Medford Multifamily Investment
For Sale
Contact for pricing
1808 Spring St, Medford, OR 97504
Eight homes and a duplex on commercially zoned property.
Property Size6,086 SF
Lot Size2.00 Acres
Price / SF$279.17
Days on Market870
Property Features for 1808 Spring St
General Information
Standard status
Active
Size
6,086 SF
Lot size
2.00 Acres
Property subtype
Multifamily
Building Details
Year Built
1947
Units
10
Listing Agency:
Oregon - eXp Realty
(541) 292-4444
Listed By:
Rockwell Group · License #201207277
Source:
Crexi
Added: Apr 3, 2024
Changed: Aug 8
Last Checked: Aug 8 at 6:31AM
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 Oregon - eXp Realty
Investment Insights
Based on property information with market context.
This property presents an investment opportunity with eight stick-built homes and a duplex situated on over two acres. The commercially zoned property is located in East Medford, offering potential for future development. Most units are rented or in the process of being rehabbed. Each unit has a separate electrical meter. The location is near parks, dining, and shopping. Mature trees surround the area, providing a sense of privacy. The property is an investment opportunity for those looking for a rental business. Monthly rents are close to $14,000. All units are either rented or in the process of being rehabbed and rented.
Key Highlights
- High‑income producing property with monthly rents close to $14k.
- Excellent investment opportunity with a great cap rate.
- Commercially zoned property on over 2 acres with potential for future development.
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
$57,239
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
3.37%
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%
$1,144,780
$1.1M
Cap Rate 7%
$817,700
$817.7K
Cap Rate 9%
$635,989
$636.0K
Market Conditions
NOI Build-Up for 6,086 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
$109.5K $18.00/SF
− Vacancy
−$5.5K −$0.90/SF
EGI
$104.1K $17.10/SF
− OpEx
−$46.8K −$7.69/SF
NOI
$57.2K $9.41/SF
Area
Jackson County, OR
Vacancy
5.00%
Lease Rate
$18.00 /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%
$1,144,780
Cap Rate 7%
$817,700
Cap Rate 9%
$635,989
Alternative Uses
Best Use
Apartment 5plus
$817.7K
$715.5K – $954.0K
NOI $57,239 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.29M – $1.71M
NOI $102,829 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Explore this area
Business Placement
Demographics for 97504, OR
49,942
Population
21,290
Households
2.3
Avg Household Size
43
Median Age
38%
College-Educated
93%
High-School Grad
43.3 sq mi
ZIP Area
1,153
Density / Sq Mi
$81,233
Median Household Income
$43,744
Median Earnings
$1,387
Median Rent
$447,800
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?
Multifamily property - Eight homes and a duplex on commercially zoned property.
Where is this multifamily property located?
The property is located at 1808 Spring St Medford, OR.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: High‑income producing property with monthly rents close to $14k.; Excellent investment opportunity with a great cap rate.; Commercially zoned property on over 2 acres with potential for future development.
