Vernonia Portfolio of Occupied
For Sale
Contact for pricing
816-896 West E St, Vernonia, OR 97064
Portfolio of three fully-occupied duplexes near downtown Vernonia.
Property Size9,840 SF
Price / SF$198.17
Days on Market182
Property Features for 816-896 West E St
General Information
Standard status
Active
Size
9,840 SF
Class
B
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$108,760
Building Details
Year Built
2024
Buildings
3
Stories
1
Units
6
Listing Agency:
Kidder Mathews Portland
(503) 221-9900
Listed By:
Jordan Carter · License #OR 200606025
Source:
Crexi
Added: Feb 19
Changed: Aug 16
Last Checked: Aug 19 at 8:48PM
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 Kidder Mathews Portland
Investment Insights
Based on property information with market context.
Built in 2024, this portfolio features three fully-occupied duplexes with large three-bedroom, two-bathroom units. Located near downtown Vernonia, these investment opportunities rarely appear on the market. Each unit features open floor plans with modern comforts, including hard surface countertops, flush mount sinks, stainless steel appliances, air conditioning, garages, decks, and dual heat sources. The property, totaling 9,840 square feet, is comprised of three tax lots, offering the opportunity to obtain residential financing for each duplex and providing a future exit strategy to sell the duplexes individually. The properties back to additional duplex lots, one currently under development and two additional vacant duplex parcels, which may also be available, offering potential expansion opportunities. Located near the heart of Vernonia, just two minutes from downtown, the portfolio offers convenient access to parks, trails, local retailers, and dining while maintaining a peaceful neighborhood setting. Downtown Vernonia provides grocery options, specialty shops, cafes, and locally owned restaurants. Nearby outdoor recreation includes Vernonia Lake, the Banks Vernonia State Trail (over 20 miles of multi-use trail), and numerous parks and forest lands offering year-round activities such as fishing, hiking, cycling, and equestrian use. Vernonia is characterized by its rural feel, natural beauty, and outdoor lifestyle, set among Douglas Fir forests, rolling hills, and waterways. Vernonia sits approximately 45 miles northwest of Portland, with direct access via Highway 47 and connecting highways, making it accessible for commuters, regional travelers, and visitors alike. The city features a walkable downtown core with locally owned retailers, grocery options, cafés, and restaurants that serve both residents and visitors.
Key Highlights
- Rare investment opportunity: Portfolio of three fully‑occupied duplexes in Vernonia.
- New construction: Built in 2024, offering modern amenities.
- Individual financing potential: Comprised of three tax lots, allowing for residential financing.
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
$143,479
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
7.36%
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%
$2,869,580
$2.9M
Cap Rate 7%
$2,049,700
$2.0M
Cap Rate 9%
$1,594,211
$1.6M
Market Conditions
NOI Build-Up for 9,840 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
$218.4K $22.20/SF
− Vacancy
−$13.5K −$1.37/SF
EGI
$205.0K $20.83/SF
− OpEx
−$61.5K −$6.25/SF
NOI
$143.5K $14.58/SF
Area
Columbia County, OR
Vacancy
6.17%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$2,869,580
Cap Rate 7%
$2,049,700
Cap Rate 9%
$1,594,211
Alternative Uses
Best Use
Multifamily LT 5
$2.05M
$1.79M – $2.39M
NOI $143,479 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$1.80M
$1.58M – $2.11M
NOI $126,345 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$2.66M
$2.32M – $3.10M
NOI $185,924 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
Explore this area
Business Placement
Demographics for 97064, OR
3,802
Population
1,653
Households
2.3
Avg Household Size
42
Median Age
18%
College-Educated
88%
High-School Grad
97.7 sq mi
ZIP Area
39
Density / Sq Mi
$78,125
Median Household Income
$48,024
Median Earnings
$1,213
Median Rent
$360,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Portfolio of three fully-occupied duplexes near downtown Vernonia.
Where is this duplex located?
The property is located at 816-896 West E St Vernonia, OR.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Rare investment opportunity: Portfolio of three fully‑occupied duplexes in Vernonia.; New construction: Built in 2024, offering modern amenities.; Individual financing potential: Comprised of three tax lots, allowing for residential financing.
