Eight-Unit Apartment
For Sale
$1,300,000
Pending
851 W 5TH AVE, Eugene, OR 97402
Eight two-story units offer two-bedroom, one-bath floorplans with private patios or balconies and on-site laundry.
Property Size5,184 SF
Days on Market619
Property Features for 851 W 5TH AVE
General Information
Standard status
Pending
Size
5,184 SF
Property subtype
MULTI_FAMILY
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$9,351
Amenities
private patios/balconies
luxury vinyl plank flooring
assigned off-street parking space
on-site laundry
Building Details
Year Built
1968
Stories
2
Tenancy
Multi
Listing Agency:
Bridge Creek Realty
Listed By:
Ian Crist · License #201220465
(503) 508-0131
Source:
Worthlandrealestate
Added: Jan 29, 2025
Changed: Oct 9
Last Checked: Oct 10 at 3:00AM
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 Bridge Creek Realty
Investment Insights
Based on property information with market context.
The Rickshaw Apartments is an eight-unit, two-story residential income property originally constructed in 1968. The building totals 5,184 rentable square feet and features two-bed, one-bath floorplans exclusively. Unit amenities include private patios or balconies, with luxury vinyl plank flooring throughout. The property also provides assigned off-street parking and includes on-site laundry. Recent improvements include new exterior paint, updated hickory cabinets, and updated bathrooms.
The property is located at 851 W 5th Ave in Eugene, Oregon. It sits in the southern portion of the Willamette Valley, with convenient walking access to Downtown Eugene’s craft breweries, coffee houses, wine bars, artisanal restaurants, and boutique retail shops.
From a layout and finishes standpoint, the property is configured as a consistent two-bedroom community, with exterior and interior updates designed to support ongoing day-to-day tenancy.
The property is located at 851 W 5th Ave in Eugene, Oregon. It sits in the southern portion of the Willamette Valley, with convenient walking access to Downtown Eugene’s craft breweries, coffee houses, wine bars, artisanal restaurants, and boutique retail shops.
From a layout and finishes standpoint, the property is configured as a consistent two-bedroom community, with exterior and interior updates designed to support ongoing day-to-day tenancy.
Key Highlights
- Eight‑unit, two‑story apartment complex at 851 W 5th Ave, Eugene, OR (97402).
- Originally constructed in 1968 and totals 5,184 rentable SF.
- All units feature 2‑bedroom, 1‑bath floorplans.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,565
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$811,300
$811.3K
Cap Rate 7%
$579,500
$579.5K
Cap Rate 9%
$450,722
$450.7K
Market Conditions
NOI Build-Up for 5,184 SF
Gross rent
$74.6K $14.40/SF
− Vacancy
−$896 −$0.17/SF
EGI
$73.8K $14.23/SF
− OpEx
−$33.2K −$6.40/SF
NOI
$40.6K $7.82/SF
Area
Eugene, OR
Vacancy
1.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$811,300
Cap Rate 7%
$579,500
Cap Rate 9%
$450,722
Alternative Uses
Best Use
Apartment 5plus
$579.5K
$507.1K – $676.1K
NOI $40,565 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,486 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,862
Businesses Nearby
Explore this area
Business Placement
Demographics for 97402, OR
56,610
Population
23,882
Households
2.4
Avg Household Size
38
Median Age
26%
College-Educated
91%
High-School Grad
68.6 sq mi
ZIP Area
825
Density / Sq Mi
$55,743
Median Household Income
$35,728
Median Earnings
$1,287
Median Rent
$330,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight two-story units offer two-bedroom, one-bath floorplans with private patios or balconies and on-site laundry.
Where is this apartment building located?
The property is located at 851 W 5TH AVE Eugene, OR.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Eight‑unit, two‑story apartment complex at 851 W 5th Ave, Eugene, OR (97402).; Originally constructed in 1968 and totals 5,184 rentable SF.; All units feature 2‑bedroom, 1‑bath floorplans.
