7-Unit Condominium
New
For Sale
$675,000
3524 Nw 51st St, Oklahoma City, OK 73112
Seven two-bedroom residences combine open living and kitchen areas with shared community amenities and reserved parking.
Property Size6,930 SF
Price / SF$97.40
Days on Market7
Property Features for 3524 Nw 51st St
General Information
Standard status
Active
Size
6,930 SF
Property subtype
Residential Income
Net Operating Income
$63,513
Financials
Asking Price
$675,000
Cap Rate
9.41%
Gross Income
$96,000
Units
Unit Mix
7 x 2BR/1.5BA
Multifamily Units
7
Additional Details
Highway Access
Yes
Amenities
swimming pool
on-site laundry facility
reserved parking
Listing Agency:
eXp Realty, LLC
(888) 560-3964
Listed By:
Mahmoud Alriyalat · License #159199
(405) 209-6044
Source:
Exprealty
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 13 at 2:28AM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This multifamily offering comprises seven condominium units, each configured with two bedrooms, one and a half bathrooms, and an open living and kitchen area. Heating systems and hot water tanks are gas-powered. The community includes a swimming pool, an on-site laundry facility, and reserved parking. The reported cap rate is approximately 9.41%.
Association services include gas, water, trash removal, lawn care, landscaping, exterior and roof maintenance, and specified plumbing and utility-line repairs. Building exterior and common-area insurance is provided through the association; tenant personal property and interior contents are not covered. Tenants pay electricity and handle interior upkeep as provided in their leases, subject to association-covered items.
The package consists of units at 3524 NW 51st St, 3532 NW 51st St, and 3536 NW 51st St in Oklahoma City. The property is near I-44, NW Expressway, medical centers, shopping, dining, and parks.
Association services include gas, water, trash removal, lawn care, landscaping, exterior and roof maintenance, and specified plumbing and utility-line repairs. Building exterior and common-area insurance is provided through the association; tenant personal property and interior contents are not covered. Tenants pay electricity and handle interior upkeep as provided in their leases, subject to association-covered items.
The package consists of units at 3524 NW 51st St, 3532 NW 51st St, and 3536 NW 51st St in Oklahoma City. The property is near I-44, NW Expressway, medical centers, shopping, dining, and parks.
Key Highlights
- Seven condominium units, each with 2 bedrooms and 1.5 bathrooms
- Open living and kitchen layout in each unit
- Community swimming pool, on‑site laundry facility, and reserved parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,535
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,170,700
$1.2M
Cap Rate 7%
$836,214
$836.2K
Cap Rate 9%
$650,389
$650.4K
Market Conditions
NOI Build-Up for 6,930 SF
Gross rent
$112.3K $16.20/SF
− Vacancy
−$5.8K −$0.84/SF
EGI
$106.4K $15.36/SF
− OpEx
−$47.9K −$6.91/SF
NOI
$58.5K $8.45/SF
Area
Oklahoma City, OK
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,170,700
Cap Rate 7%
$836,214
Cap Rate 9%
$650,389
Alternative Uses
Best Use
Apartment 5plus
$836.2K
$731.7K – $975.6K
NOI $58,535 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.37M
$2.07M – $2.77M
NOI $165,904 @ 7.0% cap · market cap 24.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
7
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,981
Businesses Nearby
Explore this area
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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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Seven two-bedroom residences combine open living and kitchen areas with shared community amenities and reserved parking.
Where is this multifamily property located?
The property is located at 3524 Nw 51st St Oklahoma City, OK.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Seven condominium units, each with 2 bedrooms and 1.5 bathrooms; Open living and kitchen layout in each unit; Community swimming pool, on‑site laundry facility, and reserved parking
