4-Unit Two-Story
For Sale
$525,000
5628 N Meridian Ave, Oklahoma City, OK 73112
Each residence includes a dedicated one-car garage and a separate living-and-sleeping arrangement.
Property Size4,524 SF
Price / SF$116.05
Days on Market22
Property Features for 5628 N Meridian Ave
General Information
Standard status
Active
Size
4,524 SF
Property subtype
Multi-Family
Building Details
Year Built
1960
Listing Agency:
Lime Realty
(405) 400-0789
Listed By:
Breann Green
(405) 400-0789
Source:
Oklahomarealestate
Added: Aug 9
Changed: Aug 29
Last Checked: Aug 29 at 1:41PM
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 Lime Realty
Investment Insights
Based on property information with market context.
This four-unit residential property contains four two-bedroom, 1.5-bath residences, with each unit including a one-car garage. Two units measure 1,200 sq ft and two measure 1,060 sq ft, totaling approximately 4,524 SF of living space on a 0.39-acre lot. The two-story layouts separate living and sleeping areas, while tile flooring and washer/dryer availability add practical features for occupants. Built in 1960, the property is located at 5628 N Meridian Ave in Oklahoma City.
Dolese Park is directly nearby and spans more than 150 acres with walking areas, fishing, playgrounds, sports fields, and multiple disc golf courses. Southern Nazarene University is 3 miles away, with major roadways, shopping, restaurants, and everyday amenities also located nearby.
Dolese Park is directly nearby and spans more than 150 acres with walking areas, fishing, playgrounds, sports fields, and multiple disc golf courses. Southern Nazarene University is 3 miles away, with major roadways, shopping, restaurants, and everyday amenities also located nearby.
Key Highlights
- Four 2‑bedroom, 1.5‑bath units, each with a 1‑car garage
- Two units are 1,200 sq ft; two units are 1,060 sq ft
- Approximately 4,524 SF of living space on a 0.39‑acre lot
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
$41,298
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
7.87%
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%
$825,960
$826.0K
Cap Rate 7%
$589,971
$590.0K
Cap Rate 9%
$458,867
$458.9K
Market Conditions
NOI Build-Up for 4,524 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
$62.4K $13.80/SF
− Vacancy
−$3.4K −$0.76/SF
EGI
$59.0K $13.04/SF
− OpEx
−$17.7K −$3.91/SF
NOI
$41.3K $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%
$825,960
Cap Rate 7%
$589,971
Cap Rate 9%
$458,867
Alternative Uses
Best Use
Multifamily LT 5
$590.0K
$516.2K – $688.3K
NOI $41,298 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$545.9K
$477.7K – $636.9K
NOI $38,213 @ 7.0% cap · market cap 7.28%
Theoretical Best
Specialty Retail
$1.55M
$1.35M – $1.81M
NOI $108,305 @ 7.0% cap · market cap 20.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
497
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Each residence includes a dedicated one-car garage and a separate living-and-sleeping arrangement.
Where is this quadplex located?
The property is located at 5628 N Meridian Ave Oklahoma City, OK.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1.5‑bath units, each with a 1‑car garage; Two units are 1,200 sq ft; two units are 1,060 sq ft; Approximately 4,524 SF of living space on a 0.39‑acre lot
