6-Unit Apartment
New
For Sale
$535,000
1900 MONROE St, North Bend, OR 97459
MultiFamily, NorthBend, OR
Property Size3,024 SF
Price / SF$176.92
Days on Market1
Property Features for 1900 MONROE St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
CG
Bedrooms
6
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 1, Bathroom 4, Bedroom 3, Bedroom 4, Bathroom 6, Bedroom 1, Bedroom 6, Bathroom 5, Bathroom 3, Bathroom 7, Bedroom 5, Bathroom 2, Bedroom 2
View
Territorial
Elementary school
Hillcrest
Middle school
North Bend
High school
North Bend
Directions
Virginia, North on Monroe, property on left
Subdivision
_260
Standard status
Active
APN
6304600
Size
3,024 SF
Taxes and HOA fees
Tax Description
25S1315-AB-06700
Tax Annual Amount
2388
Legal Description
25S1315-AB-06700
Building Details
Year built
1946
Floors in Building
1
Number of units
6
Roof type
Composition
Listing Agency:
Pacific Coast Real Estate & Development, LLC
(541) 808-3297
Listed By:
Amy Aguirre
(541) 217-7725
Added: Sep 2
Last Checked: Sep 2 at 10:06PM
MLS# 747816846
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.
Investment Insights
Based on property information with market context.
The property contains six apartment units within a 3,024-square-foot building constructed in 1946. The unit mix includes four one-bedroom, one-bath residences, one studio, and one two-bedroom, one-and-a-half-bath residence. Multiple units have received recent updates, and the building has a new composition roof.
Positioned on a corner lot at 1900 Monroe St in North Bend, the property is near in-town amenities and is currently fully occupied. The site is zoned CG, adding a defined land-use designation to the existing multifamily configuration. Showings are by appointment, with no disturbance to residents requested.
Positioned on a corner lot at 1900 Monroe St in North Bend, the property is near in-town amenities and is currently fully occupied. The site is zoned CG, adding a defined land-use designation to the existing multifamily configuration. Showings are by appointment, with no disturbance to residents requested.
Key Highlights
- Six‑unit apartment building with four one‑bedroom, one‑bath units, one studio, and one two‑bedroom, one‑and‑a‑half‑bath unit
- 3,024 square feet on a corner lot at 1900 MONROE St, NorthBend, OR 97459
- Fully occupied multifamily property
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
$25,327
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
4.73%
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%
$506,540
$506.5K
Cap Rate 7%
$361,814
$361.8K
Cap Rate 9%
$281,411
$281.4K
Market Conditions
NOI Build-Up for 3,024 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
$49.0K $16.20/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$46.0K $15.23/SF
− OpEx
−$20.7K −$6.85/SF
NOI
$25.3K $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 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%
$506,540
Cap Rate 7%
$361,814
Cap Rate 9%
$281,411
Alternative Uses
Best Use
Apartment 5plus
$361.8K
$316.6K – $422.1K
NOI $25,327 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$547.4K
$479.0K – $638.7K
NOI $38,320 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
626
Businesses Nearby
Explore this area
Business Placement
Demographics for 97459, OR
14,932
Population
6,856
Households
2.2
Avg Household Size
46
Median Age
29%
College-Educated
93%
High-School Grad
109.3 sq mi
ZIP Area
137
Density / Sq Mi
$79,679
Median Household Income
$39,665
Median Earnings
$1,066
Median Rent
$349,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with a varied mix of studio, one-bedroom, and two-bedroom residences.
Where is this apartment building located?
The property is located at 1900 MONROE St North Bend, OR.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Six‑unit apartment building with four one‑bedroom, one‑bath units, one studio, and one two‑bedroom, one‑and‑a‑half‑bath unit; 3,024 square feet on a corner lot at 1900 MONROE St, NorthBend, OR 97459; Fully occupied multifamily property
