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1020 S Rock Island Ave
El Reno, OK 73036
Multifamily Property For Sale
·
11 Units
Investment Highlights
- All units are individually metered.
- The property is professionally managed.
- Utilities are tenant-paid.
- 11 Units
Executive Summary
SALT Commercial Real Estate Partners is pleased to present 1020 S Rock Island Avenue, an 11-unit mixed-use investment property in El Reno, Oklahoma, offered at $499,000.
The two-story masonry building was constructed in 1964 and contains ten residential apartments plus an 831 SF ground-floor retail bay fronting the Route 66 / U.S. Highway 81 corridor. The property sits on 0.22 acres roughly 25 miles west of downtown Oklahoma City with immediate access to Interstate 40, in the seat of Canadian County.
All units are individually metered and utilities are tenant-paid. That structure keeps the owner insulated from utility inflation and supports a materially better expense ratio than comparable all-bills-paid product of this vintage.
The offering carries two distinct and independent sources of upside.
First, rents. In-place rents run $565 to $800 per month across the ten apartments, at or below the nearest El Reno comparable. That leaves a clear mark-to-market runway a buyer can capture on natural turnover without a heavy renovation program.
Second, the retail bay. The 831 SF ground-floor commercial space is vacant and generated no revenue in 2025. Leasing it adds a second income stream, diversifies the tenant base away from pure residential turnover, and captures drive-by exposure on one of the highest-visibility corridors in El Reno.
El Reno anchors Canadian County, the fourth most populous and among the fastest growing counties in Oklahoma, with a population up roughly 25% since the 2020 census. The five-mile trade area is a workforce renter market well matched to this rent band. Statewide multifamily deliveries fall approximately 55% in 2026, tightening supply for existing affordable stock.
The property is professionally managed with full owner reporting in place, allowing a buyer to assume operations without a management transition.
Full financials, rent roll and offering memorandum are available in the Data Room. Contact Paul Swales, CCIM at (405) 679-3708.
The two-story masonry building was constructed in 1964 and contains ten residential apartments plus an 831 SF ground-floor retail bay fronting the Route 66 / U.S. Highway 81 corridor. The property sits on 0.22 acres roughly 25 miles west of downtown Oklahoma City with immediate access to Interstate 40, in the seat of Canadian County.
All units are individually metered and utilities are tenant-paid. That structure keeps the owner insulated from utility inflation and supports a materially better expense ratio than comparable all-bills-paid product of this vintage.
The offering carries two distinct and independent sources of upside.
First, rents. In-place rents run $565 to $800 per month across the ten apartments, at or below the nearest El Reno comparable. That leaves a clear mark-to-market runway a buyer can capture on natural turnover without a heavy renovation program.
Second, the retail bay. The 831 SF ground-floor commercial space is vacant and generated no revenue in 2025. Leasing it adds a second income stream, diversifies the tenant base away from pure residential turnover, and captures drive-by exposure on one of the highest-visibility corridors in El Reno.
El Reno anchors Canadian County, the fourth most populous and among the fastest growing counties in Oklahoma, with a population up roughly 25% since the 2020 census. The five-mile trade area is a workforce renter market well matched to this rent band. Statewide multifamily deliveries fall approximately 55% in 2026, tightening supply for existing affordable stock.
The property is professionally managed with full owner reporting in place, allowing a buyer to assume operations without a management transition.
Full financials, rent roll and offering memorandum are available in the Data Room. Contact Paul Swales, CCIM at (405) 679-3708.
Property Facts
| Price Per Unit | $45,364 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| No. Units | 11 | Building Size | 7,902 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1964 |
| Apartment Style | Low-Rise | Parking Ratio | 2.41/1,000 SF |
| Price Per Unit | $45,364 |
| Sale Type | Investment |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 7,902 SF |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 2.41/1,000 SF |
Amenities
Site Amenities
- On-Site Retail
- Vintage Building
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 11 | - | - |
Property Taxes
| Parcel Number | 090027739 | Improvements Assessment | $28,032 |
| Land Assessment | $3,402 | Total Assessment | $31,434 |
Property Taxes
Parcel Number
090027739
Land Assessment
$3,402
Improvements Assessment
$28,032
Total Assessment
$31,434
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