1838 11Th StOklahoma City, OK 73106

Property Details for 1838 11Th St

Year built

1928

Property size (Sq ft)

6,480 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional 10-unit multifamily investment property, located at 1838 NW 11th St, Oklahoma City, OK 73106, offers a compelling opportunity. Priced at $1,400,000, this stabilized investment boasts a 4.67% cap rate and a substantial net operating income (NOI) of $65,347. The property features a total of 6,480 square feet on an 11,481 square foot lot, encompassing a six-unit Gothic-style building and two renovated duplexes. Built in 1928 and extensively renovated in 2023, the property includes 20 parking spaces and is zoned for multifamily use. The units consist of eight one-bedroom apartments and two efficiency units, all equipped for washer/dryer combos. Modern amenities such as updated water systems, mini-split HVAC units, thermal windows, and electrical systems complement the preserved historic details. New concrete parking and sidewalks enhance the property's curb appeal. Situated just five blocks south of the Plaza District and near Midtown, this property benefits from its location in a rapidly developing area of Oklahoma City, offering tenants access to green spaces and some units featuring private yards. The property's turnkey nature ensures low overhead costs, making it an attractive, hassle-free investment. The APN is R062865200. This is a rare opportunity to acquire a high-quality asset in a prime location.

Location Insight

City

Oklahoma City

County

Oklahoma

State

Oklahoma

Latitude

35.4807

Longitude

-97.5429

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