Astoria Duplex with River
811 Franklin Avenue Astoria, OR 97103
811 Franklin Avenue, Astoria, OR, 97103
$575,000
For Sale
$575,000
Well-maintained Astoria duplex near downtown and waterfront with river views.
Property Size2,880 SF
Price / SF$199.65
Days on Market671
Property Features for 811 Franklin Avenue
General Information
- Standard status
- Active
- Size
- 2,880 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1913
Listing agency
SMI Commercial Real Estate LLC
(971) 218-9349
Listed by
Sabrina James · License #201246910
(971) 218-9349
Source
Compass
Added: Sep 19, 2024 Updated: Jul 10 at 12:21PM Checked: Jul 20 at 3:57AM
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 SMI Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
This well-maintained duplex is located in Astoria, offering two spacious units. Each unit features 3 bedrooms, 1.5 bathrooms, and a two-story layout with a basement. The property is positioned to capture views of the Columbia River. Unit 811 has been remodeled. Both units are currently occupied, providing rental income. The duplex is situated blocks away from Astoria’s downtown and waterfront, offering proximity to shops, dining, and cultural landmarks. The property size is 2880 square feet.
Key Highlights
- Dependable income stream from two fully occupied units.
- Prime location: Blocks from Astoria's vibrant downtown and waterfront with shops, dining, and cultural landmarks.
- Two spacious units, each with 3 bedrooms and 1.5 bathrooms.
Local Financial Insights For Multifamily LT 5
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 | $39.7k | $13.80 |
| − Vacancy | −$10.2k | −$3.54 |
| EGI | $29.5k | $10.26 |
| − OpEx | −$8.9k | −$3.08 |
| NOI | $20.7k | $7.18 |
2,880 SF · lease $13.80/SF/yr · vacancy 25.65% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$295.5K
$258.6K – $344.8K
NOI $20,685 @ 7.0% cap · market cap 3.60%
Second Best
Apartment 5plus
$267.6K
$234.2K – $312.2K
NOI $18,732 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$837.3K
$732.7K – $976.9K
NOI $58,614 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Well-maintained Astoria duplex near downtown and waterfront with river views.
Where is this duplex located?
The property is located at 811 Franklin Avenue Astoria, OR.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Dependable income stream from two fully occupied units.; Prime location: Blocks from Astoria's vibrant downtown and waterfront with shops, dining, and cultural landmarks.; Two spacious units, each with 3 bedrooms and 1.5 bathrooms.
