Student Housing Townhouse
501-529 Warren St S Monmouth, OR 97361
501-529 Warren St S, Monmouth, OR, 97361
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For Sale
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Nine townhouses and apartments in two buildings, built in 2005, with 100% occupancy near Western Oregon University.
Property Size10,696 SF
Lot Size0.62 Acres
Price / SF$233.26
Days on Market89
Property Features for 501-529 Warren St S
General Information
- Standard status
- Active
- Size
- 10,696 SF
- Lot size
- 0.62 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 2005
Listing agency
First Commercial Real Estate Services
(503) 364-7400
Listed by
Conrad Venti · License #201252758
Source
Crexi
Added: Apr 25 Updated: Jul 21 at 3:15PM Checked: Jul 21 at 3:15PM
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 First Commercial Real Estate Services
Investment Insights
Based on property information with market context.
The Warren Street Townhouses is a nine-unit student housing portfolio in Monmouth, Oregon. Built in 2005, the property includes two residential buildings with eight large-format 4-bedroom, 3-bathroom townhouses and one 1-bedroom, 1-bathroom ADA-accessible apartment unit. Each 4-bedroom townhouse is reported as 1,361 square feet, and the ADA-accessible unit is reported as 525 square feet. The 1BR unit is currently used as an owner’s office and can be returned to the rent roll immediately without conversion costs.
The portfolio is situated on 0.62 acres and is located in close proximity to Western Oregon University.
The property is 100% occupied, with reported 2025 actual NOI of $109,639 and pro forma NOI of $148,173, based on reported gross income of $171,360.
The portfolio is situated on 0.62 acres and is located in close proximity to Western Oregon University.
The property is 100% occupied, with reported 2025 actual NOI of $109,639 and pro forma NOI of $148,173, based on reported gross income of $171,360.
Key Highlights
- 9‑unit student housing portfolio in Monmouth, OR with two residential buildings near Western Oregon University
- Built in 2005 on 0.62 acres; includes eight 4BD/3BA townhouses at 1,361 SF each and one 1BD/1BA ADA‑accessible unit at 525 SF
- 100% occupied across the 9 units
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $231.0k | $21.60 |
| − Vacancy | −$15.9k | −$1.49 |
| EGI | $215.1k | $20.11 |
| − OpEx | −$96.8k | −$9.05 |
| NOI | $118.3k | $11.06 |
10,696 SF · lease $21.60/SF/yr · vacancy 6.90% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.69M
$1.48M – $1.97M
NOI $118,301 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.84M
$2.48M – $3.31M
NOI $198,792 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Nine townhouses and apartments in two buildings, built in 2005, with 100% occupancy near Western Oregon University.
Where is this apartment building located?
The property is located at 501-529 Warren St S Monmouth, OR.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: 9‑unit student housing portfolio in Monmouth, OR with two residential buildings near Western Oregon University; Built in 2005 on 0.62 acres; includes eight 4BD/3BA townhouses at 1,361 SF each and one 1BD/1BA ADA‑accessible unit at 525 SF; 100% occupied across the 9 units
