Four-Unit Multifamily
For Sale
$1,000,000
7189 SW CHILDS Rd, Lake Oswego, OR 97035
MultiFamily, LakeOswego, OR
Property Size3,920 SF
Lot Size0.33 Acres
Price / SF$255.10
Days on Market53
Property Features for 7189 SW CHILDS Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RMH
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 1, Bedroom 2, Bedroom 6, Bedroom 1, Bathroom 2, Bedroom 5, Bathroom 3, Bathroom 4, Bedroom 8, Bedroom 4, Bedroom 7
Subdivision
East Tualatin
Elementary school
Bridgeport
Middle school
Hazelbrook
High school
Tualatin
Directions
SW Childs Rd & SW Pilkington Rd; property located on SW Childs Rd just east of SW Pilkington Rd
Standard status
Active
APN
R1001301
Size
3,920 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Description
PIPERS' RUN, LOT 6
Tax Annual Amount
7518
Legal Description
PIPERS' RUN, LOT 6
Utilities
Cooling system
Window Unit(s)
Amenities
swimming pool
Building Details
Year built
1982
Floors in Building
2
Number of units
4
Roof type
Shingle, Composition
Listing Agency:
Opt
(503) 936-8815
Listed By:
Phelan Van Deren · License #201241078
(503) 908-4908
Added: Aug 6
Changed: Sep 27
Last Checked: Sep 27 at 1:06PM
MLS# 536639134
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-plex contains four residential units, each arranged with two bedrooms and one bathroom. The property encompasses 3,920 square feet on a 0.33-acre site and was built in 1982. Interior cooling is provided by window units, while the roof uses composition shingles. RMH zoning supports the property's multifamily classification.
Located at 7189 SW CHILDS Rd in Lake Oswego, the property is within the Rivergrove neighborhood. The homeowners association covers exterior maintenance, landscaping, garbage service, and access to a swimming pool. Showings are available for unit 7189, while the remaining units require an accepted offer before they can be viewed.
Located at 7189 SW CHILDS Rd in Lake Oswego, the property is within the Rivergrove neighborhood. The homeowners association covers exterior maintenance, landscaping, garbage service, and access to a swimming pool. Showings are available for unit 7189, while the remaining units require an accepted offer before they can be viewed.
Key Highlights
- Four units, each with 2 bedrooms and 1 bathroom
- 3,920 square feet on a 0.33‑acre lot
- RMH zoning and 1982 construction
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,333
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,006,660
$1.0M
Cap Rate 7%
$719,043
$719.0K
Cap Rate 9%
$559,256
$559.3K
Market Conditions
NOI Build-Up for 3,920 SF
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.
Gross rent
$96.4K $24.60/SF
− Vacancy
−$4.9K −$1.25/SF
EGI
$91.5K $23.35/SF
− OpEx
−$41.2K −$10.51/SF
NOI
$50.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,006,660
Cap Rate 7%
$719,043
Cap Rate 9%
$559,256
Alternative Uses
Best Use
Apartment 5plus
$719.0K
$629.2K – $838.9K
NOI $50,333 @ 7.0% cap · market cap 5.03%
Second Best
Multifamily LT 5
$703.4K
$615.5K – $820.7K
NOI $49,239 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$1.06M
$925.8K – $1.23M
NOI $74,067 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,547
Businesses Nearby
Explore this area
Business Placement
Demographics for 97035, OR
25,770
Population
11,822
Households
2.2
Avg Household Size
44
Median Age
73%
College-Educated
99%
High-School Grad
5.8 sq mi
ZIP Area
4,443
Density / Sq Mi
$126,866
Median Household Income
$75,523
Median Earnings
$1,951
Median Rent
$790,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom residences provide consistent layouts within an established multifamily asset.
Where is this quadplex located?
The property is located at 7189 SW CHILDS Rd Lake Oswego, OR.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 bathroom; 3,920 square feet on a 0.33‑acre lot; RMH zoning and 1982 construction
