Three-Unit
New
For Sale
$399,000
377 E Currant St, Athena, OR 97813
Athena property with two units currently occupied.
Property Size2,592 SF
Price / SF$153.94
Days on Market2
Property Features for 377 E Currant St
General Information
Standard status
Active
Size
2,592 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
2003
Listing Agency:
Coldwell Banker Farley Company
Listed By:
Jerry Baker · License #201211883
(541) 276-0021
Source:
Christiesrealestateevg
Added: Sep 4
Last Checked: Sep 4 at 7:39AM
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 Coldwell Banker Farley Company
Investment Insights
Based on property information with market context.
This triplex contains three residential units within approximately 2,592 square feet of total building area. Constructed in 2003, the property currently has two occupied units.
Located at 377 E Currant St in Athena, Oregon, the asset offers an established residential configuration with existing occupancy in most of the units.
Located at 377 E Currant St in Athena, Oregon, the asset offers an established residential configuration with existing occupancy in most of the units.
Key Highlights
- Three‑unit triplex built in 2003
- Approximately 2,592 total square feet
- Two units currently occupied
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
$12,084
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
3.03%
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%
$241,680
$241.7K
Cap Rate 7%
$172,629
$172.6K
Cap Rate 9%
$134,267
$134.3K
Market Conditions
NOI Build-Up for 2,592 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
$18.7K $7.20/SF
− Vacancy
−$1.4K −$0.54/SF
EGI
$17.3K $6.66/SF
− OpEx
−$5.2K −$2.00/SF
NOI
$12.1K $4.66/SF
Area
Umatilla County, OR
Vacancy
7.50%
Lease Rate
$7.20 /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%
$241,680
Cap Rate 7%
$172,629
Cap Rate 9%
$134,267
Alternative Uses
Best Use
Multifamily LT 5
$172.6K
$151.1K – $201.4K
NOI $12,084 @ 7.0% cap · market cap 3.03%
Second Best
Apartment 5plus
$159.1K
$139.2K – $185.6K
NOI $11,137 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$542.6K
$474.8K – $633.0K
NOI $37,982 @ 7.0% cap · market cap 9.52%
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
79
Businesses Nearby
Explore this area
Business Placement
Demographics for 97813, OR
1,386
Population
614
Households
2.3
Avg Household Size
44
Median Age
32%
College-Educated
93%
High-School Grad
53.8 sq mi
ZIP Area
26
Density / Sq Mi
$73,688
Median Household Income
$38,438
Median Earnings
$868
Median Rent
$217,200
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 - Athena property with two units currently occupied.
Where is this triplex located?
The property is located at 377 E Currant St Athena, OR.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Three‑unit triplex built in 2003; Approximately 2,592 total square feet; Two units currently occupied
