42-Unit Apartment
For Sale
Contact for pricing
1546 Willamette Street, Eugene, OR 97401
Four Eugene properties combine varied apartment layouts, off-street parking, and laundry facilities across multiple locations.
Property Size22,212 SF
Price / SF$168.83
Days on Market10
Property Features for 1546 Willamette Street
General Information
Standard status
Active
Size
22,212 SF
Total Parking Spaces
32
Property subtype
Multifamily
Occupancy
94%
Investment Type
Value Add
Net Operating Income
$275,335
Additional Details
Multifamily Units
42
Amenities
on-site laundry
Building Details
Buildings
10
Units
42
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Portland
Listed By:
Georgie Christensen-Riley · License #201253912
Source:
Crexi
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 11 at 6:36PM
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 Marcus & Millichap - Portland
Investment Insights
Based on property information with market context.
This Eugene apartment portfolio comprises 42 units across four separate properties, with construction dates ranging from 1898 to 1978. The holdings include studios, one-bedroom apartments, two-bedroom units, SRO-style accommodations, and a three-bedroom single-family residence. Building sizes and configurations vary, from a 968-square-foot structure to a 2,860-square-foot three-story house, with additional office, storage, garage, and community-laundry components.
The Willamette Street and Willamette Alley properties contain 17 units plus an office and provide 10 off-street parking spaces. The Washington Street and W. 10th Avenue location includes six units and six parking spaces. The W. 11th Alley and W. 11th Avenue site offers 12 units with five parking spaces, while the Roosevelt Boulevard property includes seven units and 11 parking spaces. On-site laundry is available at several locations, including ground-floor and community facilities.
The Willamette Street and Willamette Alley properties contain 17 units plus an office and provide 10 off-street parking spaces. The Washington Street and W. 10th Avenue location includes six units and six parking spaces. The W. 11th Alley and W. 11th Avenue site offers 12 units with five parking spaces, while the Roosevelt Boulevard property includes seven units and 11 parking spaces. On-site laundry is available at several locations, including ground-floor and community facilities.
Key Highlights
- 42 units across four Eugene properties
- Unit mix includes studios, one-, two-, and three‑bedroom residences plus SRO‑style units
- Construction dates range from 1898 to 1978
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
$173,808
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
4.63%
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%
$3,476,160
$3.5M
Cap Rate 7%
$2,482,971
$2.5M
Cap Rate 9%
$1,931,200
$1.9M
Market Conditions
NOI Build-Up for 22,212 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
$319.9K $14.40/SF
− Vacancy
−$3.8K −$0.17/SF
EGI
$316.0K $14.23/SF
− OpEx
−$142.2K −$6.40/SF
NOI
$173.8K $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 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%
$3,476,160
Cap Rate 7%
$2,482,971
Cap Rate 9%
$1,931,200
Alternative Uses
Best Use
Apartment 5plus
$2.48M
$2.17M – $2.90M
NOI $173,808 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.70M
$5.86M – $7.82M
NOI $469,117 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
42
Residential units
Location Intelligence
Trade Area within ½ mile
4,505
Businesses Nearby
Explore this area
Business Placement
Demographics for 97401, OR
45,634
Population
24,220
Households
1.9
Avg Household Size
32
Median Age
47%
College-Educated
96%
High-School Grad
9.3 sq mi
ZIP Area
4,907
Density / Sq Mi
$51,244
Median Household Income
$26,604
Median Earnings
$1,318
Median Rent
$472,200
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?
Apartment building - Four Eugene properties combine varied apartment layouts, off-street parking, and laundry facilities across multiple locations.
Where is this apartment building located?
The property is located at 1546 Willamette Street Eugene, OR.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 42 units across four Eugene properties; Unit mix includes studios, one-, two-, and three‑bedroom residences plus SRO‑style units; Construction dates range from 1898 to 1978
