Four-Unit
For Sale
$775,000
80-86 Boatlanding St, Independence, OR 97351
Multi Family, Independence, OR
Property Size3,384 SF
Lot Size0.20 Acres
Price / SF$229.02
Days on Market101
Property Features for 80-86 Boatlanding St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RH
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 8, Bathroom 1, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 7, Bathroom 2, Bedroom 1
Subdivision
08421-DB-00500 01
Lot features
Dimension Above, Lot: 1
View
Territorial
Elementary school
Independence
Middle school
Talmadge
High school
Central
Directions
From downtown Independence, head North on Main, East on Boatlanding.
Standard status
Active
APN
202266
Size
3,384 SF
Lot size
0.20 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
6374
Utilities
Heating system
Ductless (Heating), Electric (Heating), Wall Furnace
Amenities
washer/dryer hookups
Building Details
Year built
2003
Number of units
4
Flooring type
Carpet, Vinyl
Roof type
Composition
Listing Agency:
HOMESMART REALTY GROUP · HomeSmart International
(971) 599-5865
Listed By:
BRIAN SMITH
(503) 551-8510
Added: Jul 24
Changed: Oct 31
Last Checked: Nov 1 at 10:06AM
MLS# 843874
Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 2003, this RH-zoned quadplex contains 3,384 square feet on a 0.2-acre lot. The property includes four residential units, each arranged with two bedrooms and one bathroom, along with washer and dryer hookups. Interior finishes include carpet and vinyl flooring, while heating is provided through electric systems, ductless equipment, and wall furnaces. A composition roof and low-maintenance landscaping support the property’s practical configuration, with parking available on site.
The property is located at 80-86 Boatlanding St in Independence, near historic downtown. Access to Hwy 22, Western Oregon University, and Salem adds regional connectivity. Two units are currently rented below market rates, and the property has a history of rental occupancy with low vacancy.
The property is located at 80-86 Boatlanding St in Independence, near historic downtown. Access to Hwy 22, Western Oregon University, and Salem adds regional connectivity. Two units are currently rented below market rates, and the property has a history of rental occupancy with low vacancy.
Key Highlights
- Four‑unit quadplex with 3,384 square feet on a 0.2‑acre lot
- RH zoning and 2003 construction
- Each unit includes 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,642
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,840
$812.8K
Cap Rate 7%
$580,600
$580.6K
Cap Rate 9%
$451,578
$451.6K
Market Conditions
NOI Build-Up for 3,384 SF
Gross rent
$62.1K $18.36/SF
− Vacancy
−$4.1K −$1.20/SF
EGI
$58.1K $17.16/SF
− OpEx
−$17.4K −$5.15/SF
NOI
$40.6K $12.01/SF
Area
Polk County, OR
Vacancy
6.55%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,840
Cap Rate 7%
$580,600
Cap Rate 9%
$451,578
Alternative Uses
Best Use
Multifamily LT 5
$580.6K
$508.0K – $677.4K
NOI $40,642 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$534.7K
$467.9K – $623.8K
NOI $37,428 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$898.5K
$786.2K – $1.05M
NOI $62,894 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
Explore this area
Business Placement
Demographics for 97351, OR
11,292
Population
3,697
Households
3.1
Avg Household Size
34
Median Age
25%
College-Educated
89%
High-School Grad
52.3 sq mi
ZIP Area
216
Density / Sq Mi
$84,717
Median Household Income
$40,990
Median Earnings
$1,592
Median Rent
$357,700
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?
Quadplex - Four residential units feature consistent two-bedroom layouts, full bathrooms, and in-unit washer and dryer hookups.
Where is this quadplex located?
The property is located at 80-86 Boatlanding St Independence, OR.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,384 square feet on a 0.2‑acre lot; RH zoning and 2003 construction; Each unit includes 2 bedrooms and 1 bathroom
