Four-Unit Apartment
For Sale
$240,000
Pending
808 N Cherokee Street, Claremore, OK 74017
Income-producing residential property with a one- and two-bedroom unit mix and established tenancy.
Property Size2,164 SF
Days on Market45
Property Features for 808 N Cherokee Street
General Information
Standard status
Pending
Size
2,164 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1950
Buildings
1
Tenancy
Multi
Listing Agency:
Solid Rock, REALTORS
Listed By:
Katie Brown · License #205594
(918) 271-9321
Source:
Realestateofthe918
Added: Sep 19
Changed: Oct 25
Last Checked: Nov 1 at 3:03AM
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 Solid Rock, REALTORS
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This four-unit residential property contains three one-bedroom, one-bath units and one two-bedroom, one-bath unit within a 2,164-square-foot building constructed in 1950. The existing configuration provides a mix of smaller and larger apartments, with all four units occupied by tenants.
The property is located at 808 N Cherokee Street in Claremore, Oklahoma. Showings require at least 24 hours’ notice, and the property is offered in its current condition. The seller prefers to sell it together with 417 N Muskogee Ave., Claremore, OK 74017.
The property is located at 808 N Cherokee Street in Claremore, Oklahoma. Showings require at least 24 hours’ notice, and the property is offered in its current condition. The seller prefers to sell it together with 417 N Muskogee Ave., Claremore, OK 74017.
Key Highlights
- Four‑unit property with all four units occupied
- Three 1‑bedroom, 1‑bath units
- One 2‑bedroom, 1‑bath unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,426
Cap Rate
6.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$288,520
$288.5K
Cap Rate 7%
$206,086
$206.1K
Cap Rate 9%
$160,289
$160.3K
Market Conditions
NOI Build-Up for 2,164 SF
Gross rent
$29.6K $13.68/SF
− Vacancy
−$3.4K −$1.56/SF
EGI
$26.2K $12.12/SF
− OpEx
−$11.8K −$5.45/SF
NOI
$14.4K $6.67/SF
Area
Rogers County, OK
Vacancy
11.40%
Lease Rate
$13.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$288,520
Cap Rate 7%
$206,086
Cap Rate 9%
$160,289
Alternative Uses
Best Use
Apartment 5plus
$206.1K
$180.3K – $240.4K
NOI $14,426 @ 7.0% cap · market cap 6.01%
Second Best
Multifamily LT 5
$173.7K
$152.0K – $202.6K
NOI $12,157 @ 7.0% cap · market cap 5.07%
Theoretical Best
Specialty Retail
$542.0K
$474.2K – $632.3K
NOI $37,939 @ 7.0% cap · market cap 15.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 74017, OK
29,083
Population
12,038
Households
2.4
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
140.5 sq mi
ZIP Area
207
Density / Sq Mi
$65,519
Median Household Income
$38,165
Median Earnings
$1,015
Median Rent
$184,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Income-producing residential property with a one- and two-bedroom unit mix and established tenancy.
Where is this quadplex located?
The property is located at 808 N Cherokee Street Claremore, OK.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Four‑unit property with all four units occupied; Three 1‑bedroom, 1‑bath units; One 2‑bedroom, 1‑bath unit
