Garden-Style Apartment
3659 W 18th Avenue, Eugene, OR 97402
For Sale
$24,500,000
Residents have access to a community room, recreation room, basketball court, and playground.
Property Size113,974 SF
Lot Size13.50 Acres
Price / SF$214.96
Days on Market203
Property Features for 3659 W 18th Avenue
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Neighborhood
Road Access
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
community room
rec room
basketball court
playground
Ceiling Fan(s)
Laminate Counters
Shower/Tub Combo
Building Details
Building Size
Year Built
Stories
Units
Construction
Listing Agency:
Century 21 North Homes Realty
(541) 548-2131
Listed By:
Corey J Clark · License OR #200506069
(541) 350-0690
Source:
Desertskyrealestate
Added: Apr 23
Changed: Nov 10
Last Checked: Nov 10 at 1:57PM
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 Century 21 North Homes Realty
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Investment Insights
Based on property information with market context.
This 127-unit garden-style apartment property occupies 13.5 acres and contains 113,974 square feet. The community includes open green areas, a community room, a recreation room, a basketball court, and a playground. Ductless heating and cooling units were installed in all apartments last year. Roof replacements have been completed on most buildings within the past 10 years. The property was built in 1972 and is zoned R1.
The property is located at the corner of West 18th Avenue and Bailey Hill Road in Eugene. It is held as one tax lot.
The property is located at the corner of West 18th Avenue and Bailey Hill Road in Eugene. It is held as one tax lot.
Key Highlights
- 127 garden‑style apartment units
- 13.5‑acre property with 113,974 square feet
- Ductless heating and cooling units installed in all units last year
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$891,842
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,836,840
$17.8M
Cap Rate 7%
$12,740,600
$12.7M
Cap Rate 9%
$9,909,356
$9.9M
Market Conditions
NOI Build-Up for 113,974 SF
Gross rent
$1.64M $14.40/SF
− Vacancy
−$19.7K −$0.17/SF
EGI
$1.62M $14.23/SF
− OpEx
−$729.7K −$6.40/SF
NOI
$891.8K $7.82/SF
Area
Eugene, OR
Vacancy
1.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,836,840
Cap Rate 7%
$12,740,600
Cap Rate 9%
$9,909,356
Alternative Uses
Best Use
Apartment 5plus
$12.74M
$11.15M – $14.86M
NOI $891,842 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$34.39M
$30.09M – $40.12M
NOI $2,407,131 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
127
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
506
Businesses Nearby
Explore this area
Business Placement
Demographics for 97402, OR
56,610
Population
23,882
Households
2.4
Avg Household Size
38
Median Age
26%
College-Educated
91%
High-School Grad
68.6 sq mi
ZIP Area
825
Density / Sq Mi
$55,743
Median Household Income
$35,728
Median Earnings
$1,287
Median Rent
$330,000
Median Home Value
Market
Properties on Market for Apartment buildings in Lane County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Residents have access to a community room, recreation room, basketball court, and playground.
Where is this apartment building located?
The property is located at 3659 W 18th Avenue Eugene, OR.
What is the asking price?
The asking price for this property is $24,500,000.
What are key features of this property?
This property features: 127 garden‑style apartment units; 13.5‑acre property with 113,974 square feet; Ductless heating and cooling units installed in all units last year
