Multifamily
New
For Sale
$1,049,900
611 E HANCOCK ST, Newberg, OR 97132
The property has C-3 zoning and off-street, open parking.
Property Size5,340 SF
Days on Market7
Property Features for 611 E HANCOCK ST
General Information
Standard status
Active
Size
5,340 SF
Property subtype
Residential Income
Zoning
C-3
Net Operating Income
$39,369
Taxes and HOA fees
Annual Taxes
$5,700
Amenities
Wall Furnace
Off Street, Open
Building Details
Building Size
5,340 SF
Year Built
1979
Stories
2
Listed By:
Jon Gross · License #201223739
(971) 237-9674
Source:
Evrealestate
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 28 at 8:21AM
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 Jon Gross
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Investment Insights
Based on property information with market context.
This multifamily property at 611 E Hancock St. was built in 1979. Interior features include a wall furnace, and the site provides open off-street parking.
The property is zoned C-3 and is located in Newberg, Oregon.
The property is zoned C-3 and is located in Newberg, Oregon.
Key Highlights
- Built in 1979
- C‑3 zoning
- Open off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,565
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,371,300
$1.4M
Cap Rate 7%
$979,500
$979.5K
Cap Rate 9%
$761,833
$761.8K
Market Conditions
NOI Build-Up for 5,340 SF
Gross rent
$131.4K $24.60/SF
− Vacancy
−$6.7K −$1.25/SF
EGI
$124.7K $23.35/SF
− OpEx
−$56.1K −$10.51/SF
NOI
$68.6K $12.84/SF
Area
Yamhill 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%
$1,371,300
Cap Rate 7%
$979,500
Cap Rate 9%
$761,833
Alternative Uses
Best Use
Apartment 5plus
$979.5K
$857.1K – $1.14M
NOI $68,565 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,898 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
932
Businesses Nearby
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Business Placement
Demographics for 97132, OR
32,028
Population
12,411
Households
2.6
Avg Household Size
38
Median Age
39%
College-Educated
93%
High-School Grad
62.6 sq mi
ZIP Area
512
Density / Sq Mi
$95,150
Median Household Income
$46,005
Median Earnings
$1,567
Median Rent
$498,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - The property has C-3 zoning and off-street, open parking.
Where is this multifamily property located?
The property is located at 611 E HANCOCK ST Newberg, OR.
What is the asking price?
The asking price for this property is $1,049,900.
What are key features of this property?
This property features: Built in 1979; C‑3 zoning; Open off‑street parking
