5-Unit Apartment
For Sale
$485,000
1740 Spruce St, Myrtle Point, OR 97458
Well-maintained multifamily property with private entrances, outdoor space, and updated interior finishes.
Property Size4,360 SF
Price / SF$111.24
Days on Market62
Property Features for 1740 Spruce St
General Information
Standard status
Active
Size
4,360 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
5
Amenities
private entrances
porches
yard space
Building Details
Year Built
1953
Buildings
1
Listing Agency:
Pacific Coast Real Estate & Development, LLC
Listed By:
Joseph Aguirre · License #201012096
(541) 217-7710
Source:
Rosecityrealtygroup
Added: Aug 17
Changed: Oct 5
Last Checked: Oct 7 at 4:34PM
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 Pacific Coast Real Estate & Development, LLC
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Investment Insights
Based on property information with market context.
This 5-unit apartment building offers 4,360 square feet of residential space across a practical layout with separate entrances and small porches. The interiors feature abundant natural light, large windows, dormers, vaulted ceilings, updated flooring, fresh paint, and other finish improvements. Exterior work includes a newer roof, replacement windows, and siding renovations.
Built in 1953, the property occupies a large, level lot at 1740 Spruce St in Myrtle Point, Oregon. The grounds provide substantial parking and yard area, adding useful outdoor space for residents. The combination of multiple units, individual access points, and recent improvements creates a straightforward multifamily configuration.
Built in 1953, the property occupies a large, level lot at 1740 Spruce St in Myrtle Point, Oregon. The grounds provide substantial parking and yard area, adding useful outdoor space for residents. The combination of multiple units, individual access points, and recent improvements creates a straightforward multifamily configuration.
Key Highlights
- 5‑unit apartment building with 4,360 square feet
- Large, level lot with substantial parking and yard space
- Private entrances and small porches for individual units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,517
Cap Rate
7.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$730,340
$730.3K
Cap Rate 7%
$521,671
$521.7K
Cap Rate 9%
$405,744
$405.7K
Market Conditions
NOI Build-Up for 4,360 SF
Gross rent
$70.6K $16.20/SF
− Vacancy
−$4.2K −$0.97/SF
EGI
$66.4K $15.23/SF
− OpEx
−$29.9K −$6.85/SF
NOI
$36.5K $8.38/SF
Area
Coos County, OR
Vacancy
6.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$730,340
Cap Rate 7%
$521,671
Cap Rate 9%
$405,744
Alternative Uses
Best Use
Apartment 5plus
$521.7K
$456.5K – $608.6K
NOI $36,517 @ 7.0% cap · market cap 7.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$789.3K
$690.6K – $920.8K
NOI $55,250 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
153
Businesses Nearby
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Business Placement
Demographics for 97458, OR
4,729
Population
2,376
Households
2
Avg Household Size
50
Median Age
13%
College-Educated
90%
High-School Grad
360.9 sq mi
ZIP Area
13
Density / Sq Mi
$51,703
Median Household Income
$41,406
Median Earnings
$800
Median Rent
$251,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained multifamily property with private entrances, outdoor space, and updated interior finishes.
Where is this apartment building located?
The property is located at 1740 Spruce St Myrtle Point, OR.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 5‑unit apartment building with 4,360 square feet; Large, level lot with substantial parking and yard space; Private entrances and small porches for individual units
