Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Oregon City Multifamily Investment Title is generated by Realmo AI

    308 HIGH St, Oregon City, OR 97045

    View on Map
    Claim this Listing
    For Sale
    $599,900

    MULTI_FAMILY - OregonCity, OR

    Property size:
    3,174 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $189/SF
    Added:
    May 21, 2026
    Days on Market:
    12
    Last Refresh:
    Jun 1 at 2:06 pm

    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 5, Bathroom 2, Bedroom 4, Bathroom 3, Bedroom 6, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 7, Bedroom 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

    We can help!

    Listing Contact
    Darryl Bodle
    Darryl Bodle

    Listing agent Darryl Bodle License #199910100

    Listing office Keller Williams Realty Portland Premiere 7504 SW Bridgeport Rd, Portland, OR

    Listing date May 21, 2026

    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.

    HighLights

    • Income‑generating three‑unit multifamily property in a desirable historic location.
    • Enjoy views of Promenade Park, downtown Oregon City, and Willamette Falls.
    • Substantial exterior renovations completed in 2025, including roof, siding, and window replacement.
    • Interior unit updates including kitchens, bathrooms, lighting, and appliances.
    • Updated essential systems: electrical panels, furnaces, and water heaters.
    • Walkable access to downtown Oregon City, shops, restaurants, parks, and medical facilities.

    Overview

    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.

    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 (±1% cap)
    NOI $40,754 @ 7.0% cap · market cap 6.79%
    Second Best
    Multifamily LT 5
    $569.6K
    $498.4K – $664.5K (±1% cap)
    NOI $39,869 @ 7.0% cap · market cap 6.65%
    Theoretical Best
    Office A
    $856.7K
    $749.7K – $999.5K (±1% cap)
    NOI $59,972 @ 7.0% cap · market cap 10.00%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oregon City
    County
    Clackamas
    State
    Oregon
    Longitude
    -122.609336
    Latitude
    45.354371

    Nearby Similar for Sale

    • $399,900
      1,980 SF

      Oregon City Duplex Income Opportunity

      Leased duplex with income, improvements, parking, and future upside.
      715 S MCLOUGHLIN Blvd, OregonCity, OR 97045
      View Details
    • $995,000
      2,932 SF

      Remodeled Fourplex on Corner Lot

      Midcentury fourplex with remodeled units, balconies, and fenced yards.
      718 9TH St, OregonCity, OR 97045
      View Details
    • $945,000
      4,009 SF

      Downtown Oregon City Commercial Building

      Unique commercial building in downtown Oregon City with redevelopment potential.
      720 MAIN, OregonCity, OR 97045
      View Details
    • $350,000
      1,344 SF

      Updated Duplex in Downtown OregonCity

      Updated duplex near downtown Oregon City shops and restaurants.
      1016 CENTER St, OregonCity, OR 97045
      View Details
    • $499,000
      1,453 SF

      Renovated Duplex in Oregon City

      Fully permitted, renovated duplex with modern amenities and separate entrances.
      418 DEWEY St, OregonCity, OR 97045
      View Details
    • $1,900,000
      13,989 SF

      Downtown Oregon City Commercial Building

      Versatile commercial building in downtown Oregon City with parking.
      900 MAIN, OregonCity, OR 97045
      View Details
    • $500,000
      3,049 SF

      Historic Oregon City Retail Opportunity

      Retail space with active license in historic Oregon City.
      309 17TH, OregonCity, OR 97045
      View Details
    • $1,090,000
      5,292 SF

      Clackamas County Religious Facility

      Rural religious facility suitable for church, school, retreat, or nonprofit.
      14767 South Henrici Road, Oregon City, OR 97045
      View Details
    • Contact for pricing
      5,747 SF

      Freestanding Building on Full Acre

      Single-story commercial building with flexible interior and abundant parking.
      Oregon City, OR 97045
      View Details
    • $995,000
      733 SF

      Remodeled Fourplex on Corner Lot

      Midcentury fourplex with remodeled units, balconies, and private yards.
      718 9th Street, Oregon City, OR 97045
      View Details
    • $300,000
      2,500 SF

      Oregon City Cannabis Cultivation Opportunity

      Licensed Tier II cannabis farm with expansion potential near Portland.
      Geiger Rd, OregonCity, OR 97045
      View Details
    • $1,090,000
      5,292 SF

      Religious Facility in Clackamas County

      Peaceful religious facility ideal for continued church or retreat use.
      14767 S Henrici Rd, Oregon City, OR 97045
      View Details

    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: Income‑generating three‑unit multifamily property in a desirable historic location.; Enjoy views of Promenade Park, downtown Oregon City, and Willamette Falls.; Substantial exterior renovations completed in 2025, including roof, siding, and window replacement.
    (503) 709-4632
    We can help!
    Listing Contact
    Darryl Bodle
    Darryl Bodle
    Real Estate License ID: 199910100
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    308 HIGH St, OregonCity, OR 97045
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!