Five-Unit Apartment
For Sale
Contact for pricing
531 N 11th St, Klamath Falls, OR 97601
Two buildings contain updated apartments with separate electric metering, shared laundry, and garage parking.
Property Size5,663 SF
Price / SF$96.24
Days on Market169
Property Features for 531 N 11th St
General Information
Standard status
Active
Size
5,663 SF
Total Parking Spaces
4
Property subtype
Multifamily
Zoning
A
Occupancy
80%
Units
Unit Mix
2 x 2BR/1BA, 3 x 1BR/1BA
Multifamily Units
5
Amenities
shared coin-operated laundry
Building Details
Year Built
1930
Buildings
2
Stories
2
Units
5
Listing Agency:
Windermere Commercial Klamath Falls
Listed By:
Allison York · License #OR 200409050
Source:
Crexi
Added: May 4
Changed: Oct 16
Last Checked: Oct 19 at 5:57AM
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 Windermere Commercial Klamath Falls
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Investment Insights
Based on property information with market context.
Built in 1930, the property comprises two apartment buildings with five total units. The unit mix includes two two-bedroom, one-bath apartments and three one-bedroom, one-bath apartments. Unit improvements include updated interiors and upgraded electrical panels, while separate electric meters serve each apartment. Shared coin-operated laundry and four garage parking spaces add practical resident amenities.
The property is located in Klamath Falls near Oregon Institute of Technology, Sky Lakes Medical Center, and downtown. Zoning is A, and the address is 531 N 11th St.
The property is located in Klamath Falls near Oregon Institute of Technology, Sky Lakes Medical Center, and downtown. Zoning is A, and the address is 531 N 11th St.
Key Highlights
- Five units across two apartment buildings
- Unit mix includes two 2‑bed/1‑bath and three 1‑bed/1‑bath apartments
- Separate electric meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,859
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$817,180
$817.2K
Cap Rate 7%
$583,700
$583.7K
Cap Rate 9%
$453,989
$454.0K
Market Conditions
NOI Build-Up for 5,663 SF
Gross rent
$81.5K $14.40/SF
− Vacancy
−$7.3K −$1.28/SF
EGI
$74.3K $13.12/SF
− OpEx
−$33.4K −$5.90/SF
NOI
$40.9K $7.22/SF
Area
Klamath County, OR
Vacancy
8.90%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$817,180
Cap Rate 7%
$583,700
Cap Rate 9%
$453,989
Alternative Uses
Best Use
Apartment 5plus
$583.7K
$510.7K – $681.0K
NOI $40,859 @ 7.0% cap · market cap 7.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,025 @ 7.0% cap · market cap 14.87%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,195
Businesses Nearby
Explore this area
Business Placement
Demographics for 97601, OR
23,264
Population
10,936
Households
2.1
Avg Household Size
40
Median Age
24%
College-Educated
88%
High-School Grad
577.8 sq mi
ZIP Area
40
Density / Sq Mi
$53,333
Median Household Income
$31,011
Median Earnings
$972
Median Rent
$266,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two buildings contain updated apartments with separate electric metering, shared laundry, and garage parking.
Where is this apartment building located?
The property is located at 531 N 11th St Klamath Falls, OR.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Five units across two apartment buildings; Unit mix includes two 2‑bed/1‑bath and three 1‑bed/1‑bath apartments; Separate electric meters for each unit
