12-Unit Apartment
New
For Sale
$2,299,900
461 W GLOUCESTER ST, Gladstone, OR 97027
Three buildings offer private outdoor areas, in-unit laundry, fireplaces, and off-street parking for residents.
Property Size9,360 SF
Days on Market7
Property Features for 461 W GLOUCESTER ST
General Information
Standard status
Active
Size
9,360 SF
Property subtype
MULTI_FAMILY
Occupancy
100%
Units
Unit Mix
12 x 2BR/1BA
Multifamily Units
12
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$18,893
Amenities
in unit laundry
fireplaces
private outdoor space
dishwashers
off street parking
mature landscaping
Building Details
Building Size
9,360 SF
Year Built
1978
Buildings
3
Listing Agency:
Keller Williams Realty Portland Premiere
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Source:
Eleeterealestate
Added: Oct 8
Changed: Oct 14
Last Checked: Oct 13 at 3:36AM
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 Keller Williams Realty Portland Premiere
Investment Insights
Based on property information with market context.
The 12-unit apartment property comprises three buildings, with each residence offering two bedrooms, one bathroom, and 780 square feet. Layouts include single-level and two-level plans. Unit features include in-unit laundry, fireplaces, dishwashers, private outdoor space, and durable finishes; surface parking and mature landscaping serve the property. Built in 1978, the community is fully leased.
The property is in Gladstone, near Gladstone Crossing and everyday shopping along McLoughlin Boulevard. Dining and services are available along Portland Avenue and Arlington Street. Cross Park, Dahl Beach City Park, and Clackamette Park are nearby, and the Clackamas River is approximately one mile away. Oregon City, I-205, and McLoughlin Boulevard provide regional connections.
The property is in Gladstone, near Gladstone Crossing and everyday shopping along McLoughlin Boulevard. Dining and services are available along Portland Avenue and Arlington Street. Cross Park, Dahl Beach City Park, and Clackamette Park are nearby, and the Clackamas River is approximately one mile away. Oregon City, I-205, and McLoughlin Boulevard provide regional connections.
Key Highlights
- 12 two‑bedroom, one‑bathroom residences across three buildings
- Each apartment contains 780 square feet
- Built in 1978; fully leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$120,182
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,403,640
$2.4M
Cap Rate 7%
$1,716,886
$1.7M
Cap Rate 9%
$1,335,356
$1.3M
Market Conditions
NOI Build-Up for 9,360 SF
Gross rent
$230.3K $24.60/SF
− Vacancy
−$11.7K −$1.25/SF
EGI
$218.5K $23.35/SF
− OpEx
−$98.3K −$10.51/SF
NOI
$120.2K $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 Rate 5%
$2,403,640
Cap Rate 7%
$1,716,886
Cap Rate 9%
$1,335,356
Alternative Uses
Best Use
Apartment 5plus
$1.72M
$1.50M – $2.00M
NOI $120,182 @ 7.0% cap · market cap 5.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.53M
$2.21M – $2.95M
NOI $176,855 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
12
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 97027, OR
12,599
Population
5,365
Households
2.3
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
2.5 sq mi
ZIP Area
5,040
Density / Sq Mi
$91,957
Median Household Income
$49,689
Median Earnings
$1,721
Median Rent
$464,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Three buildings offer private outdoor areas, in-unit laundry, fireplaces, and off-street parking for residents.
Where is this apartment building located?
The property is located at 461 W GLOUCESTER ST Gladstone, OR.
What is the asking price?
The asking price for this property is $2,299,900.
What are key features of this property?
This property features: 12 two‑bedroom, one‑bathroom residences across three buildings; Each apartment contains 780 square feet; Built in 1978; fully leased
