Four-Unit Multifamily
New
For Sale
$500,000
316 SW 1st Street, Madras, OR 97741
Residential Income, Madras, OR
Property Size3,250 SF
Lot Size0.34 Acres
Price / SF$153.85
Days on Market2
Property Features for 316 SW 1st Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C-1 Commercial
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 6, Bedroom 1, Bedroom 5, Bathroom 4, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 2, Bathroom 3
Parking features
On Street
Window features
Single Pane Window(s)
Appliances
Electric Cooktop, Electric Oven, Refrigerator, Electric Cooktop, Electric Oven, Refrigerator
Elementary school district
Outside Area
Middle school district
Outside Area
High school district
Outside Area
Directions
from SW Culver Hwy, take the SW Madison St exit. Turn left on F St and then left on SW 1st. Property is on the left.
Standard status
Active
APN
9493
Size
3,250 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2078
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Ductless
Water source
Public
Building Details
Year built
1979
Floors in Building
2
Number of units
4
Flooring type
Carpet, Tile, Laminate
Building materials
Block, Brick, Frame
Roof type
Metal
Architectural style
Other
Listing Agency:
Emerald Coast Realty - Depoe Bay
(541) 283-3592
Listed By:
Geoffrey Michael Groener · License #200410294
(541) 390-4488
Added: Oct 16
Last Checked: Oct 17 at 2:06AM
MLS# 26-2737
Copyright © 2026 Oregon Coast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The property contains two buildings totaling 3,250 square feet, with four residential units: two one-bedroom apartments and two two-bedroom apartments. The buildings sit on a 0.34-acre lot and are zoned C-1 Commercial. Interior finishes include carpet, tile, and laminate flooring; heating and cooling are ductless. Construction materials include block, brick, and frame.
Public water and sewer serve the property, and parking is available on the street. The unit mix spans a three-unit building and a separate single-unit building.
Public water and sewer serve the property, and parking is available on the street. The unit mix spans a three-unit building and a separate single-unit building.
Key Highlights
- Two buildings with four units: two one‑bedroom and two two‑bedroom residences
- 3,250 square feet of building area on a 0.34‑acre lot
- C‑1 Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,622
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$832,440
$832.4K
Cap Rate 7%
$594,600
$594.6K
Cap Rate 9%
$462,467
$462.5K
Market Conditions
NOI Build-Up for 3,250 SF
Gross rent
$81.9K $25.20/SF
− Vacancy
−$6.2K −$1.92/SF
EGI
$75.7K $23.28/SF
− OpEx
−$34.1K −$10.48/SF
NOI
$41.6K $12.81/SF
Area
Jefferson County, OR
Vacancy
7.60%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$832,440
Cap Rate 7%
$594,600
Cap Rate 9%
$462,467
Alternative Uses
Best Use
Apartment 5plus
$594.6K
$520.3K – $693.7K
NOI $41,622 @ 7.0% cap · market cap 8.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.40M
$1.23M – $1.64M
NOI $98,280 @ 7.0% cap · market cap 19.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
567
Businesses Nearby
Explore this area
Business Placement
Demographics for 97741, OR
13,753
Population
4,777
Households
2.9
Avg Household Size
39
Median Age
21%
College-Educated
86%
High-School Grad
363.9 sq mi
ZIP Area
38
Density / Sq Mi
$69,696
Median Household Income
$37,641
Median Earnings
$993
Median Rent
$308,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two separate buildings offer one- and two-bedroom residences with C-1 Commercial zoning.
Where is this multifamily property located?
The property is located at 316 SW 1st Street Madras, OR.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two buildings with four units: two one‑bedroom and two two‑bedroom residences; 3,250 square feet of building area on a 0.34‑acre lot; C‑1 Commercial zoning
