Six-Unit Apartment
New
For Sale
$800,000
1704 NE Fairview Ave, Grants Pass, OR 97526
Six residential units offer two-bedroom layouts, one-bath configurations, and covered parking in a multifamily setting.
Property Size6,435 SF
Price / SF$124.32
Days on Market7
Property Features for 1704 NE Fairview Ave
General Information
Standard status
Active
Size
6,435 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Additional Details
Cap Rate
6.9%
Amenities
covered parking
Building Details
Year Built
1978
Listing Agency:
Realty Net Of Central Oregon
Listed By:
Strategic Realty, LLC
(541) 595-8444
Source:
Movetobend
Added: Sep 11
Changed: Sep 15
Last Checked: Sep 16 at 5:41PM
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 Realty Net Of Central Oregon
Investment Insights
Based on property information with market context.
This 6,435-square-foot apartment property contains six units, each configured with two bedrooms and one bathroom. Covered parking serves the residences, while mini-split systems were added in 2025. The property was built in 1978 and also features newer roofing and scheduled exterior painting in 2026.
Reported occupancy has remained at 100% for years. The property operates at a 6.9% cap rate and is positioned near shopping centers, dining options, and regional medical facilities. Current rents are described as near market averages, with potential for modest rental growth.
Reported occupancy has remained at 100% for years. The property operates at a 6.9% cap rate and is positioned near shopping centers, dining options, and regional medical facilities. Current rents are described as near market averages, with potential for modest rental growth.
Key Highlights
- Six units with a 2‑bedroom, 1‑bathroom layout
- 6,435‑square‑foot apartment property built in 1978
- 100% occupied for years
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
$48,519
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
6.06%
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%
$970,380
$970.4K
Cap Rate 7%
$693,129
$693.1K
Cap Rate 9%
$539,100
$539.1K
Market Conditions
NOI Build-Up for 6,435 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
$92.7K $14.40/SF
− Vacancy
−$4.4K −$0.69/SF
EGI
$88.2K $13.71/SF
− OpEx
−$39.7K −$6.17/SF
NOI
$48.5K $7.54/SF
Area
Josephine County, OR
Vacancy
4.80%
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%
$970,380
Cap Rate 7%
$693,129
Cap Rate 9%
$539,100
Alternative Uses
Best Use
Apartment 5plus
$693.1K
$606.5K – $808.7K
NOI $48,519 @ 7.0% cap · market cap 6.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,134 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
744
Businesses Nearby
Explore this area
Business Placement
Demographics for 97526, OR
36,561
Population
15,987
Households
2.3
Avg Household Size
47
Median Age
20%
College-Educated
91%
High-School Grad
140.7 sq mi
ZIP Area
260
Density / Sq Mi
$57,103
Median Household Income
$35,685
Median Earnings
$1,076
Median Rent
$379,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Six residential units offer two-bedroom layouts, one-bath configurations, and covered parking in a multifamily setting.
Where is this apartment building located?
The property is located at 1704 NE Fairview Ave Grants Pass, OR.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Six units with a 2‑bedroom, 1‑bathroom layout; 6,435‑square‑foot apartment property built in 1978; 100% occupied for years
