
- 9
- Last Refresh:
- May 27 at 8:15 am
Property Features for 2903 Northeast Tortoise Drive
General Information
- Standard status
- Active
- Size
- 3,328 SF
- Property subtype
- Multifamily
Listing agent Charles Webber License #OK 149530
Listing office Cummins-Setters Commercial Partners (800) 294-8118
Listing date May 21, 2026
Source Crexi
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 Cummins-Setters Commercial Partners
HighLights
- Income‑generating asset with $2,925 monthly gross rental income and potential for increase.
- 100% occupied, ensuring immediate cash flow.
- VA loan eligibility for owner‑occupancy in one of the units (if buyer is VA eligible).
- New roof, reducing maintenance and ensuring long‑term value.
- Convenient location near Fort Sill, Rogers Lane, and Interstate 44.
- Four 2‑bedroom, 1‑bath units.
Overview
This four-unit investment property offers an opportunity for investors to initiate or expand their real estate portfolio. Each unit features a two-bedroom, one-bath configuration. The property generates $2,925 in monthly gross rental income and is currently 100% occupied. Yearly expenses run 22% of gross sales. A new roof contributes to reduced maintenance requirements. The property is located near Fort Sill, Rogers Lane, and Interstate 44, providing easy access to shopping, dining, and employment centers. This property is suited for investors interested in stable cash flow and the potential for increased returns over time.
Local Financial Insights For Multifamily LT 5
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 | $30.0k | $9.00 |
| − Vacancy | −$3.5k | −$1.05 |
| EGI | $26.4k | $7.95 |
| − OpEx | −$7.9k | −$2.38 |
| NOI | $18.5k | $5.56 |
3,328 SF · lease $9.00/SF/yr · vacancy 11.70% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$264.5K
$231.4K – $308.6K
NOI $18,513 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$232.8K
$203.7K – $271.6K
NOI $16,298 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$818.4K
$716.1K – $954.8K
NOI $57,287 @ 7.0% cap · market cap 16.82%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Lawton
- County
- Comanche
- State
- Oklahoma
- Longitude
- -98.374651
- Latitude
- 34.637018
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Four-unit property near Fort Sill with income-generating potential.
Where is this quadplex located?
The property is located at 2903 Northeast Tortoise Drive Lawton, OK.
What is the asking price?
The asking price for this property is $340,500.
What are key features of this property?
This property features: Income‑generating asset with $2,925 monthly gross rental income and potential for increase.; 100% occupied, ensuring immediate cash flow.; VA loan eligibility for owner‑occupancy in one of the units (if buyer is VA eligible).
