Updated Two-Story
For Sale
$290,000
3231 N Utah Ave, Oklahoma City, OK 73112
Both units are leased and feature refreshed interiors, private garages, fenced yards, and separate utility hookups.
Property Size2,326 SF
Price / SF$124.68
Days on Market85
Property Features for 3231 N Utah Ave
General Information
Standard status
Active
Size
2,326 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,321
Utilities to Site
Yes
Amenities
in-unit laundry
washer/dryer
fenced backyard
balcony
wood-burning fireplace
stainless steel appliances
Building Details
Year Built
1969
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Bailee & Co. Real Estate
Listed By:
Kiera Underwood
(479) 883-2594
Source:
Kathleenforrest
Added: Jul 25
Changed: Oct 8
Last Checked: Oct 16 at 11:13AM
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 Bailee & Co. Real Estate
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Investment Insights
Based on property information with market context.
This updated duplex contains approximately 2,326 square feet across two two-story units, each with 2 bedrooms and 1.5 bathrooms. Both residences include a downstairs living area, half bath, garage, upstairs living space, built-in shelving, and a wood-burning fireplace. Kitchens connect to dining areas and balconies, with stainless steel appliances, expanded cabinet storage, refreshed lighting, paint, and flooring. Each unit also has in-unit laundry, while one includes a washer and dryer. Single-car garages provide utility hookups, and separate fenced backyards offer direct access from the primary bedrooms.
Located at 3231 N Utah Avenue in Oklahoma City, the property occupies an interior lot with a concrete drive. Both units are leased, with terms extending through December 31, 2026, and September 6, 2026. Water is shared-metered and billed back to tenants; tenants pay other utilities, while lawn care is included.
Located at 3231 N Utah Avenue in Oklahoma City, the property occupies an interior lot with a concrete drive. Both units are leased, with terms extending through December 31, 2026, and September 6, 2026. Water is shared-metered and billed back to tenants; tenants pay other utilities, while lawn care is included.
Key Highlights
- Two‑unit duplex with approximately 2,326 square feet total
- Each unit includes 2 bedrooms, 1.5 bathrooms, and a two‑story layout
- Leases extend through December 31, 2026, and September 6, 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,233
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,660
$424.7K
Cap Rate 7%
$303,329
$303.3K
Cap Rate 9%
$235,922
$235.9K
Market Conditions
NOI Build-Up for 2,326 SF
Gross rent
$32.1K $13.80/SF
− Vacancy
−$1.8K −$0.76/SF
EGI
$30.3K $13.04/SF
− OpEx
−$9.1K −$3.91/SF
NOI
$21.2K $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 Rate 5%
$424,660
Cap Rate 7%
$303,329
Cap Rate 9%
$235,922
Alternative Uses
Best Use
Multifamily LT 5
$303.3K
$265.4K – $353.9K
NOI $21,233 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$280.7K
$245.6K – $327.5K
NOI $19,647 @ 7.0% cap · market cap 6.77%
Theoretical Best
Specialty Retail
$795.5K
$696.1K – $928.1K
NOI $55,684 @ 7.0% cap · market cap 19.20%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
561
Businesses Nearby
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Business Placement
Demographics for 73112, OK
31,113
Population
16,413
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
7.6 sq mi
ZIP Area
4,094
Density / Sq Mi
$57,833
Median Household Income
$39,641
Median Earnings
$1,030
Median Rent
$173,100
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?
Duplex - Both units are leased and feature refreshed interiors, private garages, fenced yards, and separate utility hookups.
Where is this duplex located?
The property is located at 3231 N Utah Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 2,326 square feet total; Each unit includes 2 bedrooms, 1.5 bathrooms, and a two‑story layout; Leases extend through December 31, 2026, and September 6, 2026
