32-Unit Courtyard Apartment
New
For Sale
$5,250,000
171 SE Uglow St, Dallas, OR 97338
Eight courtyard-style buildings offer a mix of two- and three-bedroom residences across three parcels.
Property Size27,100 SF
Price / SF$193.73
Days on Market6
Property Features for 171 SE Uglow St
General Information
Standard status
Active
Size
27,100 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
32
Building Details
Year Built
1976
Buildings
8
Construction
courtyard style
Listing Agency:
GALL REAL ESTATE SERVICES LLC
(503) 363-6051
Listed By:
JENNIFER HAND · License #960600193
Source:
Wisser
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 8:48PM
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 GALL REAL ESTATE SERVICES LLC
Investment Insights
Based on property information with market context.
This multifamily property contains 32 units arranged among eight buildings, with four units in each building. The courtyard-style layout includes a mix of two- and three-bedroom residences, and the property encompasses 27,100 square feet across three parcels. Constructed in 1976, the apartment community has local management in place.
A 90-day notice has been provided for rent increases, with financials based on the new rents. The property is located in Dallas, Oregon, and offers a defined unit count, varied bedroom configurations, and an established multifamily layout.
A 90-day notice has been provided for rent increases, with financials based on the new rents. The property is located in Dallas, Oregon, and offers a defined unit count, varied bedroom configurations, and an established multifamily layout.
Key Highlights
- 32 units across three parcels
- Eight buildings with four units each
- Mix of two- and three‑bedroom units
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
$299,734
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
5.71%
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%
$5,994,680
$6.0M
Cap Rate 7%
$4,281,914
$4.3M
Cap Rate 9%
$3,330,378
$3.3M
Market Conditions
NOI Build-Up for 27,100 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
$585.4K $21.60/SF
− Vacancy
−$40.4K −$1.49/SF
EGI
$545.0K $20.11/SF
− OpEx
−$245.2K −$9.05/SF
NOI
$299.7K $11.06/SF
Area
Polk County, OR
Vacancy
6.90%
Lease Rate
$21.60 /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%
$5,994,680
Cap Rate 7%
$4,281,914
Cap Rate 9%
$3,330,378
Alternative Uses
Best Use
Apartment 5plus
$4.28M
$3.75M – $5.00M
NOI $299,734 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.20M
$6.30M – $8.39M
NOI $503,670 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
32
Residential units
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
Explore this area
Business Placement
Demographics for 97338, OR
22,741
Population
9,109
Households
2.5
Avg Household Size
44
Median Age
25%
College-Educated
92%
High-School Grad
124.8 sq mi
ZIP Area
182
Density / Sq Mi
$73,345
Median Household Income
$37,359
Median Earnings
$1,197
Median Rent
$388,100
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 - Eight courtyard-style buildings offer a mix of two- and three-bedroom residences across three parcels.
Where is this apartment building located?
The property is located at 171 SE Uglow St Dallas, OR.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: 32 units across three parcels; Eight buildings with four units each; Mix of two- and three‑bedroom units
