5-Unit Apartment
1740 SPRUCE St, Myrtle Point, OR 97458
For Sale
$485,000
MultiFamily, MyrtlePoint, OR
Property Size4,360 SF
Lot Size0.24 Acres
Price / SF$111.24
Days on Market99
Property Features for 1740 SPRUCE St
General Information
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Building Details
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Listing Agency:
Pacific Coast Real Estate & Development, LLC
Listed By:
Joseph Aguirre · License OR #201012096
(541) 808-3297
Added: Aug 3
Changed: Nov 9
Last Checked: Nov 9 at 10:06PM
MLS# 741285422
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 5-unit apartment building in Myrtle Point contains 4,360 square feet on a 0.24-acre level lot. The layout includes separate entrances, small porches, yard area, and ample parking. Interior features include large windows, dormers with vaulted ceilings, updated flooring, fresh paint, and updated finishes. The building includes 9 bedrooms and 5 bathrooms, with baseboard heating.
Constructed in 1953, the property has received exterior work that includes a newer roof, replacement windows, and siding renovations. Roofing materials include rubber and composition systems. Zoned R-1 and located at 1740 Spruce St in Myrtle Point, the property offers a five-unit apartment configuration with established outdoor and parking areas.
Constructed in 1953, the property has received exterior work that includes a newer roof, replacement windows, and siding renovations. Roofing materials include rubber and composition systems. Zoned R-1 and located at 1740 Spruce St in Myrtle Point, the property offers a five-unit apartment configuration with established outdoor and parking areas.
Key Highlights
- Five‑unit apartment building with 4,360 square feet of building area
- 0.24‑acre level lot with parking and yard space
- 9 bedrooms and 5 bathrooms
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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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
153
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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 - R-1 multifamily property with private entrances, outdoor space, and recent exterior and interior improvements.
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: Five‑unit apartment building with 4,360 square feet of building area; 0.24‑acre level lot with parking and yard space; 9 bedrooms and 5 bathrooms
