Three-Unit Multifamily
For Sale
$389,000
Pending
877 Landing St, Sutherlin, OR 97479
R2-zoned residential income property with a varied three- and four-bedroom unit mix.
Property Size3,988 SF
Days on Market8
Property Features for 877 Landing St
General Information
Standard status
Pending
Size
3,988 SF
Total Parking Spaces
8
Property subtype
Multi Family Home
Zoning
R2
Units
Unit Mix
2 x 4BR/2BA, 1 x 3BR/2BA
Multifamily Units
3
Building Details
Building Size
3,988 SF
Year Built
1995
Stories
2
Units
3
Listing Agency:
eXp Realty, LLC
(541) 671-0578
Listed By:
Deleta Dickson · License #201235876
(541) 671-0578
Source:
Metanars
Added: Aug 4
Changed: Aug 8
Last Checked: Aug 10 at 11:23AM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1995, this R2-zoned triplex contains three residential units. Two apartments offer four bedrooms and two bathrooms each, while the center apartment provides three bedrooms and two bathrooms. The configuration supports a residential income use with a mix of larger apartment layouts.
The property is located at 877 Landing St in Sutherlin, Oregon. Existing tenants have expressed interest in remaining, and the seller is seeking a buyer willing to retain the current occupants. Buyers should independently verify property details and conduct their own due diligence.
The property is located at 877 Landing St in Sutherlin, Oregon. Existing tenants have expressed interest in remaining, and the seller is seeking a buyer willing to retain the current occupants. Buyers should independently verify property details and conduct their own due diligence.
Key Highlights
- Triplex with three residential units
- Two units feature 4 bedrooms and 2 bathrooms each
- Center unit includes 3 bedrooms and 2 bathrooms
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
$20,451
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
5.26%
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%
$409,020
$409.0K
Cap Rate 7%
$292,157
$292.2K
Cap Rate 9%
$227,233
$227.2K
Market Conditions
NOI Build-Up for 3,988 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
$31.6K $7.92/SF
− Vacancy
−$2.4K −$0.59/SF
EGI
$29.2K $7.33/SF
− OpEx
−$8.8K −$2.20/SF
NOI
$20.5K $5.13/SF
Area
Douglas County, OR
Vacancy
7.50%
Lease Rate
$7.92 /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%
$409,020
Cap Rate 7%
$292,157
Cap Rate 9%
$227,233
Alternative Uses
Best Use
Multifamily LT 5
$292.2K
$255.6K – $340.9K
NOI $20,451 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$274.2K
$240.0K – $319.9K
NOI $19,196 @ 7.0% cap · market cap 4.93%
Theoretical Best
Specialty Retail
$690.2K
$604.0K – $805.3K
NOI $48,316 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
Explore this area
Business Placement
Demographics for 97479, OR
10,161
Population
4,759
Households
2.1
Avg Household Size
47
Median Age
15%
College-Educated
94%
High-School Grad
67.5 sq mi
ZIP Area
151
Density / Sq Mi
$56,493
Median Household Income
$36,867
Median Earnings
$1,207
Median Rent
$281,500
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?
Triplex - R2-zoned residential income property with a varied three- and four-bedroom unit mix.
Where is this triplex located?
The property is located at 877 Landing St Sutherlin, OR.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Triplex with three residential units; Two units feature 4 bedrooms and 2 bathrooms each; Center unit includes 3 bedrooms and 2 bathrooms
