225 NW 24th ST Oklahoma City, OK 73103
UPDATED:
Key Details
Property Type Multi-Family
Sub Type More Than 4 Units
Listing Status Pending
Purchase Type For Sale
Square Footage 7,142 sqft
Price per Sqft $140
MLS Listing ID OKC1163724
Style Historic,Other
Bedrooms 14
Full Baths 14
Construction Status Brick
Year Built 1924
Annual Tax Amount $10,664
Lot Size 8,400 Sqft
Property Sub-Type More Than 4 Units
Property Description
Property Highlights: Currently 80% occupied, generating approx. $8,149/month in income, with a projected $11,780/month ($141,360/year) at full occupancy. Unit mix: 8 one-bed/one-bath units and 6 efficiency units. Square footage: main building 5,712 SF and detached efficiency building 1,430 SF. Units are separately metered for electric. Seller pays water and trash.
Operating Expenses: Average monthly expenses are approx. $2,285, including water & trash ($300), yard work ($200), property taxes ($889), and insurance ($896), totaling $27,420/year.
Improvements: New roof on efficiency buildings, updated plumbing and electrical, mini-split HVAC, windows, bathrooms, and appliances in efficiencies. One-bedroom units renovated in 2, 3, 4, and 8 with updates in 7 & 5. Four brand-new water heaters (two are three years old). Laundry room with hookups and new washer/dryers. Common areas have new flooring and fresh paint. Exterior courtyard upgraded with new concrete, gazebo, fencing, and secured gated entry.
Financials: $8,149 current monthly income, $97,788 annual income at current occupancy, with upside potential of $141,360 annually at full occupancy.
This property offers stable income in a high-demand rental market, minimal deferred maintenance, and excellent long-term potential.
Location
State OK
County Oklahoma
Interior
Heating Central Electric
Cooling Central Elec
Fireplace N
Appliance Water Heater
Exterior
Parking Features Concrete
Garage Description Concrete
Roof Type Other
Building
Lot Description Interior Lot
Story 2
Foundation Combination
Architectural Style Historic, Other
Level or Stories Two
Structure Type Brick
Construction Status Brick
Schools
Elementary Schools Wilson Es
Middle Schools Moon Ms
High Schools Douglass Hs
School District Oklahoma City
Others
Miscellaneous Fenced Property,Separate Meters
Acceptable Financing Cash, Conventional, Special Funding
Listing Terms Cash, Conventional, Special Funding
Realtor/Broker Associate | License ID: 172150
+1(405) 595-8902 | casey.tuter@brixrealty.com