35-Unit Townhome Apartment
For Sale
$6,900,000
164 NE 4th Avenue, Canby, OR 97013
Every residence is equipped with an in-unit washer and dryer.
Property Size40,716 SF
Price / SF$169.47
Days on Market8
Property Features for 164 NE 4th Avenue
General Information
Standard status
Active
Size
40,716 SF
Property subtype
Multi-family
Units
Unit Mix
34 x 2BR/1.5BA, 1 x 3BR/1.5BA
Multifamily Units
35
Amenities
in-unit washer and dryer
Building Details
Year Built
1968
Listing Agency:
Barry Investment Real Estate
Listed By:
Phillip Barry · License #200807134
(503) 546-9390
Source:
Century21northhomes
Added: Oct 12
Changed: Oct 16
Last Checked: Oct 19 at 9:14AM
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 Barry Investment Real Estate
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Investment Insights
Based on property information with market context.
This 35-unit apartment community in Canby, Oregon, consists of 34 two-bedroom, 1.5-bath townhomes and one three-bedroom, 1.5-bath townhome. The two-bedroom homes measure approximately 1,120 square feet, while the three-bedroom residence is approximately 1,220 square feet. Each unit has its own washer and dryer. The property was built in 1968 and includes vinyl windows.
Recent work includes exterior painting in 2025 and a roof replacement on one building in 2024. Individual units have also received upgrades during turnover or as needed. The property comprises five tax lots at 164 and 188 NE 4th Ave and 173–193 NE 5th Ave in Canby.
Recent work includes exterior painting in 2025 and a roof replacement on one building in 2024. Individual units have also received upgrades during turnover or as needed. The property comprises five tax lots at 164 and 188 NE 4th Ave and 173–193 NE 5th Ave in Canby.
Key Highlights
- 35‑unit apartment community in Canby, Oregon
- Unit mix includes 34 two‑bedroom/1.5‑bath homes and one three‑bedroom/1.5‑bath home
- Two‑bedroom homes are approximately 1,120 square feet; three‑bedroom home is approximately 1,220 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$522,792
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,455,840
$10.5M
Cap Rate 7%
$7,468,457
$7.5M
Cap Rate 9%
$5,808,800
$5.8M
Market Conditions
NOI Build-Up for 40,716 SF
Gross rent
$1.00M $24.60/SF
− Vacancy
−$51.1K −$1.25/SF
EGI
$950.5K $23.35/SF
− OpEx
−$427.7K −$10.51/SF
NOI
$522.8K $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 Rate 5%
$10,455,840
Cap Rate 7%
$7,468,457
Cap Rate 9%
$5,808,800
Alternative Uses
Best Use
Apartment 5plus
$7.47M
$6.53M – $8.71M
NOI $522,792 @ 7.0% cap · market cap 7.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.99M
$9.62M – $12.82M
NOI $769,317 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
35
Residential units
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
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Business Placement
Demographics for 97013, OR
24,512
Population
9,152
Households
2.7
Avg Household Size
41
Median Age
30%
College-Educated
88%
High-School Grad
58.9 sq mi
ZIP Area
416
Density / Sq Mi
$99,343
Median Household Income
$49,207
Median Earnings
$1,439
Median Rent
$509,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Every residence is equipped with an in-unit washer and dryer.
Where is this apartment building located?
The property is located at 164 NE 4th Avenue Canby, OR.
What is the asking price?
The asking price for this property is $6,900,000.
What are key features of this property?
This property features: 35‑unit apartment community in Canby, Oregon; Unit mix includes 34 two‑bedroom/1.5‑bath homes and one three‑bedroom/1.5‑bath home; Two‑bedroom homes are approximately 1,120 square feet; three‑bedroom home is approximately 1,220 square feet
