Apartment Building with
For Sale
$1,500,000
2236 3rd Street, Malin, OR 97632
Residential Income, Malin, OR
Property Size9,912 SF
Lot Size0.72 Acres
Price / SF$151.33
Days on Market401
Property Features for 2236 3rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R
Parking features
Driveway, On Street
Interior features
Shower/Tub Combo
Appliances
Cooktop, Oven, Range, Refrigerator, Water Heater
Subdivision
Klamath Forest Estates
Lot features
Corner Lot, Level, Native Plants
View
Territorial
Elementary school
Malin Elem
Middle school
Check with District
High school
Lost River High
Directions
Corner of Third and Railroad
Standard status
Active
APN
124074
Size
9,912 SF
Lot size
0.72 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3188
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Electric (Heating)
Water source
Public
Amenities
courtyard
garage/storage space
Building Details
Year built
1939
Floors in Building
1
Number of units
15
Flooring type
Simulated wood, Vinyl, Carpet, Laminate
Building materials
Brick, Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Action Realty
(541) 884-3367
Listed By:
Jennifer Frye
(775) 318-0126
Added: Sep 17, 2025
Changed: Oct 20
Last Checked: Oct 22 at 1:06PM
MLS# 220209606
Copyright © 2026 Oregon Data Share. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 15-unit apartment property in Malin, Oregon, contains 9,912 square feet on a 0.72-acre site. Most residences offer two-bedroom layouts, and several units have received updates. The property combines brick and frame construction with a central courtyard, while interior features include carpet, vinyl, simulated wood, and laminate flooring. Individual units include cooktops, ovens, ranges, refrigerators, water heaters, and shower/tub combinations.
Built in 1939, the property has a composition roof replaced in 2026. Parking is provided through a driveway and on-street spaces, with additional garage and storage areas. Public water and public sewer serve the property. A nearby park with an outdoor pool adds a recreational amenity to the surrounding residential setting.
Built in 1939, the property has a composition roof replaced in 2026. Parking is provided through a driveway and on-street spaces, with additional garage and storage areas. Public water and public sewer serve the property. A nearby park with an outdoor pool adds a recreational amenity to the surrounding residential setting.
Key Highlights
- 15‑unit apartment property with 9,912 square feet of building area
- 0.72‑acre site in Malin, Oregon
- Most units feature two‑bedroom layouts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,516
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,430,320
$1.4M
Cap Rate 7%
$1,021,657
$1.0M
Cap Rate 9%
$794,622
$794.6K
Market Conditions
NOI Build-Up for 9,912 SF
Gross rent
$142.7K $14.40/SF
− Vacancy
−$12.7K −$1.28/SF
EGI
$130.0K $13.12/SF
− OpEx
−$58.5K −$5.90/SF
NOI
$71.5K $7.22/SF
Area
Klamath County, OR
Vacancy
8.90%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,430,320
Cap Rate 7%
$1,021,657
Cap Rate 9%
$794,622
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$894.0K – $1.19M
NOI $71,516 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.77M – $2.36M
NOI $141,819 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
60
Businesses Nearby
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Business Placement
Demographics for 97632, OR
1,378
Population
544
Households
2.5
Avg Household Size
43
Median Age
12%
College-Educated
87%
High-School Grad
63.8 sq mi
ZIP Area
22
Density / Sq Mi
$54,167
Median Household Income
$39,375
Median Earnings
$1,288
Median Rent
$293,800
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 - Fifteen-unit multifamily property with brick construction, updated units, garage and storage space, and public utilities.
Where is this apartment building located?
The property is located at 2236 3rd Street Malin, OR.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 15‑unit apartment property with 9,912 square feet of building area; 0.72‑acre site in Malin, Oregon; Most units feature two‑bedroom layouts
