8-Unit Apartment
For Sale
$1,395,000
501 Briarwood Drive, Central Point, OR 97502
Residential Income, Central Point, OR
Property Size7,300 SF
Lot Size0.35 Acres
Price / SF$191.10
Days on Market54
Property Features for 501 Briarwood Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-3
Parking features
Carport, Assigned, Parking Lot
Window features
Double Pane Windows, Vinyl Frames
Patio and Porch features
Patio
Appliances
Dishwasher, Disposal, Dryer, Oven, Range, Range Hood, Refrigerator, Washer, Water Heater
Subdivision
Countryside Village Subdivision Phase 2
Lot features
Landscaped, Level
Elementary school
Central Point Elem
Middle school
Scenic Middle
High school
Crater High
Directions
Hopkins to Briarwood.
Standard status
Active
APN
10859647
Size
7,300 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13497
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating), Electric (Heating)
Cooling system
Central Air, Ductless
Water source
Public
Amenities
private patios
exterior storage closets
covered tenant parking
Building Details
Year built
2006
Floors in Building
2
Number of units
8
Flooring type
Vinyl, Carpet
Building materials
Frame
Roof type
Composition, Asphalt
Architectural style
Other
Listing Agency:
RE/MAX Integrity · RE/MAX International
(541) 770-3325
Listed By:
Kathrine Henry · License #940700135
(541) 951-3876
Added: Aug 12
Changed: Oct 2
Last Checked: Oct 4 at 4:06PM
MLS# 220227031
Copyright © 2026 Oregon Data Share. 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.
Built in 2006, this 8-unit apartment property contains approximately 7,300 square feet on a 0.35-acre parcel. Units feature open kitchen layouts, private patios, and individual exterior storage closets. Finishes include vinyl and carpet flooring, with approximately four units featuring updated LVP flooring. Unit condition and finishes vary slightly, and the property has no HOA.
Parking includes covered tenant spaces, assigned parking, and a larger lot for visitors. Building systems include central air, ductless heating and cooling, electric heat, public water, and public sewer. Appliances include refrigerators, ranges, ovens, dishwashers, disposals, washers, dryers, range hoods, and water heaters. The property is located in Central Point, Oregon.
Parking includes covered tenant spaces, assigned parking, and a larger lot for visitors. Building systems include central air, ductless heating and cooling, electric heat, public water, and public sewer. Appliances include refrigerators, ranges, ovens, dishwashers, disposals, washers, dryers, range hoods, and water heaters. The property is located in Central Point, Oregon.
Key Highlights
- 8‑unit apartment property totaling approximately 7,300 square feet
- 0.35‑acre parcel with a 2006 construction date
- Open kitchens with substantial storage in each unit
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
$68,657
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
4.92%
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%
$1,373,140
$1.4M
Cap Rate 7%
$980,814
$980.8K
Cap Rate 9%
$762,856
$762.9K
Market Conditions
NOI Build-Up for 7,300 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
$131.4K $18.00/SF
− Vacancy
−$6.6K −$0.90/SF
EGI
$124.8K $17.10/SF
− OpEx
−$56.2K −$7.69/SF
NOI
$68.7K $9.41/SF
Area
Jackson County, OR
Vacancy
5.00%
Lease Rate
$18.00 /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%
$1,373,140
Cap Rate 7%
$980,814
Cap Rate 9%
$762,856
Alternative Uses
Best Use
Apartment 5plus
$980.8K
$858.2K – $1.14M
NOI $68,657 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,341 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
Explore this area
Business Placement
Demographics for 97502, OR
29,558
Population
11,717
Households
2.5
Avg Household Size
43
Median Age
21%
College-Educated
89%
High-School Grad
82.1 sq mi
ZIP Area
360
Density / Sq Mi
$79,146
Median Household Income
$42,667
Median Earnings
$1,245
Median Rent
$374,000
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 - Multifamily property with private patios, exterior storage, and covered tenant parking.
Where is this apartment building located?
The property is located at 501 Briarwood Drive Central Point, OR.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 8‑unit apartment property totaling approximately 7,300 square feet; 0.35‑acre parcel with a 2006 construction date; Open kitchens with substantial storage in each unit
