101-124 S Cherokee Ave - Apartments FOR SALE


Dewey, OK 74029 | 
$1,200,000 USD
918-899-9197
101-124 S Cherokee Ave, Dewey, OK for Sale
$1,200,000 USD
Apartments - FOR SALE
1/7
null | 6.95% Cap Rate

101-124 S Cherokee Ave
Dewey, OK 74029


HIGHLIGHTS

  • Rare opportunity to acquire a newer construction multifamily portfolio in Washington County.
  • Twelve units across six duplexes, all built in 2011 with brick veneer exteriors.
  • Three bedroom, two bathroom units averaging approximately 1,070 SF with strong tenant demand.
  • Four units include a single car garage, offering rent premium potential.
  • Priced at $100,000 per unit, well below replacement cost.

OVERVIEW

121 South Cherokee Avenue presents an opportunity to acquire a newer construction multifamily asset in Washington County consisting of six brick veneer duplexes with a total of 12 residential units. Built in 2011, the property offers a housing product that appeals to long-term renters through functional three-bedroom, two-bathroom floor plans. Four units also include attached single-car garages, providing an additional amenity that can support tenant retention and leasing appeal. The property is situated on approximately 1.32 acres with frontage along Bartles Road, South Cherokee Avenue, and East Angus Avenue, creating multiple points of visibility and access for residents. Its location within Dewey provides convenient connectivity to downtown Dewey while also offering quick access to the employment, retail, dining, and service amenities of nearby Bartlesville. This regional accessibility broadens the property's tenant base and supports ongoing residential demand from households seeking proximity to area employers and everyday conveniences. The combination of newer construction, low-density site design, and family-oriented unit layouts positions the asset as a stable multifamily investment opportunity. With 12 units distributed across six duplex buildings, the property benefits from a residential scale that can appeal to investors seeking a manageable multifamily portfolio in a growing northeastern Oklahoma market. The property's street frontage, established residential setting, and durable brick exterior construction further contribute to its long-term ownership appeal.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$93 USD /SF

# OF UNITS

12

PRICE/UNIT

$100,000

CAP RATE

6.95%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dewey Duplex Portfolio

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2011

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.32 AC

LAND SF

57,499 SF

ZONING

-

APN/PARCEL ID

050999-292713-000000-01

ASK ABOUT THIS PROPERTY

Matthew GrayMCP / McGraw Commercial PropertiesMore Info
918-899-9197

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Matthew GrayMCP / McGraw Commercial PropertiesMore Info
918-899-9197

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.