10-Unit Apartment
110 S 7th St, Carlton, OR 97111
For Sale
$2,500,000
Each residence has two bedrooms, two bathrooms, mini-split heating and cooling, and in-unit laundry.
Property Size9,502 SF
Price / SF$263.10
Days on Market53
Property Features for 110 S 7th St
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Amenities
in-unit laundry
Building Details
Building Size
Year Built
Units
Listing Agency:
Coldwell Bnkr/Commercial Div
(503) 588-3508
Listed By:
Alex Rhoten · License OR #841000042
(503) 587-4777
Source:
Horsepowerrealestateproperties
Added: Sep 22
Changed: Nov 11
Last Checked: Nov 13 at 4:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Bnkr/Commercial Div
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 10-unit apartment property in Carlton contains 9,502 square feet and was built in 2023. The units share a two-bedroom, two-bathroom layout, with mini-split heating and air conditioning and laundry inside each residence. The property is zoned R2.
McMinnville is about a 15-minute drive away, while Portland is approximately 40 miles northeast. The Carlton setting provides access to these larger cities while remaining within Yamhill County.
McMinnville is about a 15-minute drive away, while Portland is approximately 40 miles northeast. The Carlton setting provides access to these larger cities while remaining within Yamhill County.
Key Highlights
- 10 apartments, each configured with 2 bedrooms and 2 bathrooms
- 9,502 square feet; built in 2023
- Mini‑split heating and AC in every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,005
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,440,100
$2.4M
Cap Rate 7%
$1,742,929
$1.7M
Cap Rate 9%
$1,355,611
$1.4M
Market Conditions
NOI Build-Up for 9,502 SF
Gross rent
$233.7K $24.60/SF
− Vacancy
−$11.9K −$1.25/SF
EGI
$221.8K $23.35/SF
− OpEx
−$99.8K −$10.51/SF
NOI
$122.0K $12.84/SF
Area
Yamhill 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 Rate 5%
$2,440,100
Cap Rate 7%
$1,742,929
Cap Rate 9%
$1,355,611
Alternative Uses
Best Use
Apartment 5plus
$1.74M
$1.53M – $2.03M
NOI $122,005 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.56M
$2.24M – $2.99M
NOI $179,538 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Explore this area
Business Placement
Demographics for 97111, OR
3,435
Population
1,609
Households
2.1
Avg Household Size
41
Median Age
23%
College-Educated
91%
High-School Grad
38.0 sq mi
ZIP Area
90
Density / Sq Mi
$95,121
Median Household Income
$55,890
Median Earnings
$1,744
Median Rent
$472,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Each residence has two bedrooms, two bathrooms, mini-split heating and cooling, and in-unit laundry.
Where is this apartment building located?
The property is located at 110 S 7th St Carlton, OR.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 10 apartments, each configured with 2 bedrooms and 2 bathrooms; 9,502 square feet; built in 2023; Mini‑split heating and AC in every unit
