Building Details

Year built 1984

Floors in Building 1

Building materials Concrete, WoodFrame

Roof type Built-Up

Listing Agency: John L. Scott Milton Freewater g***@johnlscott.com Show Phone

Listed By: Lewis Key Show Phone

Added: Oct 14 Last Checked: Oct 15 at 2:06AM

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MLS# 206616786

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.

This three-unit apartment property contains 2,198 square feet across a 0.4-acre parcel. Built in 1984, the building has concrete and wood-frame construction, a built-up roof, baseboard heating, and window-unit cooling. The property is located at 84311 Highway 339 in Milton-Freewater, Oregon.

Key Highlights

• Three units in a 2,198‑square‑foot building
• 0.4‑acre parcel zoned EFU
• 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 (±1% cap)

NOI $10,247 @ 7.0% cap · market cap 2.94%

Second Best

Apartment 5plus

$134.9K

$118.1K – $157.4K (±1% cap)

NOI $9,444 @ 7.0% cap · market cap 2.71%

Theoretical Best

Office A

$460.1K

$402.6K – $536.8K (±1% cap)

NOI $32,208 @ 7.0% cap · market cap 9.23%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Dental Office Building Supply Big Box & Wholesale Store (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

26

Businesses Nearby

Explore this area 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

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - Three rental units occupy an EFU-zoned parcel.

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 units in a 2,198‑square‑foot building; 0.4‑acre parcel zoned EFU; Built in 1984