Four-Unit Duplex
For Sale
$465,000
3614 Summers Lane Klamath, Klamath Falls, OR 97603
Two duplex buildings totaling four occupied units, each with private entrances, parking, and a dedicated garage.
Property Size2,620 SF
Days on Market194
Property Features for 3614 Summers Lane Klamath
General Information
Standard status
Active
Size
2,620 SF
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Multifamily Units
4
Amenities
laundry area
original built-ins
private front and side entrances
Electric
Range
Refrigerator
Water Heater
Composition
Building Details
Building Size
2,620 SF
Year Built
1952
Listing Agency:
Keller Williams Southern Oregon, Klamath Falls
(425) 999-2335
Listed By:
Erica Abel · License #200508249
(425) 999-2335
Source:
Kw
Added: Feb 11
Changed: Aug 23
Last Checked: Aug 22 at 9:04AM
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 Keller Williams Southern Oregon, Klamath Falls
Investment Insights
Based on property information with market context.
Well-maintained multifamily income property consisting of two duplex buildings with four total units. Each unit features a spacious living room, eat-in kitchen, laundry area, original built-ins for storage, an updated bathroom, and a well-sized bedroom. Units also provide private front and side entrances. Recent exterior improvements include newer siding, windows, and exterior paint.
The property includes generous parking and four individual garages, with all units currently occupied by long-term tenants.
This is a turnkey four-unit setup designed for straightforward day-to-day occupancy, with established tenant presence and maintained exterior components.
The property includes generous parking and four individual garages, with all units currently occupied by long-term tenants.
This is a turnkey four-unit setup designed for straightforward day-to-day occupancy, with established tenant presence and maintained exterior components.
Key Highlights
- 1952‑built multifamily income property with 2 duplex buildings and 4 total units, all currently occupied by long‑term tenants
- Each unit offers a living room, eat‑in kitchen, laundry area, and a well‑sized bedroom
- Units feature private front and side entrances plus updated bathrooms
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
$21,355
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
4.59%
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%
$427,100
$427.1K
Cap Rate 7%
$305,071
$305.1K
Cap Rate 9%
$237,278
$237.3K
Market Conditions
NOI Build-Up for 2,620 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
$33.3K $12.72/SF
− Vacancy
−$2.8K −$1.08/SF
EGI
$30.5K $11.64/SF
− OpEx
−$9.2K −$3.49/SF
NOI
$21.4K $8.15/SF
Area
Klamath County, OR
Vacancy
8.46%
Lease Rate
$12.72 /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%
$427,100
Cap Rate 7%
$305,071
Cap Rate 9%
$237,278
Alternative Uses
Best Use
Multifamily LT 5
$305.1K
$266.9K – $355.9K
NOI $21,355 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$270.1K
$236.3K – $315.1K
NOI $18,904 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$535.5K
$468.6K – $624.8K
NOI $37,487 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Explore this area
Business Placement
Demographics for 97603, OR
31,302
Population
13,568
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
91%
High-School Grad
340.6 sq mi
ZIP Area
92
Density / Sq Mi
$64,272
Median Household Income
$41,124
Median Earnings
$987
Median Rent
$251,100
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 - Two duplex buildings totaling four occupied units, each with private entrances, parking, and a dedicated garage.
Where is this quadplex located?
The property is located at 3614 Summers Lane Klamath Klamath Falls, OR.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 1952‑built multifamily income property with 2 duplex buildings and 4 total units, all currently occupied by long‑term tenants; Each unit offers a living room, eat‑in kitchen, laundry area, and a well‑sized bedroom; Units feature private front and side entrances plus updated bathrooms
