Four-Unit Apartment
New
For Sale
$572,500
2180 W 17th CT, Eugene, OR 97402
The fully leased property is situated in a park-like setting with shared resident amenities.
Property Size2,322 SF
Price / SF$246.55
Days on Market5
Property Features for 2180 W 17th CT
General Information
Standard status
Active
Size
2,322 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
4
Amenities
association office
fitness center
community center
Building Details
Year Built
1960
Buildings
1
Listing Agency:
John L Scott Hermiston
Listed By:
Donna Roberts
(360) 844-3142
Source:
Donnarobertsgroup
Added: Sep 30
Changed: Oct 4
Last Checked: Oct 4 at 9:05AM
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 John L Scott Hermiston
Investment Insights
Based on property information with market context.
This four-unit residential income property contains 2,322 square feet and was built in 1960. The units are fully leased, and residents have access to an on-site association office, fitness center, and community center.
The property is near schools, shopping, and the Amazon bike trail. The University of Oregon is 3 miles away.
The property is near schools, shopping, and the Amazon bike trail. The University of Oregon is 3 miles away.
Key Highlights
- Four‑unit residential property with 2,322 square feet
- Fully leased
- Built in 1960
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
$20,825
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
3.64%
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%
$416,500
$416.5K
Cap Rate 7%
$297,500
$297.5K
Cap Rate 9%
$231,389
$231.4K
Market Conditions
NOI Build-Up for 2,322 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
$30.1K $12.96/SF
− Vacancy
−$343 −$0.15/SF
EGI
$29.8K $12.81/SF
− OpEx
−$8.9K −$3.84/SF
NOI
$20.8K $8.97/SF
Area
Eugene, OR
Vacancy
1.14%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
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%
$416,500
Cap Rate 7%
$297,500
Cap Rate 9%
$231,389
Alternative Uses
Best Use
Multifamily LT 5
$297.5K
$260.3K – $347.1K
NOI $20,825 @ 7.0% cap · market cap 3.64%
Second Best
Apartment 5plus
$259.6K
$227.1K – $302.8K
NOI $18,170 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$700.6K
$613.0K – $817.4K
NOI $49,041 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
853
Businesses Nearby
Explore this area
Business Placement
Demographics for 97402, OR
56,610
Population
23,882
Households
2.4
Avg Household Size
38
Median Age
26%
College-Educated
91%
High-School Grad
68.6 sq mi
ZIP Area
825
Density / Sq Mi
$55,743
Median Household Income
$35,728
Median Earnings
$1,287
Median Rent
$330,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - The fully leased property is situated in a park-like setting with shared resident amenities.
Where is this quadplex located?
The property is located at 2180 W 17th CT Eugene, OR.
What is the asking price?
The asking price for this property is $572,500.
What are key features of this property?
This property features: Four‑unit residential property with 2,322 square feet; Fully leased; Built in 1960
