Fourplex with Two-Bedroom
80-86 Boatlanding St Independence, OR 97351
New
For Sale
$814,900
MULTI_FAMILY - Independence, OR
Property Size3,384 SF
Lot Size0.20 Acres
Price / SF$240.81
Days on Market7
Property Features for 80-86 Boatlanding St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RH
Bedrooms
8
Bathrooms
4
Rooms
Bathroom 2, Bedroom 2, Bedroom 8, Bedroom 5, Bedroom 7, Bathroom 1, Bedroom 1, Bathroom 4, Bathroom 3, Bedroom 3, Bedroom 6, Bedroom 4
Standard status
Active
APN
202266
Size
3,384 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
6374
Utilities
Heating system
Wall Furnace, Electric (Heating), Ductless (Heating)
Building Details
Year built
2003
Number of units
4
Flooring type
Vinyl, Carpet
Roof type
Composition
Listing Agency:
HOMESMART REALTY GROUP
(971) 599-5865
Listed By:
BRIAN SMITH
(503) 551-8510
Added: Jul 24
Changed: Jul 26
Last Checked: Jul 30 at 1:06AM
MLS# 843874
Copyright © 2026 Willamette Valley Multiple Listing Service. 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 well-maintained fourplex includes four separate units, each with 2 bedrooms and 1 bathroom. Washer/dryer hookups are provided in each unit, and the property features low-maintenance landscaping along with ample parking.
The building is located in Independence, Oregon at 80-86 Boatlanding St (97351), just a few blocks from historic downtown. The public remarks also note convenience to Hwy 22, Western Oregon University, and Salem.
According to the listing, the property has a strong rental history and low vacancy, with two units currently rented slightly below market rates.
The building is located in Independence, Oregon at 80-86 Boatlanding St (97351), just a few blocks from historic downtown. The public remarks also note convenience to Hwy 22, Western Oregon University, and Salem.
According to the listing, the property has a strong rental history and low vacancy, with two units currently rented slightly below market rates.
Key Highlights
- Fourplex built in 2003 with each unit featuring 2 bedrooms and 1 bathroom
- Washer/dryer hookups available in each unit
- Heating includes wall furnace, electric heating, and ductless heating options
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.1k | $18.36 |
| − Vacancy | −$4.1k | −$1.20 |
| EGI | $58.1k | $17.16 |
| − OpEx | −$17.4k | −$5.15 |
| NOI | $40.6k | $12.01 |
3,384 SF · lease $18.36/SF/yr · vacancy 6.55% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$580.6K
$508.0K – $677.4K
NOI $40,642 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$534.7K
$467.9K – $623.8K
NOI $37,428 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$898.5K
$786.2K – $1.05M
NOI $62,894 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained fourplex offering four 2-bedroom, 1-bath units with washer/dryer hookups and ample parking.
Where is this quadplex located?
The property is located at 80-86 Boatlanding St Independence, OR.
What is the asking price?
The asking price for this property is $814,900.
What are key features of this property?
This property features: Fourplex built in 2003 with each unit featuring 2 bedrooms and 1 bathroom; Washer/dryer hookups available in each unit; Heating includes wall furnace, electric heating, and ductless heating options
