Multifamily Property with
For Sale
$999,900
17014 SE WILEY WAY, Milwaukie, OR 97267
Updated residence with a permitted accessory dwelling unit, private river access, and flexible space for guests or extended living.
Property Size2,200 SF
Days on Market129
Property Features for 17014 SE WILEY WAY
General Information
Standard status
Active
Size
2,200 SF
Property subtype
MULTI_FAMILY
Additional Details
Asking Price
$999,900
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,317
Amenities
private river access
covered patio
pergola
landscaped yard
workshop shed
RV parking
Building Details
Building Size
2,200 SF
Year Built
1965
Listing Agency:
KOR Realty
Listed By:
Korrie Hicks
(503) 680-4371
Source:
Eleeterealestate
Added: Jun 9
Changed: Oct 13
Last Checked: Oct 13 at 1:28AM
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 KOR Realty
Investment Insights
Based on property information with market context.
Originally built in 1965, this updated multifamily property includes a fully permitted accessory dwelling unit with a full bathroom and separate systems. Interior improvements include a remodeled kitchen with stainless steel appliances, refinished hardwood floors, updated lighting, custom window coverings, remodeled bathrooms, and a fireplace with insert. Major system updates include the roof, plumbing, electrical panel, HVAC with A/C, and water heater.
The property also includes deeded private access to the Willamette River. Exterior features include stamped concrete, a covered patio, pergola, landscaped grounds, RV parking, a workshop shed, and a hot tub hookup. The configuration supports multi-generational living, guest accommodations, or rental use, subject to verification of zoning, rental regulations, development potential, and permitted uses.
The property also includes deeded private access to the Willamette River. Exterior features include stamped concrete, a covered patio, pergola, landscaped grounds, RV parking, a workshop shed, and a hot tub hookup. The configuration supports multi-generational living, guest accommodations, or rental use, subject to verification of zoning, rental regulations, development potential, and permitted uses.
Key Highlights
- Fully permitted ADU with full bath and separate systems
- Private deeded access to the Willamette River
- Remodeled kitchen, bathrooms, hardwood floors, and lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,248
Cap Rate
2.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$564,960
$565.0K
Cap Rate 7%
$403,543
$403.5K
Cap Rate 9%
$313,867
$313.9K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$54.1K $24.60/SF
− Vacancy
−$2.8K −$1.25/SF
EGI
$51.4K $23.35/SF
− OpEx
−$23.1K −$10.51/SF
NOI
$28.2K $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%
$564,960
Cap Rate 7%
$403,543
Cap Rate 9%
$313,867
Alternative Uses
Best Use
Apartment 5plus
$403.5K
$353.1K – $470.8K
NOI $28,248 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$593.8K
$519.6K – $692.8K
NOI $41,568 @ 7.0% cap · market cap 4.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
Explore this area
Business Placement
Demographics for 97267, OR
31,851
Population
12,983
Households
2.5
Avg Household Size
45
Median Age
35%
College-Educated
93%
High-School Grad
7.2 sq mi
ZIP Area
4,424
Density / Sq Mi
$85,178
Median Household Income
$47,236
Median Earnings
$1,607
Median Rent
$489,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Updated residence with a permitted accessory dwelling unit, private river access, and flexible space for guests or extended living.
Where is this multifamily property located?
The property is located at 17014 SE WILEY WAY Milwaukie, OR.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Fully permitted ADU with full bath and separate systems; Private deeded access to the Willamette River; Remodeled kitchen, bathrooms, hardwood floors, and lighting
