Triplex with Park-View
For Sale
$599,900
308 HIGH St, Oregon City, OR 97045
MULTI_FAMILY - OregonCity, OR
Property Size3,174 SF
Lot Size0.08 Acres
Price / SF$189
Days on Market84
Property Features for 308 HIGH St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3.5
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 6, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 2, Bedroom 5, Bedroom 7
Subdivision
MCLOUGHLIN
Elementary school
Holcomb
Middle school
Gardiner
High school
Oregon City
Directions
From OR 99E, head east on 7th St, left on High St to property. DND tenants.
Standard status
Active
APN
00573828
Size
3,174 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
2 OREGON CITY PT LT 6 BLK 36
Tax Annual Amount
4074
Legal Description
2 OREGON CITY PT LT 6 BLK 36
Utilities
Heating system
Forced Air
Building Details
Year built
1905
Floors in Building
3
Number of units
3
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: May 21
Changed: Aug 12
Last Checked: Aug 12 at 11:06AM
MLS# 727175603
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-unit triplex was built in 1905 and is configured with one unit on each level. The home has forced-air heating and a composition roof. Recent improvements include exterior work completed in 2025: roof, siding, and gutter replacement; kitchen porch and porch roof replacement; dormer window repairs; select window replacement; porch rail repairs; and fencing repairs. Interior updates in 2025 include updated kitchen cabinets and appliances, lighting fixtures, bathroom updates, heating updates, plumbing repairs as needed, fresh paint, and attic finish work. The basement utility area also received updated electrical panels, furnaces, and water heaters. Street parking is available.
Set across from Promenade Park, the property offers views toward historic downtown Oregon City and Willamette Falls. Located at 308 High St in Oregon City (Clackamas County), the area includes walkable access to downtown amenities and commuter routes, with nearby attractions such as Main Street shops, river viewpoints, Willamette Falls views, and Clackamette Park.
Zoned R3.5, this property presents an owner-occupant or investor option in an established income setting. Buyer to verify all property details, unit configuration, rents, expenses, square footage, zoning, legal use, and future potential.
Set across from Promenade Park, the property offers views toward historic downtown Oregon City and Willamette Falls. Located at 308 High St in Oregon City (Clackamas County), the area includes walkable access to downtown amenities and commuter routes, with nearby attractions such as Main Street shops, river viewpoints, Willamette Falls views, and Clackamette Park.
Zoned R3.5, this property presents an owner-occupant or investor option in an established income setting. Buyer to verify all property details, unit configuration, rents, expenses, square footage, zoning, legal use, and future potential.
Key Highlights
- 0.08‑acre triplex lot with 3,174 SF total building size
- Built in 1905 with one unit on each level
- R3.5 zoning and forced‑air heating
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,754
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$815,080
$815.1K
Cap Rate 7%
$582,200
$582.2K
Cap Rate 9%
$452,822
$452.8K
Market Conditions
NOI Build-Up for 3,174 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$78.1K $24.60/SF
− Vacancy
−$4.0K −$1.25/SF
EGI
$74.1K $23.35/SF
− OpEx
−$33.3K −$10.51/SF
NOI
$40.8K $12.84/SF
Area
Clackamas County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$815,080
Cap Rate 7%
$582,200
Cap Rate 9%
$452,822
Alternative Uses
Best Use
Apartment 5plus
$582.2K
$509.4K – $679.2K
NOI $40,754 @ 7.0% cap · market cap 6.79%
Second Best
Multifamily LT 5
$569.6K
$498.4K – $664.5K
NOI $39,869 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$856.7K
$749.7K – $999.5K
NOI $59,972 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,316
Businesses Nearby
Explore this area
Business Placement
Demographics for 97045, OR
57,403
Population
21,702
Households
2.6
Avg Household Size
41
Median Age
33%
College-Educated
95%
High-School Grad
86.8 sq mi
ZIP Area
661
Density / Sq Mi
$100,388
Median Household Income
$49,342
Median Earnings
$1,600
Median Rent
$563,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit triplex in R3.5 zoning with forced-air heating and extensive exterior and interior updates completed in 2025.
Where is this triplex located?
The property is located at 308 HIGH St Oregon City, OR.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 0.08‑acre triplex lot with 3,174 SF total building size; Built in 1905 with one unit on each level; R3.5 zoning and forced‑air heating
