Modern Quadplex with
New
For Sale
$525,000
5628 N Meridian Avenue, Oklahoma City, OK 73112
MULTI_FAMILY - Modern - Oklahoma City, OK
Property Size4,524 SF
Lot Size0.39 Acres
Price / SF$116.05
Days on Market3
Property Features for 5628 N Meridian Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 3, Bathroom 2, Bathroom 1, Bathroom 5, Bathroom 6, Bathroom 4
Lot features
Corner Lot
Elementary school
Coronado Heights ES
Middle school
James L. Capps MS
High school
Putnam City HS
Elementary school district
Putnam City
Middle school district
Putnam City
High school district
Putnam City
Directions
4-Plex sits on the corner of N Meridian Avenue and NW 56th Terrace, across the street from Dolese Youth Park.
Standard status
Active
APN
5628NMeridian73112
Size
4,524 SF
Lot size
0.39 Acres
Amenities
washer/dryer availability
Building Details
Year built
1960
Building materials
Brick & Frame
Roof type
Composition
Architectural style
Modern
Listing Agency:
KING Real Estate Group
(405) 739-0550
Listed By:
Tara Luse
(405) 501-0828
Added: Aug 7
Last Checked: Aug 9 at 3:06AM
MLS# 1243463
Copyright © 2026 MLSOK, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This modern quadplex contains four two-story residential units totaling approximately 4,524 square feet. The unit mix includes two residences measuring 1,200 square feet and two measuring 1,060 square feet. Each unit includes two bedrooms, 1.5 baths, and a one-car garage. Tile flooring and washer/dryer availability add practical features, while brick-and-frame construction, a composition roof, and a 1960 build date define the property’s physical profile.
The 0.3905-acre property is located at 5628 N Meridian Avenue in Oklahoma City. Dolese Park is nearby, with more than 150 acres offering walking areas, fishing, playgrounds, sports fields, and multiple disc golf courses. Southern Nazarene University is 3 miles away, and the property is also near major roadways, shopping, restaurants, and everyday amenities.
The 0.3905-acre property is located at 5628 N Meridian Avenue in Oklahoma City. Dolese Park is nearby, with more than 150 acres offering walking areas, fishing, playgrounds, sports fields, and multiple disc golf courses. Southern Nazarene University is 3 miles away, and the property is also near major roadways, shopping, restaurants, and everyday amenities.
Key Highlights
- Four‑unit quadplex with approximately 4,524 SF of living space
- Unit mix includes two 1,200‑square‑foot residences and two 1,060‑square‑foot residences
- Each unit includes a one‑car garage
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
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
641
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 - Four two-story units offer individual garages, tile flooring, and washer/dryer availability near Dolese Park.
Where is this quadplex located?
The property is located at 5628 N Meridian Avenue 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‑unit quadplex with approximately 4,524 SF of living space; Unit mix includes two 1,200‑square‑foot residences and two 1,060‑square‑foot residences; Each unit includes a one‑car garage
