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408 Chautauqua 4 plex close to OU 408 Chautauqua Ave 4 Unit Apartment Building $495,000 ($123,750/Unit) Norman, OK 73069
Investment Highlights
- 100% occupied. Close to University of Oklahoma
Executive Summary
Exceptional opportunity to acquire a fully leased multifamily asset in one of Norman's most desirable rental corridors, just minutes from the University of Oklahoma. Located in the heart of the campus area, 408 Chautauqua Avenue consists of four one-bedroom, one-bathroom units that cater to the strong and consistent demand generated by OU students, faculty, staff, and young professionals.
The property features four separately metered units, allowing tenants to pay their own utilities and minimizing owner operating expenses. With all units currently leased, investors benefit from immediate in-place cash flow and a stabilized income stream from day one. The building offers a highly efficient unit mix, attractive to renters seeking affordable housing within close proximity to campus, Campus Corner, and downtown Norman amenities.
Originally constructed in 1930 and configured as a four-unit multifamily property, the asset provides a proven rental history in a location known for strong occupancy and enduring tenant demand. The property's walkable location near the University of Oklahoma enhances its long-term investment appeal and provides a significant competitive advantage within the Norman rental market.
Investment Highlights
Four (4) one-bedroom, one-bathroom units
gas range and refrigerator in each unit
Fully leased with immediate cash flow
Separately metered units
large basement
mock fireplace in one unit
Prime location near the University of Oklahoma
Consistent student and workforce rental demand
Low-maintenance multifamily investment opportunity
Strong long-term appreciation potential in a proven rental submarket
408 Chautauqua Avenue presents investors with the rare combination of stabilized occupancy, efficient operations, and an irreplaceable location near one of Oklahoma's largest universities.
The property features four separately metered units, allowing tenants to pay their own utilities and minimizing owner operating expenses. With all units currently leased, investors benefit from immediate in-place cash flow and a stabilized income stream from day one. The building offers a highly efficient unit mix, attractive to renters seeking affordable housing within close proximity to campus, Campus Corner, and downtown Norman amenities.
Originally constructed in 1930 and configured as a four-unit multifamily property, the asset provides a proven rental history in a location known for strong occupancy and enduring tenant demand. The property's walkable location near the University of Oklahoma enhances its long-term investment appeal and provides a significant competitive advantage within the Norman rental market.
Investment Highlights
Four (4) one-bedroom, one-bathroom units
gas range and refrigerator in each unit
Fully leased with immediate cash flow
Separately metered units
large basement
mock fireplace in one unit
Prime location near the University of Oklahoma
Consistent student and workforce rental demand
Low-maintenance multifamily investment opportunity
Strong long-term appreciation potential in a proven rental submarket
408 Chautauqua Avenue presents investors with the rare combination of stabilized occupancy, efficient operations, and an irreplaceable location near one of Oklahoma's largest universities.
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Property Facts
| Price | $495,000 | Building Class | C |
| Price Per Unit | $123,750 | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 2,548 SF |
| No. Units | 4 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1930 |
| Apartment Style | Low-Rise | ||
| Zoning | UR - Urban Residential | ||
| Price | $495,000 |
| Price Per Unit | $123,750 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 2,548 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1930 |
| Zoning | UR - Urban Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+4 | 4 | - | - |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | R0043366 | Improvements Assessment | $23,626 |
| Land Assessment | $5,277 | Total Assessment | $28,903 |
Property Taxes
Parcel Number
R0043366
Land Assessment
$5,277
Improvements Assessment
$23,626
Total Assessment
$28,903
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408 Chautauqua 4 plex close to OU | 408 Chautauqua Ave