Four-Unit Quadplex With Mixed Unit
New
For Sale
$720,000
2493 PORTLAND Aly, Eugene, OR 97405
MultiFamily, Eugene, OR
Property Size3,682 SF
Lot Size0.20 Acres
Price / SF$195.55
Days on Market5
Property Features for 2493 PORTLAND Aly
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R -2
Bedrooms
9
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 2, Bedroom 7, Bedroom 9, Bedroom 8, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 3, Bathroom 5, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 6, Bedroom 3
Subdivision
Friendly Area
Elementary school
Adams
Middle school
Roosevelt
High school
South Eugene
Directions
Willamette, west on W 24th and N on Portland Aly
Standard status
Active
APN
0627172
Size
3,682 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
T18 R03 S06 Q41 TL04901
Tax Annual Amount
5631
Legal Description
T18 R03 S06 Q41 TL04901
Utilities
Heating system
Baseboard
Building Details
Year built
1946
Floors in Building
2
Number of units
4
Roof type
Composition
Listing Agency:
United Real Estate Properties
(541) 525-9060
Listed By:
Debra Jurasevich · License #920100103
(541) 913-6385
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 22 at 1:06PM
MLS# 262335012
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.
This four-unit property in Eugene includes a 1946-built main residence and a separate building containing three additional units. The primary home offers three bedrooms, one full bath, one half bath, some wood flooring, baseboard heating, and a composition roof. The second building includes one one-bedroom, one-bath unit on the main level, one three-bedroom, one-bath unit, and one upper-level two-bedroom, one-bath unit.
All four units are currently rented. The property is situated on a 0.2-acre lot and provides onsite and street parking. Total building area is 3,682 square feet, with R -2 medium-density zoning. The property is located in Eugene, Oregon, and includes the addresses 2493 Portland Aly and 47 W 25th Ave.
All four units are currently rented. The property is situated on a 0.2-acre lot and provides onsite and street parking. Total building area is 3,682 square feet, with R -2 medium-density zoning. The property is located in Eugene, Oregon, and includes the addresses 2493 Portland Aly and 47 W 25th Ave.
Key Highlights
- Four units across a main residence and separate three‑unit building
- 3,682 square feet of building area on a 0.2‑acre lot
- Unit mix includes 3‑bedroom, 2‑bedroom, and 1‑bedroom residences
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
$33,022
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
4.59%
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%
$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
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
$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 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%
$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.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
812
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
Check the figures for this property
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?
Quadplex - Two-building income property with a three-bedroom residence and three additional rental units.
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 units across a main residence and separate three‑unit building; 3,682 square feet of building area on a 0.2‑acre lot; Unit mix includes 3‑bedroom, 2‑bedroom, and 1‑bedroom residences
