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Building Details

Year Built 2003

Listing Agency: MADE OUT WEST LAND COMPANY, LLC

Listed By: CORY SPINK · License #201217354 Show Phone

Source: Oregonhomeshop

Added: Jul 21 Changed: Oct 8 Last Checked: Oct 7 at 2:25PM

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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 MADE OUT WEST LAND COMPANY, LLC

Investment Insights

Based on property information with market context.

This 5,568-square-foot quadplex was built in 2003 and contains four four-bedroom units. The property includes off-street, on-site parking, some completed updates, and appliances that will remain with the sale. Tenants are in place, and showings should be coordinated without disturbing occupants.

The building sits behind the historic Burford-Stanley House and is a short distance from Western Oregon University’s campus and other points of interest in Monmouth. Its four-unit layout offers a consistent residential configuration across the property.

Key Highlights

• Four‑unit quadplex with four 4 bed units
• 5,568 SF building constructed in 2003
• Off‑street, on‑site parking included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$66,873

Cap Rate

7.43%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,337,460 $1.3M

Cap Rate 7%

$955,329 $955.3K

Cap Rate 9%

$743,033 $743.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,568 SF

Gross rent

$102.2K $18.36/SF

− Vacancy

−$6.7K −$1.20/SF

EGI

$95.5K $17.16/SF

− OpEx

−$28.7K −$5.15/SF

NOI

$66.9K $12.01/SF

Area

Polk County, OR

Vacancy

6.55%

Lease Rate

$18.36 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,337,460

Cap Rate 7%

$955,329

Cap Rate 9%

$743,033

Alternative Uses

Best Use

Multifamily LT 5

$955.3K

$835.9K – $1.11M (±1% cap)

NOI $66,873 @ 7.0% cap · market cap 7.43%

Second Best

Apartment 5plus

$879.8K

$769.8K – $1.03M (±1% cap)

NOI $61,584 @ 7.0% cap · market cap 6.84%

Theoretical Best

Office A

$1.48M

$1.29M – $1.72M (±1% cap)

NOI $103,485 @ 7.0% cap · market cap 11.50%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Quadplexes

Suggested Use

Top Pick Kitchen & Bath Showroom Auto Parts Store (Bike/Boat/Book/etc) Store Skin Care Clinic Garden Center Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

456

Businesses Nearby

Explore this area Business Placement

Demographics for 97361, OR

13,412

Population

4,858

Households

2.8

Avg Household Size

29

Median Age

28%

College-Educated

94%

High-School Grad

132.9 sq mi

ZIP Area

101

Density / Sq Mi

$70,625

Median Household Income

$28,812

Median Earnings

$1,128

Median Rent

$407,100

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Four-bedroom residences with on-site parking and select updates provide a practical multifamily configuration.

Where is this quadplex located?

The property is located at 320 Monmouth Ave S Monmouth, OR.

What is the asking price?

The asking price for this property is $899,900.

What are key features of this property?

This property features: Four‑unit quadplex with four 4 bed units; 5,568 SF building constructed in 2003; Off‑street, on‑site parking included