Multifamily Property Near Civic
For Sale
Contact for pricing
2055 Willamette St, Eugene, OR 97405
Four residential units near downtown Eugene and the University of Oregon.
Property Size4,804 SF
Lot Size0.36 Acres
Price / SF$273.73
Days on Market915
Property Features for 2055 Willamette St
General Information
Standard status
Active
Size
4,804 SF
Class
B
Lot size
0.36 Acres
Property subtype
Multifamily
Zoning
Medium Density Residential
Investment Type
Redevelopment
Site & Location
Neighborhood
Friendly Area Neighbors
Building Details
Units
4
Listing Agency:
Campbell Commercial Real Estate
Listed By:
Abby Hyland · License #201256624
(541) 556-4813
Source:
Crexi
Added: May 3, 2024
Changed: Oct 26
Last Checked: Nov 1 at 5:33AM
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 Campbell Commercial Real Estate
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Investment Insights
Based on property information with market context.
This property offers an investment or development opportunity, featuring four residential units with a total of twelve bedrooms. Situated on a 0.36-acre lot, the property includes on-site parking. The three structures on the property total approximately 4,804 square feet and are zoned R-3. Redevelopment possibilities include townhouses, duplexes, or a multi-story apartment building. Located adjacent to the new Civic Park and Kidsports Facilities, the property is within walking distance of Downtown Eugene and the University of Oregon campus. Bus lines, grocery stores, restaurants, and other amenities are also nearby. This property is located in South Eugene.
Key Highlights
- Prime redevelopment opportunity with R‑3 zoning allowing for townhouses, duplexes, or a multi‑story apartment building.
- Four residential units totaling twelve bedrooms, providing immediate rental income potential.
- Desirable location adjacent to the new Civic Park and Kidsports Facilities.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,591
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$751,820
$751.8K
Cap Rate 7%
$537,014
$537.0K
Cap Rate 9%
$417,678
$417.7K
Market Conditions
NOI Build-Up for 4,804 SF
Gross rent
$69.2K $14.40/SF
− Vacancy
−$830 −$0.17/SF
EGI
$68.3K $14.23/SF
− OpEx
−$30.8K −$6.40/SF
NOI
$37.6K $7.82/SF
Area
Eugene, OR
Vacancy
1.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$751,820
Cap Rate 7%
$537,014
Cap Rate 9%
$417,678
Alternative Uses
Best Use
Apartment 5plus
$537.0K
$469.9K – $626.5K
NOI $37,591 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,460 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,728
Businesses Nearby
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Business Placement
Demographics for 97405, OR
46,303
Population
20,395
Households
2.3
Avg Household Size
44
Median Age
57%
College-Educated
97%
High-School Grad
129.2 sq mi
ZIP Area
358
Density / Sq Mi
$93,136
Median Household Income
$41,482
Median Earnings
$1,417
Median Rent
$494,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Four residential units near downtown Eugene and the University of Oregon.
Where is this multifamily property located?
The property is located at 2055 Willamette St Eugene, OR.
What is the asking price?
The asking price for this property is $1,315,000.
What are key features of this property?
This property features: Prime redevelopment opportunity with R‑3 zoning allowing for townhouses, duplexes, or a multi‑story apartment building.; Four residential units totaling twelve bedrooms, providing immediate rental income potential.; Desirable location adjacent to the new Civic Park and Kidsports Facilities.
