Duplex with Fenced
New
For Sale
$1,350,000
651 5TH ST, Lake Oswego, OR 97034
Both residences are leased and have private fenced outdoor areas.
Property Size3,003 SF
Price / SF$449.55
Days on Market5
Property Features for 651 5TH ST
General Information
Standard status
Active
Size
3,003 SF
Property subtype
MULTI_FAMILY
Zoning
R-6
Occupancy
100%
Units
Unit Mix
1 x 3BR/1.1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$66,000
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,351
Building Details
Building Size
3,003 SF
Year Built
1978
Buildings
1
Tenancy
Multi
Listing Agency:
Harnish Company Realtors
Listed By:
Kelly Fitzmaurice
(503) 490-5813
Source:
Eleeterealestate
Added: Oct 28
Changed: Nov 1
Last Checked: Oct 31 at 3:33AM
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 Harnish Company Realtors
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Investment Insights
Based on property information with market context.
Built in 1978, this 3,003-square-foot duplex contains two residences: a 1,777-square-foot, three-bedroom unit with 1.1 baths and a 1,226-square-foot, two-bedroom unit with one bath. Each has a wood-burning fireplace, dishwasher, updated countertops, in-unit washer and dryer, and a private fenced yard. Parking consists of an attached garage for one residence and a covered carport for the other.
The property is zoned R-6. The zoning description lists single-family homes, duplexes, triplexes, townhomes, and cottage clusters, subject to lot coverage, floor area ratio, and design requirements. Both units are currently leased.
The property is zoned R-6. The zoning description lists single-family homes, duplexes, triplexes, townhomes, and cottage clusters, subject to lot coverage, floor area ratio, and design requirements. Both units are currently leased.
Key Highlights
- 3,003‑square‑foot duplex built in 1978
- Two residences: 1,777 square feet with 3 bedrooms and 1.1 baths; 1,226 square feet with 2 bedrooms and 1 bath
- Both units have wood‑burning fireplaces, dishwashers, in‑unit laundry, and private fenced yards
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,558
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$771,160
$771.2K
Cap Rate 7%
$550,829
$550.8K
Cap Rate 9%
$428,422
$428.4K
Market Conditions
NOI Build-Up for 3,003 SF
Gross rent
$73.9K $24.60/SF
− Vacancy
−$3.8K −$1.25/SF
EGI
$70.1K $23.35/SF
− OpEx
−$31.5K −$10.51/SF
NOI
$38.6K $12.84/SF
Area
Clackamas 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%
$771,160
Cap Rate 7%
$550,829
Cap Rate 9%
$428,422
Alternative Uses
Best Use
Apartment 5plus
$550.8K
$482.0K – $642.6K
NOI $38,558 @ 7.0% cap · market cap 2.86%
Second Best
Multifamily LT 5
$538.9K
$471.5K – $628.7K
NOI $37,721 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$810.6K
$709.3K – $945.7K
NOI $56,741 @ 7.0% cap · market cap 4.20%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,250
Businesses Nearby
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Business Placement
Demographics for 97034, OR
21,396
Population
9,017
Households
2.4
Avg Household Size
49
Median Age
74%
College-Educated
99%
High-School Grad
7.7 sq mi
ZIP Area
2,779
Density / Sq Mi
$147,688
Median Household Income
$77,500
Median Earnings
$2,030
Median Rent
$995,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased and have private fenced outdoor areas.
Where is this duplex located?
The property is located at 651 5TH ST Lake Oswego, 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: 3,003‑square‑foot duplex built in 1978; Two residences: 1,777 square feet with 3 bedrooms and 1.1 baths; 1,226 square feet with 2 bedrooms and 1 bath; Both units have wood‑burning fireplaces, dishwashers, in‑unit laundry, and private fenced yards
