Two-Story Triplex with
For Sale
$540,000
Pending
3426 Marion St SE, Albany, OR 97322
Three residential units feature open main-level layouts, attached garages, and separate fenced rear yards.
Property Size3,027 SF
Lot Size0.32 Acres
Days on Market33
Property Features for 3426 Marion St SE
General Information
Standard status
Pending
Size
3,027 SF
Lot size
0.32 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1976
Stories
2
Listing Agency:
BLUM REAL ESTATE
(503) 485-1900
Listed By:
GLADYS BLUM
Source:
Oregonhomeshop
Added: Jul 30
Changed: Aug 30
Last Checked: Aug 30 at 7:43PM
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 BLUM REAL ESTATE
Investment Insights
Based on property information with market context.
This two-story triplex contains three residential units within a 3,027-square-foot building constructed in 1976. Each residence includes an open main level with a great room, fully equipped kitchen, interior utility area, half bath, and patio access. Upstairs, the primary suite includes a walk-in closet and full bathroom. Attached garages and separate fenced rear yards provide dedicated space for each unit.
The property occupies a .32-acre parcel at 3426 Marion St SE in Albany, Oregon. Transportation, shopping, and schools are located nearby. A new roof is identified for 2026, adding a recently planned capital improvement to the existing multifamily configuration.
The property occupies a .32-acre parcel at 3426 Marion St SE in Albany, Oregon. Transportation, shopping, and schools are located nearby. A new roof is identified for 2026, adding a recently planned capital improvement to the existing multifamily configuration.
Key Highlights
- Three‑unit multifamily property with 3,027 SF of building area
- Each unit includes an attached garage and fenced rear yard
- Open main‑level layouts with great room, kitchen, utility area, and half bath
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
$28,574
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
5.29%
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%
$571,480
$571.5K
Cap Rate 7%
$408,200
$408.2K
Cap Rate 9%
$317,489
$317.5K
Market Conditions
NOI Build-Up for 3,027 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
$41.8K $13.80/SF
− Vacancy
−$952 −$0.31/SF
EGI
$40.8K $13.49/SF
− OpEx
−$12.2K −$4.05/SF
NOI
$28.6K $9.44/SF
Area
Linn County, OR
Vacancy
2.28%
Lease Rate
$13.80 /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%
$571,480
Cap Rate 7%
$408,200
Cap Rate 9%
$317,489
Alternative Uses
Best Use
Multifamily LT 5
$408.2K
$357.2K – $476.2K
NOI $28,574 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$376.0K
$329.0K – $438.7K
NOI $26,323 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$881.8K
$771.6K – $1.03M
NOI $61,728 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
186
Businesses Nearby
Explore this area
Business Placement
Demographics for 97322, OR
37,148
Population
14,867
Households
2.5
Avg Household Size
37
Median Age
22%
College-Educated
91%
High-School Grad
63.3 sq mi
ZIP Area
587
Density / Sq Mi
$68,536
Median Household Income
$43,530
Median Earnings
$1,335
Median Rent
$321,200
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?
Triplex - Three residential units feature open main-level layouts, attached garages, and separate fenced rear yards.
Where is this triplex located?
The property is located at 3426 Marion St SE Albany, OR.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 3,027 SF of building area; Each unit includes an attached garage and fenced rear yard; Open main‑level layouts with great room, kitchen, utility area, and half bath
