Four-Unit Quadplex with
For Sale
$799,900
80 BOATLANDING St, Independence, OR 97351
MultiFamily, Independence, OR
Property Size3,384 SF
Lot Size0.20 Acres
Price / SF$236.38
Days on Market50
Property Features for 80 BOATLANDING St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RH
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 5, Bedroom 1, Bedroom 2, Bedroom 6, Bedroom 8, Bedroom 7, Bathroom 4, Bedroom 3, Bathroom 1
View
Territorial
Elementary school
Independence
Middle school
Talmadge
High school
Central
Directions
From downtown Independence, head North on Main, East on Boatlanding.
Subdivision
_167
Standard status
Active
APN
202266
Size
3,384 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
LOT PARCEL 1
Tax Annual Amount
6374
Legal Description
LOT PARCEL 1
Utilities
Heating system
Zoned
Amenities
washer/dryer hookups
Building Details
Year built
2003
Floors in Building
2
Number of units
4
Roof type
Composition
Listing Agency:
HomeSmart Realty Group · HomeSmart International
(971) 599-5865
Listed By:
Brian Smith
(503) 551-8510
Added: Aug 21
Changed: Sep 28
Last Checked: Oct 9 at 12:06PM
MLS# 596451471
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.
Built in 2003, this 3,384-square-foot quadplex contains four residential units, each arranged with two bedrooms and one bathroom. Every unit includes washer and dryer hookups, while the property also features zoned heating, a composition roof, low-maintenance landscaping, and ample on-site parking. The property is situated on a 0.2-acre lot and carries RH zoning.
The residence is located a few blocks from historic downtown Independence, with access to Hwy 22, Western Oregon University, and Salem. A documented rental history and low vacancy add operating history to the physical attributes, while two units are currently rented below market rates. The property’s four-unit configuration and consistent floor plans provide a straightforward multifamily layout.
The residence is located a few blocks from historic downtown Independence, with access to Hwy 22, Western Oregon University, and Salem. A documented rental history and low vacancy add operating history to the physical attributes, while two units are currently rented below market rates. The property’s four-unit configuration and consistent floor plans provide a straightforward multifamily layout.
Key Highlights
- Four‑unit property with 3,384 square feet of building area
- Each unit includes 2 bedrooms, 1 bathroom, and washer/dryer hookups
- Built in 2003 on a 0.2‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,642
Cap Rate
5.08%
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 5.08%
Second Best
Apartment 5plus
$534.7K
$467.9K – $623.8K
NOI $37,428 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$898.5K
$786.2K – $1.05M
NOI $62,894 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
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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 residential units offer consistent layouts, washer and dryer hookups, landscaped grounds, and on-site parking.
Where is this quadplex located?
The property is located at 80 BOATLANDING St Independence, OR.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Four‑unit property with 3,384 square feet of building area; Each unit includes 2 bedrooms, 1 bathroom, and washer/dryer hookups; Built in 2003 on a 0.2‑acre lot
