Triplex with Metal
For Sale
$399,000
377 E Current St, Athena, OR 97813
MULTI_FAMILY - Athena, OR
Property Size2,592 SF
Lot Size0.13 Acres
Price / SF$153.94
Days on Market102
Property Features for 377 E Current St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-COM
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1, Bedroom 5, Bedroom 6, Bedroom 2, Bedroom 4, Bathroom 1
View
City
Elementary school
Athena
Middle school
Athena-Weston
High school
Weston-McEwen
Directions
S. 4th, E. Current
Subdivision
_437
Standard status
Active
APN
116025
Size
2,592 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
SEC 19 TWN 04N RNG 35, Tax lot 2000 Tri-plex house numbers 377,379,381 E. Current Athena, Or.
Tax Annual Amount
5324
Legal Description
SEC 19 TWN 04N RNG 35, Tax lot 2000 Tri-plex house numbers 377,379,381 E. Current Athena, Or.
Building Details
Year built
2003
Floors in Building
1
Number of units
3
Roof type
Metal
Listing Agency:
Coldwell Banker Farley Company · Coldwell Banker Real Estate
(541) 276-0021
Listed By:
Jerry Baker · License #201211883
(541) 969-6378
Added: May 11
Changed: Aug 13
Last Checked: Aug 20 at 5:06AM
MLS# 364861707
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex offers a practical residential income setup with a metal roof and a total of 2,592 square feet (m/l). The property sits on a 0.13-acre lot and was built in 2003. Rooms include multiple bedrooms and bathrooms across the home’s layout, and two units are currently occupied.
Located at 377 E Current St in Athena, Oregon (97813), the property is within Umatilla County and zoned R-COM. It’s configured as a triplex, making it well suited for buyers looking for multi-unit housing rather than a single-family arrangement.
For underwriting and operating considerations, the key confirmed factors here are the triplex configuration, overall size, lot size, year built, and current occupancy of two units.
Located at 377 E Current St in Athena, Oregon (97813), the property is within Umatilla County and zoned R-COM. It’s configured as a triplex, making it well suited for buyers looking for multi-unit housing rather than a single-family arrangement.
For underwriting and operating considerations, the key confirmed factors here are the triplex configuration, overall size, lot size, year built, and current occupancy of two units.
Key Highlights
- Triplex built in 2003
- Metal roof
- 2,592 total square feet (m/l)
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
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
87
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Triplex in R-COM zoning with a metal roof and two units currently occupied.
Where is this triplex located?
The property is located at 377 E Current 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: Triplex built in 2003; Metal roof; 2,592 total square feet (m/l)
