Updated Multifamily
For Sale
$1,200,000
1300 6TH St Unit 1300, Umatilla, OR 97882
Fully leased multifamily asset with renovated units, a newer roof, and wall-mounted air conditioning.
Property Size25,564 SF
Price / SF$46.94
Days on Market394
Property Features for 1300 6TH St Unit 1300
General Information
Standard status
Active
Size
25,564 SF
Property subtype
Multi-Family
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$2,065
Amenities
Wall Air Conditioning
3
Metal, Heavy Composition
C3
Gravel Road, Paved Road.
Building Details
Year Built
1979
Listing Agency:
Clark Jennings & Asso. OR, LLC
(541) 377-7787
Listed By:
Milne Purchase McLaughlin
(541) 377-7787
Source:
Xome
Added: Aug 2, 2025
Changed: Aug 29
Last Checked: Aug 30 at 1:56PM
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 Clark Jennings & Asso. OR, LLC
Investment Insights
Based on property information with market context.
This 25,564 SF multifamily property in Umatilla was built in 1979 and is fully leased. Each unit has received remodeling and updates, while the building has new exterior paint and a new roof. Wall air conditioning is included, and the roof materials are identified as metal and heavy composition.
The property is addressed at 1300 6TH St Unit 1300 and includes access from both gravel and paved roads. C3 zoning is identified in the property information, providing an additional land-use detail for review.
The property is addressed at 1300 6TH St Unit 1300 and includes access from both gravel and paved roads. C3 zoning is identified in the property information, providing an additional land-use detail for review.
Key Highlights
- 25,564 SF multifamily property built in 1979
- Fully leased property
- Remodeling and updates completed in each unit
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
$109,838
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
9.15%
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%
$2,196,760
$2.2M
Cap Rate 7%
$1,569,114
$1.6M
Cap Rate 9%
$1,220,422
$1.2M
Market Conditions
NOI Build-Up for 25,564 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
$214.7K $8.40/SF
− Vacancy
−$15.0K −$0.59/SF
EGI
$199.7K $7.81/SF
− OpEx
−$89.9K −$3.52/SF
NOI
$109.8K $4.30/SF
Area
Umatilla County, OR
Vacancy
7.00%
Lease Rate
$8.40 /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%
$2,196,760
Cap Rate 7%
$1,569,114
Cap Rate 9%
$1,220,422
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,838 @ 7.0% cap · market cap 9.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.35M
$4.68M – $6.24M
NOI $374,601 @ 7.0% cap · market cap 31.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Explore this area
Business Placement
Demographics for 97882, OR
8,271
Population
2,450
Households
3.4
Avg Household Size
34
Median Age
12%
College-Educated
84%
High-School Grad
18.8 sq mi
ZIP Area
440
Density / Sq Mi
$60,474
Median Household Income
$37,997
Median Earnings
$1,072
Median Rent
$192,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Fully leased multifamily asset with renovated units, a newer roof, and wall-mounted air conditioning.
Where is this multifamily property located?
The property is located at 1300 6TH St Unit 1300 Umatilla, OR.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 25,564 SF multifamily property built in 1979; Fully leased property; Remodeling and updates completed in each unit
