Triplex with Additional Conversion
For Sale
$399,000
110 W C St, Rainier, OR 97048
Income-producing triplex with two occupied apartments and a separate unfinished unit conversion.
Property Size2,596 SF
Price / SF$153.70
Days on Market36
Property Features for 110 W C St
General Information
Standard status
Active
Size
2,596 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
3
Building Details
Year Built
1975
Listing Agency:
RE/MAX Powerpros
(360) 430-1085
Listed By:
Dennis O'Brien · License #201228793
Source:
Evokepropertypartners
Added: Jul 26
Changed: Aug 28
Last Checked: Aug 29 at 12:09PM
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 RE/MAX Powerpros
Investment Insights
Based on property information with market context.
This 2,596-square-foot triplex, built in 1975, includes a duplex plus a detached third unit. The two duplex apartments each offer two bedrooms and one bathroom, and both are occupied by long-term tenants. The separate unit is an unfinished conversion of a former garage and includes a completed full bathroom, laundry hookups, and a refrigerator. The space is described as having capacity for a potential two-bedroom layout.
Recent property updates include a roof that is two years old and newer mini-split systems serving the duplex units. The owner pays water and sewer, while tenants are responsible for power and garbage. Located at 110 W C St in Rainier, Oregon, the property combines existing rental occupancy with additional unfinished space.
Recent property updates include a roof that is two years old and newer mini-split systems serving the duplex units. The owner pays water and sewer, while tenants are responsible for power and garbage. Located at 110 W C St in Rainier, Oregon, the property combines existing rental occupancy with additional unfinished space.
Key Highlights
- 2,596 SF triplex built in 1975
- Duplex contains two 2‑bedroom, 1‑bath apartments
- Both duplex units are occupied by long‑term tenants
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
$33,333
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
8.35%
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%
$666,660
$666.7K
Cap Rate 7%
$476,186
$476.2K
Cap Rate 9%
$370,367
$370.4K
Market Conditions
NOI Build-Up for 2,596 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
$63.9K $24.60/SF
− Vacancy
−$3.3K −$1.25/SF
EGI
$60.6K $23.35/SF
− OpEx
−$27.3K −$10.51/SF
NOI
$33.3K $12.84/SF
Area
Columbia 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%
$666,660
Cap Rate 7%
$476,186
Cap Rate 9%
$370,367
Alternative Uses
Best Use
Multifamily LT 5
$540.8K
$473.2K – $630.9K
NOI $37,853 @ 7.0% cap · market cap 9.49%
Second Best
Apartment 5plus
$476.2K
$416.7K – $555.6K
NOI $33,333 @ 7.0% cap · market cap 8.35%
Theoretical Best
Office A
$700.7K
$613.1K – $817.5K
NOI $49,051 @ 7.0% cap · market cap 12.29%
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
166
Businesses Nearby
Explore this area
Business Placement
Demographics for 97048, OR
6,965
Population
3,115
Households
2.2
Avg Household Size
48
Median Age
15%
College-Educated
92%
High-School Grad
97.8 sq mi
ZIP Area
71
Density / Sq Mi
$74,453
Median Household Income
$35,528
Median Earnings
$882
Median Rent
$364,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Income-producing triplex with two occupied apartments and a separate unfinished unit conversion.
Where is this triplex located?
The property is located at 110 W C St Rainier, OR.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,596 SF triplex built in 1975; Duplex contains two 2‑bedroom, 1‑bath apartments; Both duplex units are occupied by long‑term tenants
