Building Details

Year Built 1998

Buildings 1

Tenancy Single

Listing Agency: Oregon First

Listed By: Adam Durham · License #201221628 Show Phone

Source: Century21northhomes

Added: Oct 5 Changed: Oct 31 Last Checked: Nov 1 at 6:19AM

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Investment Insights

Based on property information with market context.

Boardwalk Lodge is a 9,800-square-foot property built in 1998, with five units currently operated together as a vacation rental. Unit 1 has an additional private sleeping room off its living room, plus an adjacent 1,150-square-foot great and game room. The lodge also includes a commercial kitchen, two hot tubs and an upper deck with views of Skibowl. Furnishings are included, and the property is zoned RTC.

At 30544 E Olive St in downtown Government Camp, the lodge is within walking distance of Ski Bowl. Timberline is accessible by ride, and Meadows by car. The five-unit configuration can accommodate whole-property or individual-unit rentals; unit sleeping capacity varies, with groups of approximately 5–10 people noted for individual units.

Key Highlights

• 9,800‑square‑foot lodge with five units
• Currently rented as a vacation rental in its entirety
• Adjacent 1,150‑square‑foot great/game room

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$125,832

Cap Rate

4.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,516,640 $2.5M

Cap Rate 7%

$1,797,600 $1.8M

Cap Rate 9%

$1,398,133 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,800 SF

Gross rent

$241.1K $24.60/SF

− Vacancy

−$12.3K −$1.25/SF

EGI

$228.8K $23.35/SF

− OpEx

−$103.0K −$10.51/SF

NOI

$125.8K $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 Rate 5%

$2,516,640

Cap Rate 7%

$1,797,600

Cap Rate 9%

$1,398,133

Alternative Uses

Best Use

Apartment 5plus

$1.80M

$1.57M – $2.10M (±1% cap)

NOI $125,832 @ 7.0% cap · market cap 4.84%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.65M

$2.31M – $3.09M (±1% cap)

NOI $185,168 @ 7.0% cap · market cap 7.12%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

5

Residential units

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

99

Businesses Nearby

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Demographics for 97028, OR

230

Population

614

Households

0.4

Avg Household Size

38

Median Age

63%

College-Educated

98%

High-School Grad

38.0 sq mi

ZIP Area

6

Density / Sq Mi

$77,119

Median Household Income

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Similar For Sale Nearby

See more

Two-Unit Vacation Rental Lodge

Government Camp, OR 97028

$1,175,000

3,744 SF

View details

Four-Unit Quadplex with Metal Roof

Government Camp, OR 97028

$1,400,000

3,600 SF

View details

Frequently Asked Questions

What type of property is this?

Short term rental property - Furnished accommodations include a commercial kitchen, two hot tubs and a spacious gathering room.

Where is this short term rental property located?

The property is located at 30544 E Olive Street Government Camp, OR.

What is the asking price?

The asking price for this property is $2,600,000.

What are key features of this property?

This property features: 9,800‑square‑foot lodge with five units; Currently rented as a vacation rental in its entirety; Adjacent 1,150‑square‑foot great/game room