8-Unit Apartment
For Sale
Contact for pricing
2153 10th, Florence, OR 97439
Upper- and lower-level residential units are situated within an RR-zoned apartment property.
Property Size7,400 SF
Price / SF$121.62
Days on Market62
Property Features for 2153 10th
General Information
Standard status
Active
Size
7,400 SF
Property subtype
Multifamily
Zoning
RR
Investment Type
Value Add
Property Condition
Severity
Repairs Needed
Evidence
property in need of repairs
Additional Details
Multifamily Units
8
Building Details
Year Built
1974
Buildings
2
Stories
2
Units
8
Tenancy
Multi
Listing Agency:
Pacific Coast Real Estate & Development
Listed By:
Joe Aguirre · License #201012060
(541) 217-7710
Source:
Crexi
Added: Aug 17
Changed: Oct 7
Last Checked: Oct 16 at 6:28AM
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 Pacific Coast Real Estate & Development
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Investment Insights
Based on property information with market context.
This 8-unit apartment property contains 7,400 square feet and was built in 1974. The layout includes 2/2 units on both upper and lower levels, with some condominium entitlements already in place. The property is zoned RR and is being offered in its existing condition, with repairs needed to certain systems, finishes, or fixtures.
Interior access is not available, and the property is limited to drive-by inspection. The sale includes the existing tenants and any on-site management at closing. Buyer responsibility includes removal of personal property and debris, with the transaction subject to third-party court approval.
Interior access is not available, and the property is limited to drive-by inspection. The sale includes the existing tenants and any on-site management at closing. Buyer responsibility includes removal of personal property and debris, with the transaction subject to third-party court approval.
Key Highlights
- 8‑unit apartment complex with 7,400 square feet
- Built in 1974
- 2/2 units arranged on upper and lower levels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,631
Cap Rate
7.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,352,620
$1.4M
Cap Rate 7%
$966,157
$966.2K
Cap Rate 9%
$751,456
$751.5K
Market Conditions
NOI Build-Up for 7,400 SF
Gross rent
$130.5K $17.64/SF
− Vacancy
−$7.6K −$1.02/SF
EGI
$123.0K $16.62/SF
− OpEx
−$55.3K −$7.48/SF
NOI
$67.6K $9.14/SF
Area
Lane County, OR
Vacancy
5.80%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,352,620
Cap Rate 7%
$966,157
Cap Rate 9%
$751,456
Alternative Uses
Best Use
Apartment 5plus
$966.2K
$845.4K – $1.13M
NOI $67,631 @ 7.0% cap · market cap 7.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.87M
$1.64M – $2.18M
NOI $131,047 @ 7.0% cap · market cap 14.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
668
Businesses Nearby
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Business Placement
Demographics for 97439, OR
15,634
Population
9,056
Households
1.7
Avg Household Size
62
Median Age
27%
College-Educated
92%
High-School Grad
168.3 sq mi
ZIP Area
93
Density / Sq Mi
$58,576
Median Household Income
$36,146
Median Earnings
$1,164
Median Rent
$364,600
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?
Apartment building - Upper- and lower-level residential units are situated within an RR-zoned apartment property.
Where is this apartment building located?
The property is located at 2153 10th Florence, OR.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 8‑unit apartment complex with 7,400 square feet; Built in 1974; 2/2 units arranged on upper and lower levels
