Apartment Building with On-Site
For Sale
$750,000
441 SW Walnut St, Willamina, OR 97396
Single-level one-bedroom apartments include private patios in several units and a shared coin-operated laundry facility.
Property Size4,032 SF
Days on Market53
Property Features for 441 SW Walnut St
General Information
Standard status
Active
Size
4,032 SF
Total Parking Spaces
8
Property subtype
Multi Family Home
Zoning
R-1
Units
Unit Mix
8 x 1BR/1BA
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$5,674
Amenities
private patios
on-site coin-operated laundry facility
Building Details
Building Size
4,032 SF
Year Built
1971
Stories
1
Units
8
Listing Agency:
Hofenbredl Realty LLC
(503) 910-9261
Listed By:
Barbara Hofenbredl · License #200810120
(503) 910-9261
Source:
Metanars
Added: Jun 30
Changed: Aug 21
Last Checked: Aug 21 at 5:48AM
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 Hofenbredl Realty LLC
Investment Insights
Based on property information with market context.
Built in 1971, this R-1 apartment property contains 8 single-level units, each arranged with one bedroom and one bathroom. The interiors include an open kitchen, dining, and living area, creating a straightforward residential layout. Several apartments also have private rear patios, while the property provides a shared coin-operated laundry facility for residents.
The ground-level configuration and consistent unit design provide a uniform operating format across the building. Located at 441 SW Walnut St in Willamina, Oregon, the property offers an established multifamily setup with on-site laundry and outdoor space at select units.
The ground-level configuration and consistent unit design provide a uniform operating format across the building. Located at 441 SW Walnut St in Willamina, Oregon, the property offers an established multifamily setup with on-site laundry and outdoor space at select units.
Key Highlights
- 8‑unit apartment property with R‑1 zoning
- Each unit has 1 bedroom and 1 bathroom
- Single‑level apartment layouts
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
$51,771
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
6.90%
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%
$1,035,420
$1.0M
Cap Rate 7%
$739,586
$739.6K
Cap Rate 9%
$575,233
$575.2K
Market Conditions
NOI Build-Up for 4,032 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
$99.2K $24.60/SF
− Vacancy
−$5.1K −$1.25/SF
EGI
$94.1K $23.35/SF
− OpEx
−$42.4K −$10.51/SF
NOI
$51.8K $12.84/SF
Area
Yamhill 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%
$1,035,420
Cap Rate 7%
$739,586
Cap Rate 9%
$575,233
Alternative Uses
Best Use
Apartment 5plus
$739.6K
$647.1K – $862.9K
NOI $51,771 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$952.3K – $1.27M
NOI $76,184 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
106
Businesses Nearby
Explore this area
Business Placement
Demographics for 97396, OR
3,426
Population
1,473
Households
2.3
Avg Household Size
40
Median Age
10%
College-Educated
94%
High-School Grad
54.6 sq mi
ZIP Area
63
Density / Sq Mi
$52,857
Median Household Income
$42,217
Median Earnings
$1,104
Median Rent
$324,500
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?
Apartment building - Single-level one-bedroom apartments include private patios in several units and a shared coin-operated laundry facility.
Where is this apartment building located?
The property is located at 441 SW Walnut St Willamina, OR.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 8‑unit apartment property with R‑1 zoning; Each unit has 1 bedroom and 1 bathroom; Single‑level apartment layouts
