Multifamily Property with Two
New
For Sale
$299,000
632 N 10th St, Klamath Falls, OR 97601
Craftsman home combines two apartments with four furnished living spaces, outdoor amenities, and off-street parking.
Property Size2,575 SF
Lot Size0.12 Acres
Price / SF$116.12
Days on Market2
Property Features for 632 N 10th St
General Information
Standard status
Active
Size
2,575 SF
Lot size
0.12 Acres
Property subtype
Multi-Family
Financials
Cap Rate
8.3%
Gross Income
$36,600
Additional Details
Furnished
Yes
Public Transit
Yes
Amenities
garden
greenhouse
fruit trees
patio
shared laundry
two porches
private porch
Building Details
Year Built
1924
Buildings
1
Construction
Craftsman
Listing Agency:
Coldwell Banker Holman Premier
(775) 690-2537
Listed By:
Nataliya Hamilton
Source:
541sold
Added: Aug 1
Changed: Aug 2
Last Checked: Aug 2 at 9:35AM
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 Coldwell Banker Holman Premier
Investment Insights
Based on property information with market context.
Built in 1924, this 2,575-square-foot Craftsman multifamily property sits on a .12-acre corner lot and includes two apartments along with four furnished living spaces. The lower apartment has one bedroom, a full kitchen, office, bathroom, fenced garden, and shared laundry. The main level provides four bedrooms, a kitchen, dining area, and two porches, while the upper apartment includes a large bedroom, living room, kitchenette, and private porch.
Property improvements include a furnace installed in 2025, two water heaters from 2021, updated electrical panels, new water and sewer lines completed in 2021, and interior paint. Exterior features include a greenhouse, fruit trees, garden, patio, and off-street parking. The property is three blocks from downtown and near transit. An estimated 8.3% cap rate, rent roll, and expense sheet are also provided in the property information.
Property improvements include a furnace installed in 2025, two water heaters from 2021, updated electrical panels, new water and sewer lines completed in 2021, and interior paint. Exterior features include a greenhouse, fruit trees, garden, patio, and off-street parking. The property is three blocks from downtown and near transit. An estimated 8.3% cap rate, rent roll, and expense sheet are also provided in the property information.
Key Highlights
- 2,575 sq ft Craftsman multifamily property on a .12‑acre corner lot
- Two apartments plus 4 furnished living spaces
- Estimated 8.3% cap rate
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 | $37.1k | $14.40 |
| − Vacancy | −$3.3k | −$1.28 |
| EGI | $33.8k | $13.12 |
| − OpEx | −$15.2k | −$5.90 |
| NOI | $18.6k | $7.22 |
2,575 SF · lease $14.40/SF/yr · vacancy 8.90% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$265.4K
$232.2K – $309.7K
NOI $18,579 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$526.3K
$460.5K – $614.1K
NOI $36,843 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,271
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Craftsman home combines two apartments with four furnished living spaces, outdoor amenities, and off-street parking.
Where is this multifamily property located?
The property is located at 632 N 10th St Klamath Falls, OR.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 2,575 sq ft Craftsman multifamily property on a .12‑acre corner lot; Two apartments plus 4 furnished living spaces; Estimated 8.3% cap rate
