Four-Home Multifamily
For Sale
$450,000
32120 Nichols LN, Cottage Grove, OR 97424
Four residential structures share one parcel with separate septic systems and a common well.
Property Size1,456 SF
Price / SF$309.07
Days on Market52
Property Features for 32120 Nichols LN
General Information
Standard status
Active
Size
1,456 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
the 2 front homes are in poor condition
Additional Details
Multifamily Units
4
Building Details
Year Built
1960
Buildings
4
Listing Agency:
Knipe Realty Era Powered
Listed By:
NW Pacific Realty
(503) 783-9401
Source:
Nwpacificrealty
Added: Sep 9
Changed: Oct 28
Last Checked: Oct 28 at 7:26AM
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 Knipe Realty Era Powered
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Investment Insights
Based on property information with market context.
This multifamily property includes four homes on one parcel: one stick-built residence and three manufactured homes. The property encompasses over 2 acres and is served by one shared well along with four individual septic systems. The two homes at the front of the parcel are reported to be in poor condition, and the sale is offered as-is with no repairs by the seller.
The parcel is described as potentially dividable, subject to the buyer’s independent due diligence and applicable requirements. The property dates to 1960 and offers a four-home configuration with separate wastewater systems across the site.
The parcel is described as potentially dividable, subject to the buyer’s independent due diligence and applicable requirements. The property dates to 1960 and offers a four-home configuration with separate wastewater systems across the site.
Key Highlights
- Four homes on over 2 acres
- One stick‑built home and three manufactured homes
- One shared well serves the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,307
Cap Rate
2.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$266,140
$266.1K
Cap Rate 7%
$190,100
$190.1K
Cap Rate 9%
$147,856
$147.9K
Market Conditions
NOI Build-Up for 1,456 SF
Gross rent
$25.7K $17.64/SF
− Vacancy
−$1.5K −$1.02/SF
EGI
$24.2K $16.62/SF
− OpEx
−$10.9K −$7.48/SF
NOI
$13.3K $9.14/SF
Area
Lane County, OR
Vacancy
5.80%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$266,140
Cap Rate 7%
$190,100
Cap Rate 9%
$147,856
Alternative Uses
Best Use
Apartment 5plus
$190.1K
$166.3K – $221.8K
NOI $13,307 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$368.3K
$322.3K – $429.7K
NOI $25,784 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
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Business Placement
Demographics for 97424, OR
18,750
Population
7,920
Households
2.4
Avg Household Size
45
Median Age
22%
College-Educated
91%
High-School Grad
246.2 sq mi
ZIP Area
76
Density / Sq Mi
$71,985
Median Household Income
$36,588
Median Earnings
$1,012
Median Rent
$349,700
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 - Four residential structures share one parcel with separate septic systems and a common well.
Where is this multifamily property located?
The property is located at 32120 Nichols LN Cottage Grove, OR.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Four homes on over 2 acres; One stick‑built home and three manufactured homes; One shared well serves the property
