Three-Unit Multifamily
For Sale
$574,900
308 HIGH St, Oregon City, OR 97045
MultiFamily, OregonCity, OR
Property Size3,174 SF
Lot Size0.08 Acres
Price / SF$181.13
Days on Market148
Property Features for 308 HIGH St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3.5
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 7, Bedroom 6, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 5, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 3
Subdivision
MCLOUGHLIN
Elementary school
Holcomb
Middle school
Gardiner
High school
Oregon City
Directions
From OR 99E, head east on 7th St, left on High St to property. DND tenants.
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
Legal Description
2 OREGON CITY PT LT 6 BLK 36
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
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: May 21
Changed: Oct 14
Last Checked: Oct 15 at 11:06AM
MLS# 727175603
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.
Built in 1905, this 3,174-square-foot triplex contains one residence on each level and sits on a 0.08-acre lot. The property is zoned R3.5 and uses forced-air heating. Work completed in 2025 included a composition roof, siding, gutters, porch components, dormer repairs, selected windows, railings, and fencing. Interior improvements included kitchen cabinetry and appliances, lighting, bathrooms, heating, plumbing, paint, and attic finish work. Updated electrical panels, furnaces, and water heaters serve the basement utility area.
Located at 308 High St in Oregon City, the property is across from Promenade Park, with views toward historic downtown and Willamette Falls. Downtown shops, restaurants, coffee, pubs, river viewpoints, Clackamette Park, Canemah, Providence Willamette Falls Medical Center, Clackamas Community College, and commuter routes are nearby. Street parking is available.
Located at 308 High St in Oregon City, the property is across from Promenade Park, with views toward historic downtown and Willamette Falls. Downtown shops, restaurants, coffee, pubs, river viewpoints, Clackamette Park, Canemah, Providence Willamette Falls Medical Center, Clackamas Community College, and commuter routes are nearby. Street parking is available.
Key Highlights
- Three units arranged with one residence on each level
- 3,174 square feet on a 0.08‑acre lot
- 2025 exterior work included roof, siding, gutters, porches, windows, and fencing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,754
Cap Rate
7.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$815,080
$815.1K
Cap Rate 7%
$582,200
$582.2K
Cap Rate 9%
$452,822
$452.8K
Market Conditions
NOI Build-Up for 3,174 SF
Gross rent
$78.1K $24.60/SF
− Vacancy
−$4.0K −$1.25/SF
EGI
$74.1K $23.35/SF
− OpEx
−$33.3K −$10.51/SF
NOI
$40.8K $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%
$815,080
Cap Rate 7%
$582,200
Cap Rate 9%
$452,822
Alternative Uses
Best Use
Apartment 5plus
$582.2K
$509.4K – $679.2K
NOI $40,754 @ 7.0% cap · market cap 7.09%
Second Best
Multifamily LT 5
$569.6K
$498.4K – $664.5K
NOI $39,869 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$856.7K
$749.7K – $999.5K
NOI $59,972 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,176
Businesses Nearby
Explore this area
Business Placement
Demographics for 97045, OR
57,403
Population
21,702
Households
2.6
Avg Household Size
41
Median Age
33%
College-Educated
95%
High-School Grad
86.8 sq mi
ZIP Area
661
Density / Sq Mi
$100,388
Median Household Income
$49,342
Median Earnings
$1,600
Median Rent
$563,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Historic three-level rental property with updated systems, exterior improvements, and access to Oregon City’s downtown core.
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 $574,900.
What are key features of this property?
This property features: Three units arranged with one residence on each level; 3,174 square feet on a 0.08‑acre lot; 2025 exterior work included roof, siding, gutters, porches, windows, and fencing
