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    2281 36Th Ave Norman, OK 73072

    Sponsored
    For Sale
    $6,990,000

    36-Unit Apartment Building, Norman, OK

    Property size:
    56,393 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Class A, three-story apartment building presents a rare opportunity to acquire a prime, newly constructed multifamily property in Norman, Oklahoma. Located at 2281 36th Ave NW, this 56,393 square foot building boasts 36 units – 30 two-bedroom, two-bathroom units and 6 one-bedroom, one-bathroom units – offering a mix of spacious and cozy floor plans. The 40,293 square feet of net rentable space is complemented by 46 parking spaces, catering to residents' needs. Situated on a 1.29-acre lot, the property is zoned SPUD and benefits from a prime location near the University of Oklahoma, ensuring high occupancy rates and strong rental income. The building features a contemporary design with high-quality finishes, stylish fixtures, and abundant natural light. Residents enjoy access to luxurious amenities including a fitness center and a communal lounge area. This limited-time offer provides a significant cost savings; a contract signed before October 1, 2024, secures the property at $6,990,000, representing an immediate $200,000 equity gain. The price per unit is $194,166.67, and the price per square foot is $123.95. This investment presents a compelling opportunity in a thriving market.

    Property Features for 2281 36Th Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    56,393 SF
    Class
    A
    Lot Size
    56,192 SF

    Building Details

    Buildings
    1
    Stories
    3
    Units
    36

    HighLights

    • $6,990,000 asking price for this Class A multifamily property.
    • 36‑unit apartment building totaling 56,393 square feet on a 1.29‑acre lot in Norman, OK.
    • 40,293 square feet of net rentable space, with a price per square foot of $123.95.
    • 46 parking spaces are available for residents.
    • The property features a mix of one and two‑bedroom units.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Norman
    County
    Cleveland
    State
    Oklahoma
    Longitude
    -97.4929049
    Latitude
    35.245908

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    FAQs

    What type of property is this?
    Multifamily property - 36-Unit Apartment Building, Norman, OK
    Where is this multifamily property located?
    The property is located at 2281 36Th Ave Norman, OK.
    What is the asking price?
    The asking price for this property is $6,990,000.
    What are key features of this property?
    This property features: $6,990,000 asking price for this Class A multifamily property.; 36-unit apartment building totaling 56,393 square feet on a 1.29-acre lot in Norman, OK.; 40,293 square feet of net rentable space, with a price per square foot of $123.95.
    Request Owner's contact information
    2281 36Th Ave Norman, OK 73072
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    Norman, OK 73072
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2281 36Th Ave Norman, OK 73072
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