Mixed-Use Corner Triplex with
1492 PEARL St Eugene, OR 97401
New
For Sale
$539,000
MULTI_FAMILY - Eugene, OR
Property Size2,084 SF
Lot Size0.09 Acres
Price / SF$258.64
Days on Market2
Property Features for 1492 PEARL St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C2
Bedrooms
4
Bathrooms
3
Rooms
Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 1
Standard status
Active
APN
0275576
Size
2,084 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
Map & Taxlot # 17-03-31-44-01700; Tax Account# 0275576 a
Tax Annual Amount
5029
Utilities
Heating system
Zoned, Baseboard
Cooling system
Window Unit(s)
Building Details
Year built
1920
Floors in Building
2
Number of units
3
Roof type
Composition
Listing Agency:
Windermere RE Lane County
(541) 484-2022
Listed By:
Koalani Roberts
(541) 501-8319
Added: Jul 28
Changed: Jul 29
Last Checked: Jul 29 at 8:06AM
MLS# 321708704
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use corner triplex features a bright upper-level 2-bedroom, 1-bath apartment and two commercial spaces on the lower level. The apartment includes a full kitchen with tile counters and newer appliances, washer/dryer, updated flooring, skylights, and a walk-in shower. The two below-grade commercial spaces each have a covered front porch, wood floors, kitchen, 1.5 baths, and lots of windows, with good flow between areas.
The property is located on a bus line along Pearl St in Eugene and benefits from a mid-city setting. It also offers off-street parking with three spaces and ample on-street parking.
Recent improvements include a newer roof, interior paint, updated electric, two water heaters, automatic sprinklers, and a newer sewer line. Electricity is metered separately with three meters for the tenants, while the owner pays water with one meter. The commercial business is not for sale; only the property is being offered, and tenants are currently operating and must not be disturbed.
The property is located on a bus line along Pearl St in Eugene and benefits from a mid-city setting. It also offers off-street parking with three spaces and ample on-street parking.
Recent improvements include a newer roof, interior paint, updated electric, two water heaters, automatic sprinklers, and a newer sewer line. Electricity is metered separately with three meters for the tenants, while the owner pays water with one meter. The commercial business is not for sale; only the property is being offered, and tenants are currently operating and must not be disturbed.
Key Highlights
- Corner lot vintage craftsman (built 1920) with flexible C2 zoning for commercial and mixed live‑work uses
- Upper level: bright 2 BR/1 BA newly renovated apartment with full kitchen (tile counters), newer appliances, washer/dryer, new flooring, skylights, and walk‑in shower
- Two commercial spaces below with covered front porches, wood floors, kitchens, and 1.5 baths; currently rented to a tenant salon business
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.0k | $24.00 |
| − Vacancy | −$7.5k | −$3.60 |
| EGI | $42.5k | $20.40 |
| − OpEx | −$10.6k | −$5.10 |
| NOI | $31.9k | $15.30 |
2,084 SF · lease $24.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$455.5K
$398.6K – $531.4K
NOI $31,885 @ 7.0% cap · market cap 5.92%
Second Best
Mixed Use
$442.1K
$386.8K – $515.8K
NOI $30,947 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$628.8K
$550.2K – $733.6K
NOI $44,014 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Corner lot triplex with upper residential unit and two leased commercial spaces, plus off-street parking.
Where is this triplex located?
The property is located at 1492 PEARL St Eugene, OR.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: Corner lot vintage craftsman (built 1920) with flexible C2 zoning for commercial and mixed live‑work uses; Upper level: bright 2 BR/1 BA newly renovated apartment with full kitchen (tile counters), newer appliances, washer/dryer, new flooring, skylights, and walk‑in shower; Two commercial spaces below with covered front porches, wood floors, kitchens, and 1.5 baths; currently rented to a tenant salon business
