Triplex with Covered
For Sale
$950,000
2088 OAK St, West Linn, OR 97068
MultiFamily, WestLinn, OR
Property Size3,154 SF
Lot Size0.23 Acres
Price / SF$301.20
Days on Market237
Property Features for 2088 OAK St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4.5
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 1, Bathroom 4, Bathroom 3, Bedroom 5, Bedroom 8, Bedroom 1, Bedroom 7, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 6, Bathroom 5
View
Valley
Elementary school
Sunset
Middle school
Rosemont Ridge
High school
West Linn
Directions
From 205 up Sunset Ave to Riverview Ave to Oak Street
Subdivision
_147
Standard status
Active
APN
00411165
Size
3,154 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
36 WEST SIDE ADD OREG CITY LTS 10 & 11 BLK 3
Tax Annual Amount
5796
Legal Description
36 WEST SIDE ADD OREG CITY LTS 10 & 11 BLK 3
Utilities
Heating system
Baseboard
Amenities
covered patio
Building Details
Year built
1948
Floors in Building
2
Number of units
3
Roof type
Metal
Listing Agency:
Premiere Property Group, LLC
(503) 670-9000
Listed By:
John McPherson · License #201213231
(503) 406-1776
Added: Feb 9
Changed: Oct 2
Last Checked: Oct 4 at 8:06PM
MLS# 537824585
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.
This 3,154-square-foot triplex was built in 1948 and sits on a 0.23-acre corner lot. Its layout includes a ground-floor unit with a sliding-glass-door entrance to the side and rear yards, plus a covered patio. A second-floor unit has two bedrooms and one bathroom, while part of the third unit is also on that level and includes an upstairs suite. The property has a carport with attached lower-level storage and off-street parking.
Views extend toward the mountains, including Mount Hood. The property is zoned R4.5 and is located in West Linn.
Views extend toward the mountains, including Mount Hood. The property is zoned R4.5 and is located in West Linn.
Key Highlights
- Three‑unit residential property totaling 3,154 square feet
- 0.23‑acre corner lot with views toward Mount Hood and other mountains
- Second‑floor unit includes 2 bedrooms and 1 bathroom
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
$40,497
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
4.26%
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%
$809,940
$809.9K
Cap Rate 7%
$578,529
$578.5K
Cap Rate 9%
$449,967
$450.0K
Market Conditions
NOI Build-Up for 3,154 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
$77.6K $24.60/SF
− Vacancy
−$4.0K −$1.25/SF
EGI
$73.6K $23.35/SF
− OpEx
−$33.1K −$10.51/SF
NOI
$40.5K $12.84/SF
Area
Clackamas County, OR
Vacancy
5.10%
Lease Rate
$24.60 /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%
$809,940
Cap Rate 7%
$578,529
Cap Rate 9%
$449,967
Alternative Uses
Best Use
Apartment 5plus
$578.5K
$506.2K – $675.0K
NOI $40,497 @ 7.0% cap · market cap 4.26%
Second Best
Multifamily LT 5
$566.0K
$495.2K – $660.3K
NOI $39,618 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$851.3K
$744.9K – $993.2K
NOI $59,594 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Explore this area
Business Placement
Demographics for 97068, OR
30,712
Population
11,656
Households
2.6
Avg Household Size
43
Median Age
63%
College-Educated
98%
High-School Grad
22.4 sq mi
ZIP Area
1,371
Density / Sq Mi
$145,877
Median Household Income
$65,674
Median Earnings
$1,994
Median Rent
$760,900
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
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Frequently Asked Questions
What type of property is this?
Triplex - A ground-floor residence opens through a sliding glass door to the side yard, rear yard, and covered patio.
Where is this triplex located?
The property is located at 2088 OAK St West Linn, OR.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Three‑unit residential property totaling 3,154 square feet; 0.23‑acre corner lot with views toward Mount Hood and other mountains; Second‑floor unit includes 2 bedrooms and 1 bathroom
