10-Unit Residential Income
For Sale
$2,500,000
4355 Riverview Avenue, West Linn, OR 97068
Ten uniformly planned 3-bedroom units with private yards and decks, plus dedicated parking, offer a straightforward 10-unit income setup.
Property Size13,500 SF
Price / SF$185.19
Days on Market106
Property Features for 4355 Riverview Avenue
General Information
Standard status
Active
Size
13,500 SF
Property subtype
Multi-family
Building Details
Year Built
1972
Listing Agency:
Apex Residential
Listed By:
Jordan Fezler
(877) 319-7625
Source:
Century21northhomes
Added: May 23
Changed: Sep 4
Last Checked: Sep 4 at 9:57AM
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 Apex Residential
Investment Insights
Based on property information with market context.
Riverview Heights is a 10-unit residential income property featuring a uniform floor plan across all residences. Each unit offers 3 bedrooms and 1.5 baths, with private yards and decks, in-unit washer/dryer hookups, and dedicated parking. The property is arranged on six separate tax lots, providing flexibility around how ownership can be held over time.
The property is located at 4355 Riverview Avenue in West Linn, with immediate access to I-205 and SR-43, supporting connectivity to Lake Oswego, downtown Portland, and the broader South Metro.
This is an income-focused multifamily asset with consistent unit design, which can help simplify day-to-day operations while offering a built-in structure for potential unit-by-unit ownership over time.
The property is located at 4355 Riverview Avenue in West Linn, with immediate access to I-205 and SR-43, supporting connectivity to Lake Oswego, downtown Portland, and the broader South Metro.
This is an income-focused multifamily asset with consistent unit design, which can help simplify day-to-day operations while offering a built-in structure for potential unit-by-unit ownership over time.
Key Highlights
- 10‑unit residential income property built in 1972 with uniformly planned units
- Six separate tax lots provide a structural setup not found in conventional multifamily product
- Each unit offers 3 bedrooms and 1.5 baths, with private yards and decks
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
$173,340
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
6.93%
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%
$3,466,800
$3.5M
Cap Rate 7%
$2,476,286
$2.5M
Cap Rate 9%
$1,926,000
$1.9M
Market Conditions
NOI Build-Up for 13,500 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
$332.1K $24.60/SF
− Vacancy
−$16.9K −$1.25/SF
EGI
$315.2K $23.35/SF
− OpEx
−$141.8K −$10.51/SF
NOI
$173.3K $12.84/SF
Area
Clackamas County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$3,466,800
Cap Rate 7%
$2,476,286
Cap Rate 9%
$1,926,000
Alternative Uses
Best Use
Apartment 5plus
$2.48M
$2.17M – $2.89M
NOI $173,340 @ 7.0% cap · market cap 6.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.64M
$3.19M – $4.25M
NOI $255,079 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
Explore this area
Business Placement
Demographics for 97068, OR
30,712
Population
11,656
Households
2.6
Avg Household Size
43
Median Age
63%
College-Educated
98%
High-School Grad
22.4 sq mi
ZIP Area
1,371
Density / Sq Mi
$145,877
Median Household Income
$65,674
Median Earnings
$1,994
Median Rent
$760,900
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?
Apartment building - Ten uniformly planned 3-bedroom units with private yards and decks, plus dedicated parking, offer a straightforward 10-unit income setup.
Where is this apartment building located?
The property is located at 4355 Riverview Avenue West Linn, OR.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 10‑unit residential income property built in 1972 with uniformly planned units; Six separate tax lots provide a structural setup not found in conventional multifamily product; Each unit offers 3 bedrooms and 1.5 baths, with private yards and decks
