Nonconforming Triplex with
New
For Sale
$525,000
2296 PIERCE St, Eugene, OR 97405
MultiFamily, Eugene, OR
Property Size2,800 SF
Price / SF$187.50
Days on Market2
Property Features for 2296 PIERCE St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
r
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 3
Elementary school
Cesar Chavez
Middle school
Arts & Tech
High school
Churchill
Directions
23rd and Pierce
Subdivision
_244
Standard status
Active
APN
0700839
Size
2,800 SF
Taxes and HOA fees
Tax Description
TL 1804012402500
Tax Annual Amount
4530
Legal Description
TL 1804012402500
Utilities
Heating system
Baseboard
Amenities
laundry room
patio
shop
Building Details
Year built
1958
Number of units
3
Roof type
Composition
Listing Agency:
Windermere RE Lane County · Windermere Real Estate
(541) 484-2022
Listed By:
Kelly Cooley · License #990200021
(541) 912-2679
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 6 at 9:06PM
MLS# 183961354
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.
At 2296 Pierce St, this 2,800-square-foot property is configured as a nonconforming triplex. The main home has three bedrooms and two bathrooms, with an attached ADU adding a third bathroom. Built in 1958, the property has baseboard heating and a composition roof.
The building is on a corner lot in south Eugene, near shopping, restaurants, and a bus line. Outdoor and utility features include a backyard patio, shop space, and a separate exterior laundry room equipped with coin-operated machines. The property is currently rented, with spaces arranged to provide tenant separation and privacy.
The building is on a corner lot in south Eugene, near shopping, restaurants, and a bus line. Outdoor and utility features include a backyard patio, shop space, and a separate exterior laundry room equipped with coin-operated machines. The property is currently rented, with spaces arranged to provide tenant separation and privacy.
Key Highlights
- 2,800‑square‑foot property configured as a nonconforming triplex
- Three‑bedroom, two‑bathroom home with attached ADU and a third bathroom
- Currently rented with tenant separation and privacy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,112
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$502,240
$502.2K
Cap Rate 7%
$358,743
$358.7K
Cap Rate 9%
$279,022
$279.0K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$36.3K $12.96/SF
− Vacancy
−$414 −$0.15/SF
EGI
$35.9K $12.81/SF
− OpEx
−$10.8K −$3.84/SF
NOI
$25.1K $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 Rate 5%
$502,240
Cap Rate 7%
$358,743
Cap Rate 9%
$279,022
Alternative Uses
Best Use
Multifamily LT 5
$358.7K
$313.9K – $418.5K
NOI $25,112 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$313.0K
$273.9K – $365.2K
NOI $21,910 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$844.8K
$739.2K – $985.6K
NOI $59,136 @ 7.0% cap · market cap 11.26%
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
386
Businesses Nearby
Explore this area
Business Placement
Demographics for 97405, OR
46,303
Population
20,395
Households
2.3
Avg Household Size
44
Median Age
57%
College-Educated
97%
High-School Grad
129.2 sq mi
ZIP Area
358
Density / Sq Mi
$93,136
Median Household Income
$41,482
Median Earnings
$1,417
Median Rent
$494,000
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 - The tenant-occupied property includes a separate exterior laundry room with coin-operated machines, a backyard patio, and shop space.
Where is this triplex located?
The property is located at 2296 PIERCE St Eugene, OR.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,800‑square‑foot property configured as a nonconforming triplex; Three‑bedroom, two‑bathroom home with attached ADU and a third bathroom; Currently rented with tenant separation and privacy
