Four-Unit Quadplex with
For Sale
$925,000
320 Monmouth Ave S, Monmouth, OR 97361
Four-bedroom residences with on-site parking and select updates provide a practical multifamily configuration.
Property Size5,568 SF
Price / SF$166.13
Days on Market40
Property Features for 320 Monmouth Ave S
General Information
Standard status
Active
Size
5,568 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 4BR
Multifamily Units
4
Building Details
Year Built
2003
Listing Agency:
Made Out West Land Company, LLC
(503) 857-7780
Listed By:
Cory Spink · License #201217354
Source:
Oregonhomeshop
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 29 at 12:35PM
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$66,873
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,337,460
$1.3M
Cap Rate 7%
$955,329
$955.3K
Cap Rate 9%
$743,033
$743.0K
Market Conditions
NOI Build-Up for 5,568 SF
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $66,873 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$879.8K
$769.8K – $1.03M
NOI $61,584 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,485 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 $925,000.
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
