Oregon City Multifamily
308 HIGH St Oregon City, OR 97045
308 HIGH St, Oregon City, OR, 97045
$599,900
For Sale
$599,900
MULTI_FAMILY - OregonCity, OR
Property Size3,174 SF
Lot Size0.08 Acres
Price / SF$189
Days on Market57
Property Features for 308 HIGH St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R3.5
- Bedrooms
- 7
- Bathrooms
- 3
- Rooms
- Bedroom 3, Bedroom 7, Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 1, Bathroom 3, Bedroom 6, Bathroom 1
- Standard status
- Active
- APN
- 00573828
- Size
- 3,174 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Description
- 2 OREGON CITY PT LT 6 BLK 36
- Tax Annual Amount
- 4074
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1905
- Floors in Building
- 3
- Number of units
- 3
- Roof type
- Composition
Listing Agency
Keller Williams Realty Portland Premiere
(503) 597-2444
7504 SW Bridgeport Rd, Portland, OR
Listed by
Darryl Bodle · License #199910100
(503) 709-4632
Added: May 21 Checked: Jul 16 at 5:06 pm
MLS# 727175603
Listing URL
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 three-unit multifamily property, built in 1905, presents an income opportunity in a recognizable historic area of Oregon City. Configured with one unit on each level, the property offers an established rental profile. Located across from Promenade Park, it features views toward historic downtown Oregon City and Willamette Falls. Substantial exterior work was completed in 2025, including roof, siding, and gutter replacement, kitchen porch and porch roof replacement, dormer window repairs, select window replacement, porch rail repairs, and fencing repairs. Interior updates include updated kitchen cabinets and appliances, lighting fixtures, bathroom updates, heating updates, plumbing repairs, fresh paint, and attic finish work. The basement utility area was improved with updated electrical panels, furnaces, and water heaters. The location provides access to downtown Oregon City, the Municipal Elevator, Main Street shops, coffee, restaurants, pubs, river viewpoints, Willamette Falls views, Clackamette Park, Canemah, Providence Willamette Falls Medical Center, Clackamas Community College, and commuter routes. Tenants benefit from walkable access to scenic outdoor spaces, local dining, daily services, and the downtown core. The property has a lot size of 0.08 acres and a property size of 3174 square feet. Zoning is R3.5. Street parking is available.
Key Highlights
- Three‑unit multifamily property built in 1905 with one unit on each level
- Exterior updates in 2025: roof, siding, and gutters; porch kitchen/porch roof; dormer repairs; select window replacement; porch rail and fencing repairs
- Interior updates include updated kitchen cabinets and appliances, lighting fixtures, bathroom updates, heating and plumbing repairs, and fresh paint
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 | $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
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit multifamily property with in-place income and historic setting.
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 property built in 1905 with one unit on each level; Exterior updates in 2025: roof, siding, and gutters; porch kitchen/porch roof; dormer repairs; select window replacement; porch rail and fencing repairs; Interior updates include updated kitchen cabinets and appliances, lighting fixtures, bathroom updates, heating and plumbing repairs, and fresh paint
