2281 36Th AveNorman, OK 73072

Property Details for 2281 36Th Ave

Lot size

1.48 AC

Property type

Commercial land

APN

NC29PRAK5 1 5A001

APU

NC29PRAK515A001

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $13,191,855

  Hospitality

  $12,083,668

  Educational

  $10,053,470

  Medical

  $10,399,225

  Retail

  $15,638,732

Location Insight

City

Norman

County

Cleveland

State

Oklahoma

Latitude

35.2459

Longitude

-97.4929

CBSA code

36420

CBSA name

OKLAHOMA CITY, OK METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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