Description
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 unitsgas range and refrigerator in each unitFully leased with immediate cash flowSeparately metered unitslarge basementmock fireplace in one unitPrime location near the University of OklahomaConsistent student and workforce rental demandLow-maintenance multifamily investment opportunityStrong 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.
Details
| MLS # | 1235463 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1930 |
| Days On Site | 109 |
| Listing Provided By | RJH Realty Investments Inc | Rudy Hymer |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 2,548 |
| Story(s) | 2 |
Interior
| Heating | Panel Ray |
|---|---|
| Fireplaces Total | 1 |
| Appliances | Refrigerator |
Exterior
| Lot Features | Campus Area, Interior Lot |
|---|---|
| Foundation Details | Conventional |
Parking
| Parking Features | Backyard |
|---|
Taxes
| Okc Tax Amount | 3297.0000 |
|---|---|
| Tax Block | 1 |
| Tax Lot | 2 |
Area Information
| State | OK |
|---|---|
| County | Cleveland |
| City | Norman |
| Zip Code | 73069 |
| School District | Cleveland |
| School District | Norman HS |
| Elementary School | Mckinley ES |
| High School | Norman HS |
| Listing VS Median (in 73069) | |
Price: $495,000 low | high Med: $271,950 sqft: 2,548 low | high Med: 1,475 $ / sqft: $194 low | high Med: $189 On site: 109 low | high Med: 197 | |
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Learn More About This Property
| State | OK |
|---|---|
| County | Cleveland |
| City | Norman |
| Zip Code | 73069 |
| School District | Cleveland |
| School District | Norman HS |
| Elementary School | Mckinley ES |
| High School | Norman HS |
| Listing VS Median (in 73069) | |
Price: $495,000 low | high Med: $271,950 sqft: 2,548 low | high Med: 1,475 $ / sqft: $194 low | high Med: $189 On site: 109 low | high Med: 197 | |
