Four-Unit Property Under
New
For Sale
$699,900
2325 5th Ave, West Linn, OR 97068
Approved plans and installed utilities support completion of a four-unit residential project.
Property Size4,063 SF
Price / SF$172.26
Days on Market5
Property Features for 2325 5th Ave
General Information
Standard status
Active
Size
4,063 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Amenities
detached garage with storage
RV parking
RV hookup
Building Details
Year Built
1910
Listing Agency:
Matin Real Estate
Listed By:
Leona Mullen
(503) 447-3599
Source:
Southwestwahomefinder
Added: Sep 2
Changed: Sep 5
Last Checked: Sep 5 at 3:20PM
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 Matin Real Estate
Investment Insights
Based on property information with market context.
This 4,063-square-foot quadplex is being completed as four separate two-bedroom units. County plans and permits have been approved, while plumbing and electrical systems are already installed. The property also includes a detached garage with additional storage, designated RV parking, and an RV hookup.
Built in 1910, the property is located in West Linn’s Willamette area at 2325 5th Ave. Parks, riverfront recreation, shopping, dining, and Historic Willamette are identified nearby. The project remains under construction and allows the finished layout and improvements to be completed within the approved plans.
Built in 1910, the property is located in West Linn’s Willamette area at 2325 5th Ave. Parks, riverfront recreation, shopping, dining, and Historic Willamette are identified nearby. The project remains under construction and allows the finished layout and improvements to be completed within the approved plans.
Key Highlights
- Four separate 2‑bedroom units within a 4,063‑square‑foot quadplex
- County plans and permits approved
- Plumbing and electrical systems already installed
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
$52,169
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
7.45%
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%
$1,043,380
$1.0M
Cap Rate 7%
$745,271
$745.3K
Cap Rate 9%
$579,656
$579.7K
Market Conditions
NOI Build-Up for 4,063 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
$99.9K $24.60/SF
− Vacancy
−$5.1K −$1.25/SF
EGI
$94.9K $23.35/SF
− OpEx
−$42.7K −$10.51/SF
NOI
$52.2K $12.84/SF
Area
Clackamas County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$1,043,380
Cap Rate 7%
$745,271
Cap Rate 9%
$579,656
Alternative Uses
Best Use
Apartment 5plus
$745.3K
$652.1K – $869.5K
NOI $52,169 @ 7.0% cap · market cap 7.45%
Second Best
Multifamily LT 5
$729.1K
$638.0K – $850.6K
NOI $51,036 @ 7.0% cap · market cap 7.29%
Theoretical Best
Office A
$1.10M
$959.6K – $1.28M
NOI $76,769 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
Explore this area
Business Placement
Demographics for 97068, OR
30,712
Population
11,656
Households
2.6
Avg Household Size
43
Median Age
63%
College-Educated
98%
High-School Grad
22.4 sq mi
ZIP Area
1,371
Density / Sq Mi
$145,877
Median Household Income
$65,674
Median Earnings
$1,994
Median Rent
$760,900
Median Home Value
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 - Approved plans and installed utilities support completion of a four-unit residential project.
Where is this quadplex located?
The property is located at 2325 5th Ave West Linn, OR.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Four separate 2‑bedroom units within a 4,063‑square‑foot quadplex; County plans and permits approved; Plumbing and electrical systems already installed
