Renovated Forest-Setting
For Sale
$650,000
85690 Cherry St, Florence, OR 97439
Two-building multifamily property near Old Town Florence with updated interiors and exterior improvements.
Property Size2,117 SF
Price / SF$307.04
Days on Market48
Property Features for 85690 Cherry St
General Information
Standard status
Active
Size
2,117 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1952
Buildings
2
Listing Agency:
Triple Oaks Realty LLC
Listed By:
Melissa Stiltner · License #201240500
(541) 225-8815
Source:
Wisser
Added: Sep 1
Changed: Oct 12
Last Checked: Oct 5 at 10:48PM
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 Triple Oaks Realty LLC
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Investment Insights
Based on property information with market context.
This triplex includes two buildings within a private forest setting near Florence, Oregon. The property contains three residential units, with updated interiors and exterior improvements throughout. The total property size is 2,117 square feet, and the buildings were constructed in 1952.
The property is located at 85690 Cherry St, approximately one mile from Old Town Florence. Its setting places it in front of the area’s sand dunes and the Siuslaw River, combining a wooded environment with proximity to established coastal amenities. The three-unit configuration provides a straightforward multifamily layout for residential income use.
The property is located at 85690 Cherry St, approximately one mile from Old Town Florence. Its setting places it in front of the area’s sand dunes and the Siuslaw River, combining a wooded environment with proximity to established coastal amenities. The three-unit configuration provides a straightforward multifamily layout for residential income use.
Key Highlights
- Three‑unit multifamily property arranged across two buildings
- 2,117‑square‑foot property built in 1952
- Updated interiors and exterior improvements throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,784
Cap Rate
3.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$415,680
$415.7K
Cap Rate 7%
$296,914
$296.9K
Cap Rate 9%
$230,933
$230.9K
Market Conditions
NOI Build-Up for 2,117 SF
Gross rent
$31.8K $15.00/SF
− Vacancy
−$2.1K −$0.98/SF
EGI
$29.7K $14.03/SF
− OpEx
−$8.9K −$4.21/SF
NOI
$20.8K $9.82/SF
Area
Lane County, OR
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$415,680
Cap Rate 7%
$296,914
Cap Rate 9%
$230,933
Alternative Uses
Best Use
Multifamily LT 5
$296.9K
$259.8K – $346.4K
NOI $20,784 @ 7.0% cap · market cap 3.20%
Second Best
Apartment 5plus
$276.4K
$241.9K – $322.5K
NOI $19,348 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$535.6K
$468.6K – $624.8K
NOI $37,490 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Explore this area
Business Placement
Demographics for 97439, OR
15,634
Population
9,056
Households
1.7
Avg Household Size
62
Median Age
27%
College-Educated
92%
High-School Grad
168.3 sq mi
ZIP Area
93
Density / Sq Mi
$58,576
Median Household Income
$36,146
Median Earnings
$1,164
Median Rent
$364,600
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
Frequently Asked Questions
What type of property is this?
Triplex - Two-building multifamily property near Old Town Florence with updated interiors and exterior improvements.
Where is this triplex located?
The property is located at 85690 Cherry St Florence, OR.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three‑unit multifamily property arranged across two buildings; 2,117‑square‑foot property built in 1952; Updated interiors and exterior improvements throughout
