Two-Building
2493 Portland ALY, Eugene, OR 97405
For Sale
$720,000
A vintage residence and separate apartment structure provide an occupied rental configuration with R-2 medium-density zoning.
Property Size3,682 SF
Price / SF$195.55
Days on Market47
Property Features for 2493 Portland ALY
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Site & Location
Neighborhood
Road Access
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
Innovate Real Estate LLC
(503) 892-2976
Listed By:
Nick Shivers Team | eXp Realty
(503) 594-0805
Source:
Nickshivers
Added: Sep 21
Changed: Nov 6
Last Checked: Nov 6 at 9:00AM
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 Innovate Real Estate LLC
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Investment Insights
Based on property information with market context.
This 3,682-square-foot quadplex includes a vintage home and a separate building containing three additional rental units. Built in 1946, the primary residence fronts W 25th Ave and offers three bedrooms, 1.1 baths, and some wood flooring. The second structure fronts Portland ALY and contains a main-level one-bedroom, one-bath unit, a three-bedroom, one-bath unit, and an upper-level two-bedroom, one-bath unit. All four units are currently rented.
The property occupies the corner of W 25th Ave and Portland ALY at 2493 Portland ALY and 47 W 25th Ave in south Eugene. R-2 medium-density zoning supports the existing configuration, with both onsite and street parking available.
The property occupies the corner of W 25th Ave and Portland ALY at 2493 Portland ALY and 47 W 25th Ave in south Eugene. R-2 medium-density zoning supports the existing configuration, with both onsite and street parking available.
Key Highlights
- Four‑unit rental property with all units currently rented
- 3,682 square feet across a vintage home and second building
- Unit mix includes 3‑bedroom, 2‑bedroom, and 1‑bedroom residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,022
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$660,440
$660.4K
Cap Rate 7%
$471,743
$471.7K
Cap Rate 9%
$366,911
$366.9K
Market Conditions
NOI Build-Up for 3,682 SF
Gross rent
$47.7K $12.96/SF
− Vacancy
−$544 −$0.15/SF
EGI
$47.2K $12.81/SF
− OpEx
−$14.2K −$3.84/SF
NOI
$33.0K $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%
$660,440
Cap Rate 7%
$471,743
Cap Rate 9%
$366,911
Alternative Uses
Best Use
Multifamily LT 5
$471.7K
$412.8K – $550.4K
NOI $33,022 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$411.6K
$360.2K – $480.2K
NOI $28,812 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$1.11M
$972.1K – $1.30M
NOI $77,764 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
812
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - A vintage residence and separate apartment structure provide an occupied rental configuration with R-2 medium-density zoning.
Where is this quadplex located?
The property is located at 2493 Portland ALY Eugene, OR.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: Four‑unit rental property with all units currently rented; 3,682 square feet across a vintage home and second building; Unit mix includes 3‑bedroom, 2‑bedroom, and 1‑bedroom residences
