Updated 4-Plex
302 South 19th Avenue Cornelius, OR 97113
302 South 19th Avenue, Cornelius, OR, 97113
$950,000
For Sale
$950,000
Newly updated four-plex offering three fully renovated units, new roof, and long-term tenants.
Property Size3,072 SF
Price / SF$309.24
Days on Market291
Property Features for 302 South 19th Avenue
General Information
- Standard status
- Active
- Size
- 3,072 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1936
Listing agency
CORE, Realtors
(503) 545-7935
Listed by
Conor Finlay · License #201217057
(503) 545-7935
Source
Compass
Added: Oct 5, 2025 Updated: Jul 22 at 7:22AM Checked: Jul 22 at 7:22AM
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 CORE, Realtors
Investment Insights
Based on property information with market context.
This newly updated four-plex includes three fully renovated units with new flooring, appliances, plumbing, and finishes. The property also features a new roof installed in 2023. The rental history is described as strong, with long-term tenants in place.
The property is offered for sale and is noted as having a hard-to-find, developable lot. Please do not disturb tenants or walk on the property.
Total size is listed at 3,072 square feet, with the address at 302 South 19th Avenue, Cornelius, OR 97113.
The property is offered for sale and is noted as having a hard-to-find, developable lot. Please do not disturb tenants or walk on the property.
Total size is listed at 3,072 square feet, with the address at 302 South 19th Avenue, Cornelius, OR 97113.
Key Highlights
- Newly updated 4‑plex with 3 fully renovated units
- Renovations include new flooring, appliances, plumbing, and finishes in the renovated units
- New roof installed in 2023
Local Financial Insights For Apartment 5plus
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 | $75.6k | $24.60 |
| − Vacancy | −$3.9k | −$1.25 |
| EGI | $71.7k | $23.35 |
| − OpEx | −$32.3k | −$10.51 |
| NOI | $39.4k | $12.84 |
3,072 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$563.5K
$493.1K – $657.4K
NOI $39,444 @ 7.0% cap · market cap 4.15%
Second Best
Multifamily LT 5
$538.8K
$471.5K – $628.7K
NOI $37,719 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$829.2K
$725.6K – $967.4K
NOI $58,045 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Newly updated four-plex offering three fully renovated units, new roof, and long-term tenants.
Where is this quadplex located?
The property is located at 302 South 19th Avenue Cornelius, OR.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Newly updated 4‑plex with 3 fully renovated units; Renovations include new flooring, appliances, plumbing, and finishes in the renovated units; New roof installed in 2023
