Multifamily Property with Fenced
For Sale
$1,190,000
115 NE A ST, Madras, OR 97741
Well-maintained multifamily asset with updated mini-split HVAC serving all units and direct access to outdoor space.
Property Size6,125 SF
Price / SF$194.29
Days on Market47
Property Features for 115 NE A ST
General Information
Standard status
Active
Size
6,125 SF
Property subtype
Multi-Family
Building Details
Year Built
1961
Listing Agency:
RE/MAX Integrity
(541) 345-8100
Listed By:
NW Pacific Realty
(503) 783-9401
Source:
Nwpacificrealty
Added: Sep 16
Changed: Oct 31
Last Checked: Nov 1 at 4:53AM
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 Integrity
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Investment Insights
Based on property information with market context.
This multifamily property offers 6,125 square feet of residential space in a building constructed in 1961. Recent improvements include mini-split HVAC systems installed throughout all units. The grounds include a grass backyard enclosed by fencing, providing shared outdoor space for residents.
Located at 115 NE A St in Madras, the property sits next to Sahalee Park, which features a splash park, playground equipment, a pavilion, and picnic areas. Schools, trails, and a bowling center are nearby, while shops, restaurants, banks, and other services are within walking distance.
Located at 115 NE A St in Madras, the property sits next to Sahalee Park, which features a splash park, playground equipment, a pavilion, and picnic areas. Schools, trails, and a bowling center are nearby, while shops, restaurants, banks, and other services are within walking distance.
Key Highlights
- 6,125‑square‑foot multifamily property built in 1961
- Recently added mini‑split HVAC systems in all units
- Fenced grass backyard provides shared outdoor space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,441
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,568,820
$1.6M
Cap Rate 7%
$1,120,586
$1.1M
Cap Rate 9%
$871,567
$871.6K
Market Conditions
NOI Build-Up for 6,125 SF
Gross rent
$154.4K $25.20/SF
− Vacancy
−$11.7K −$1.92/SF
EGI
$142.6K $23.28/SF
− OpEx
−$64.2K −$10.48/SF
NOI
$78.4K $12.81/SF
Area
Jefferson County, OR
Vacancy
7.60%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,568,820
Cap Rate 7%
$1,120,586
Cap Rate 9%
$871,567
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$980.5K – $1.31M
NOI $78,441 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,220 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
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Business Placement
Demographics for 97741, OR
13,753
Population
4,777
Households
2.9
Avg Household Size
39
Median Age
21%
College-Educated
86%
High-School Grad
363.9 sq mi
ZIP Area
38
Density / Sq Mi
$69,696
Median Household Income
$37,641
Median Earnings
$993
Median Rent
$308,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Well-maintained multifamily asset with updated mini-split HVAC serving all units and direct access to outdoor space.
Where is this multifamily property located?
The property is located at 115 NE A ST Madras, OR.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: 6,125‑square‑foot multifamily property built in 1961; Recently added mini‑split HVAC systems in all units; Fenced grass backyard provides shared outdoor space
