Historic 3-Unit Income
308 HIGH ST Oregon City, OR 97045
For Sale
Contact for pricing
Three-unit property across from a park with recent exterior and interior improvements for rental-ready occupancy.
Property Size3,174 SF
Price / SF$189
Days on Market54
Property Features for 308 HIGH ST
General Information
- Standard status
- Active
- Size
- 3,174 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1905
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
Source:
Crexi
Added: May 31
Changed: Jul 10
Last Checked: Jul 23 at 7:06AM
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 Keller Williams Realty Portland Premiere
Investment Insights
Based on property information with market context.
Built in 1905, this three-unit multifamily property is configured with one unit on each level. The offering includes multiple interior updates across the units, including updated kitchen cabinets and appliances, lighting fixtures, bathroom updates, heating updates, and plumbing repairs as needed, along with fresh paint and attic finish work. The basement utility area has also seen improvements, including updated electrical panels, furnaces, and water heaters. Exterior work completed in 2025 includes roof, siding, and gutter replacement, kitchen porch and porch roof replacement, dormer window repairs, select window replacement, porch rail repairs, and fencing repairs.
The property is located at 308 High St in Oregon City, positioned across from Promenade Park. The setting provides views toward historic downtown Oregon City and Willamette Falls. The area offers walkable access to downtown Oregon City and Main Street shops, coffee, restaurants, pubs, river viewpoints, and Willamette Falls views, as well as nearby outdoor spaces including Clackamette Park and Canemah, plus access to Providence Willamette Falls Medical Center, Clackamas Community College, and commuter routes. Street parking is available.
For buyers seeking an income-oriented residential property, the current configuration and recent renovations support a straightforward rental layout with demonstrated attention to core systems and building envelope. Buyer to verify unit configuration, rents, expenses, square footage, zoning, legal use, and future potential.
The property is located at 308 High St in Oregon City, positioned across from Promenade Park. The setting provides views toward historic downtown Oregon City and Willamette Falls. The area offers walkable access to downtown Oregon City and Main Street shops, coffee, restaurants, pubs, river viewpoints, and Willamette Falls views, as well as nearby outdoor spaces including Clackamette Park and Canemah, plus access to Providence Willamette Falls Medical Center, Clackamas Community College, and commuter routes. Street parking is available.
For buyers seeking an income-oriented residential property, the current configuration and recent renovations support a straightforward rental layout with demonstrated attention to core systems and building envelope. Buyer to verify unit configuration, rents, expenses, square footage, zoning, legal use, and future potential.
Key Highlights
- Three‑unit multifamily built in 1905, configured with one unit on each level
- Exterior improvements in 2025: roof, siding, gutters, kitchen porch and porch roof, dormer repairs, select windows, porch rail and fencing repairs
- Interior updates include kitchen cabinet and appliance updates, lighting fixtures, bathroom updates, fresh paint, and heating and plumbing repairs as needed
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 | $78.1k | $24.60 |
| − Vacancy | −$4.0k | −$1.25 |
| EGI | $74.1k | $23.35 |
| − OpEx | −$33.3k | −$10.51 |
| NOI | $40.8k | $12.84 |
3,174 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$582.2K
$509.4K – $679.2K
NOI $40,754 @ 7.0% cap · market cap 6.79%
Second Best
Multifamily LT 5
$569.6K
$498.4K – $664.5K
NOI $39,869 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$856.7K
$749.7K – $999.5K
NOI $59,972 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Three-unit property across from a park with recent exterior and interior improvements for rental-ready occupancy.
Where is this triplex located?
The property is located at 308 HIGH ST Oregon City, OR.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Three‑unit multifamily built in 1905, configured with one unit on each level; Exterior improvements in 2025: roof, siding, gutters, kitchen porch and porch roof, dormer repairs, select windows, porch rail and fencing repairs; Interior updates include kitchen cabinet and appliance updates, lighting fixtures, bathroom updates, fresh paint, and heating and plumbing repairs as needed
