Triplex with Mountain
For Sale
$950,000
2088 Oak St, West Linn, OR 97068
Three-unit property with flexible living arrangements, outdoor areas, off-street parking, and attached lower-level storage.
Property Size3,154 SF
Price / SF$301.20
Days on Market34
Property Features for 2088 Oak St
General Information
Standard status
Active
Size
3,154 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Amenities
covered patio
carport
off-street parking
Building Details
Year Built
1948
Listing Agency:
Premiere Property Group, LLC
(503) 858-7643
Listed By:
John McPherson · License #201213231
Source:
Foxrealestategroups
Added: Jul 28
Changed: Aug 29
Last Checked: Aug 25 at 5:09AM
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 Premiere Property Group, LLC
Investment Insights
Based on property information with market context.
Built in 1948, this 3,154-square-foot triplex includes three residential units arranged across multiple levels. The ground-floor unit opens through a sliding glass door to the side and rear yards and a covered patio. A second-floor unit offers 2 bedrooms and 1 bathroom, while another portion of the third unit includes an upstairs suite. The property also includes a carport with attached lower-level storage and off-street parking.
Positioned on a corner lot in the hills above the Willamette River, the property has views toward the east and southeast, including Mount Hood. Its layout supports continued triplex use, multigenerational living, owner occupancy with additional units, or conversion back to a single-family residence, as described in the property information. The address is 2088 Oak St, West Linn, OR 97068.
Positioned on a corner lot in the hills above the Willamette River, the property has views toward the east and southeast, including Mount Hood. Its layout supports continued triplex use, multigenerational living, owner occupancy with additional units, or conversion back to a single-family residence, as described in the property information. The address is 2088 Oak St, West Linn, OR 97068.
Key Highlights
- 3,154‑square‑foot triplex built in 1948
- Second‑floor unit includes 2 bedrooms and 1 bathroom
- Views toward the east and southeast, including Mount Hood
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
$40,497
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
4.26%
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%
$809,940
$809.9K
Cap Rate 7%
$578,529
$578.5K
Cap Rate 9%
$449,967
$450.0K
Market Conditions
NOI Build-Up for 3,154 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
$77.6K $24.60/SF
− Vacancy
−$4.0K −$1.25/SF
EGI
$73.6K $23.35/SF
− OpEx
−$33.1K −$10.51/SF
NOI
$40.5K $12.84/SF
Area
Clackamas 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%
$809,940
Cap Rate 7%
$578,529
Cap Rate 9%
$449,967
Alternative Uses
Best Use
Apartment 5plus
$578.5K
$506.2K – $675.0K
NOI $40,497 @ 7.0% cap · market cap 4.26%
Second Best
Multifamily LT 5
$566.0K
$495.2K – $660.3K
NOI $39,618 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$851.3K
$744.9K – $993.2K
NOI $59,594 @ 7.0% cap · market cap 6.27%
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
233
Businesses Nearby
Explore this area
Business Placement
Demographics for 97068, OR
30,712
Population
11,656
Households
2.6
Avg Household Size
43
Median Age
63%
College-Educated
98%
High-School Grad
22.4 sq mi
ZIP Area
1,371
Density / Sq Mi
$145,877
Median Household Income
$65,674
Median Earnings
$1,994
Median Rent
$760,900
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 - Three-unit property with flexible living arrangements, outdoor areas, off-street parking, and attached lower-level storage.
Where is this triplex located?
The property is located at 2088 Oak St West Linn, OR.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 3,154‑square‑foot triplex built in 1948; Second‑floor unit includes 2 bedrooms and 1 bathroom; Views toward the east and southeast, including Mount Hood
