10-Unit Townhome Rental
For Sale
$1,350,000
550 Schetter Ave, Coos Bay, OR 97420
Well-maintained 10-unit townhome property with eight two-bedroom and two three-bedroom residences.
Property Size8,450 SF
Days on Market143
Property Features for 550 Schetter Ave
General Information
Standard status
Active
Size
8,450 SF
Property subtype
Multifamily
Occupancy
95%
Additional Details
Cap Rate
7.05%
Multifamily Units
10
Amenities
COASTAL TOWNHOME ASSET - Ten Unit Townhome Community Built in 1974 Located in a Residential Coos Bay
PROVEN RENT PREMIUM - Renovated Units Achieve Approximately $300 Rent Premium Over Prior Highest Rent Levels
SIGNIFICANT RENT UPSIDE - Remaining Eight Units Offer Approximately 16.5 % Rent Upside Through Interior Renovations
MAJOR ELECTRICAL UPGRADE - All Electrical Panels Replaced in 2025 Reducing Capital Risk and Improving Long Term Reliability
RECENT EXTERIOR IMPROVEMENTS - Siding Repairs and Full Exterior Repaint Completed in 2024 Enhancing Curb Appeal
PARKING AND ACCESS - Assigned Parking Lot with Visitor Stall Plus Ample On Street Parking Availability
Building Details
Building Size
8,450 SF
Year Built
1974
Year Renovated
2025
Stories
2
Units
10
Listing Agency:
Portland Office
(503) 200-2000
Listed By:
Whitney Rhoades · License #OR: 201204200, WA: 25012784
(503) 200-2022
Source:
Marcusmillichap
Added: Jun 3
Changed: Oct 21
Last Checked: Oct 20 at 5:14PM
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 Portland Office
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Schetter Avenue Townhomes is a well-maintained 10-unit townhome community constructed in 1974. The property features ten two-story residences, including eight two-bedroom units and two three-bedroom units, designed for long-term renters who want space and in-unit convenience.
Recent ownership capital investment includes siding repairs and a full exterior repaint completed in 2024, along with replacement of all electrical panels in 2025. Additional improvements include parking lot seal coat and restripe in 2023, plus vinyl window replacements.
Interior upgrades have already begun, with two units renovated to include quartz countertops, new cabinetry, updated appliances, luxury vinyl plank flooring, and refreshed bathroom finishes. The remaining eight units offer an opportunity to continue the renovation program and align interiors with the established finish standard.
Recent ownership capital investment includes siding repairs and a full exterior repaint completed in 2024, along with replacement of all electrical panels in 2025. Additional improvements include parking lot seal coat and restripe in 2023, plus vinyl window replacements.
Interior upgrades have already begun, with two units renovated to include quartz countertops, new cabinetry, updated appliances, luxury vinyl plank flooring, and refreshed bathroom finishes. The remaining eight units offer an opportunity to continue the renovation program and align interiors with the established finish standard.
Key Highlights
- 10‑unit townhome community at 550 Schetter Avenue, Coos Bay, Oregon—constructed in 1974
- Unit mix: eight 2‑bedroom units and two 3‑bedroom units, all described as two‑story townhome residences
- 2024 exterior improvements include siding repairs and a full exterior repaint to improve durability and reduce deferred maintenance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,772
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,415,440
$1.4M
Cap Rate 7%
$1,011,029
$1.0M
Cap Rate 9%
$786,356
$786.4K
Market Conditions
NOI Build-Up for 8,450 SF
Gross rent
$136.9K $16.20/SF
− Vacancy
−$8.2K −$0.97/SF
EGI
$128.7K $15.23/SF
− OpEx
−$57.9K −$6.85/SF
NOI
$70.8K $8.38/SF
Area
Coos County, OR
Vacancy
6.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,415,440
Cap Rate 7%
$1,011,029
Cap Rate 9%
$786,356
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$884.7K – $1.18M
NOI $70,772 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $107,078 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
210
Businesses Nearby
Explore this area
Business Placement
Demographics for 97420, OR
27,454
Population
12,967
Households
2.1
Avg Household Size
46
Median Age
19%
College-Educated
89%
High-School Grad
273.9 sq mi
ZIP Area
100
Density / Sq Mi
$61,624
Median Household Income
$35,536
Median Earnings
$982
Median Rent
$282,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 10-unit townhome property with eight two-bedroom and two three-bedroom residences.
Where is this apartment building located?
The property is located at 550 Schetter Ave Coos Bay, OR.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 10‑unit townhome community at 550 Schetter Avenue, Coos Bay, Oregon—constructed in 1974; Unit mix: eight 2‑bedroom units and two 3‑bedroom units, all described as two‑story townhome residences; 2024 exterior improvements include siding repairs and a full exterior repaint to improve durability and reduce deferred maintenance
