224 C St, Independence, OR 97351
MULTI_FAMILY - Independence, OR
- Added:
- Mar 31, 2026
- Days on Market:
- 98
- Last Refresh:
- Jul 6 at 1:06 am
Property Features for 224 C St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Independence-PS
- Bedrooms
- 12
- Bathrooms
- 4
- Rooms
- Bedroom 7, Bedroom 10, Bedroom 11, Bathroom 2, Bedroom 1, Bathroom 4, Bedroom 9, Bedroom 12, Bedroom 5, Bedroom 6, Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 8
- Standard status
- Active
- APN
- 8428BA 6700
- Size
- 4,320 SF
- Lot size
- 0.23 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 7421
Utilities
- Heating system
- Electric (Heating), Zoned
Building Details
- Year built
- 1995
- Number of units
- 4
- Flooring type
- Vinyl, Carpet
Listing agent MATT KILLEN (503) 409-5023
Listing office HOMESMART REALTY GROUP 3240 COMMERCIAL ST SE, Salem, OR (971) 599-5865
Listing date Mar 31, 2026
Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Four‑plex built in 1995
- Each unit features 3 bedrooms, 1 bathroom, and laundry hookups
- Flooring includes carpet and vinyl
- Heating is zoned electric (heating)
- Reported low turnover and a good rental history
Overview
Located at 224 C St in Independence, Oregon, the home is described as being within walking distance of Main Street, the river park, and additional access to the river. The remarks also indicate a history of low turnover, which can be a meaningful operational consideration for owner-operators and investors evaluating multi-family holdings.
For tenants, the unit mix is straightforward: three-bedroom, one-bath layouts with laundry hookups in each unit. For buyers, the configuration provides four separate income streams within a compact footprint. As a four-unit property, it may appeal to those looking for manageable scale in the residential income market while keeping operations centralized to a single address.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $79.3k | $18.36 |
| − Vacancy | −$5.2k | −$1.20 |
| EGI | $74.1k | $17.16 |
| − OpEx | −$22.2k | −$5.15 |
| NOI | $51.9k | $12.01 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Independence
- County
- Polk
- State
- Oregon
- Longitude
- -123.186428
- Latitude
- 44.852252
