84311 Highway 339, Milton Freewater, OR 97862
For Sale
$349,000
The property contains three rental units within a 2,198-square-foot building.
Property Size2,198 SF
Price / SF$158.78
Days on Market24
Property Features for 84311 Highway 339
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
John L. Scott Milton Freewater
(541) 938-9000
Listed By:
Lewis Key
(509) 520-4938
Source:
Eaglecaprealty
Added: Oct 14
Changed: Nov 6
Last Checked: Nov 6 at 3:42PM
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 John L. Scott Milton Freewater
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Investment Insights
Based on property information with market context.
This triplex contains three rental units in a 2,198-square-foot building constructed in 1984. The property is zoned EFU and is located at 84311 Highway 339 in Milton Freewater, Oregon.
Key Highlights
- Three rental units
- 2,198‑square‑foot building
- Built in 1984
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,247
Cap Rate
2.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$204,940
$204.9K
Cap Rate 7%
$146,386
$146.4K
Cap Rate 9%
$113,856
$113.9K
Market Conditions
NOI Build-Up for 2,198 SF
Gross rent
$15.8K $7.20/SF
− Vacancy
−$1.2K −$0.54/SF
EGI
$14.6K $6.66/SF
− OpEx
−$4.4K −$2.00/SF
NOI
$10.2K $4.66/SF
Area
Umatilla County, OR
Vacancy
7.50%
Lease Rate
$7.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$204,940
Cap Rate 7%
$146,386
Cap Rate 9%
$113,856
Alternative Uses
Best Use
Multifamily LT 5
$146.4K
$128.1K – $170.8K
NOI $10,247 @ 7.0% cap · market cap 2.94%
Second Best
Apartment 5plus
$134.9K
$118.1K – $157.4K
NOI $9,444 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$460.1K
$402.6K – $536.8K
NOI $32,208 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
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Business Placement
Demographics for 97862, OR
11,512
Population
5,245
Households
2.2
Avg Household Size
39
Median Age
13%
College-Educated
79%
High-School Grad
292.9 sq mi
ZIP Area
39
Density / Sq Mi
$54,013
Median Household Income
$32,787
Median Earnings
$858
Median Rent
$225,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - The property contains three rental units within a 2,198-square-foot building.
Where is this triplex located?
The property is located at 84311 Highway 339 Milton Freewater, OR.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Three rental units; 2,198‑square‑foot building; Built in 1984
