10-Unit Apartment Complex with
For Sale
$1,998,000
8856 SE Jannsen Road, Clackamas, OR 97015
Clackamas County 10-unit complex with 2 bed/1 bath layouts and washer/dryer hookups, featuring major updates and gated access.
Property Size8,100 SF
Lot Size0.89 Acres
Price / SF$246.67
Days on Market228
Property Features for 8856 SE Jannsen Road
General Information
Standard status
Active
Size
8,100 SF
Lot size
0.89 Acres
Property subtype
Multi-family
Zoning
HDR
Additional Details
Fenced Yard
Yes
Multifamily Units
10
Building Details
Year Built
1977
Tenancy
Multi
Listing Agency:
Elite Realty & Associates LLC
Listed By:
Connie Brockway
(877) 319-7625
Source:
Century21northhomes
Added: Jan 14
Changed: Aug 28
Last Checked: Aug 29 at 11:14AM
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 Elite Realty & Associates LLC
Investment Insights
Based on property information with market context.
This 10-unit apartment complex in Clackamas County consists of individual 2 bed, 1 bath apartments with washer/dryer hookup in each unit. The property has been 80% updated, including electric gate access and fenced perimeter. Updates also include new windows and exterior doors across all units, as well as improved kitchens, lighting, paint, flooring, bathrooms, and electrical panels in eight units.
The property is situated on approximately 0.89 acres. Zoning is identified as HDR, and the buyer is to verify zoning details and future possibilities with the city.
Electric-gated, fenced site configuration supports straightforward day-to-day access, while the uniform unit mix and in-unit laundry hookups may appeal to tenants seeking functional, updated interiors.
The property is situated on approximately 0.89 acres. Zoning is identified as HDR, and the buyer is to verify zoning details and future possibilities with the city.
Electric-gated, fenced site configuration supports straightforward day-to-day access, while the uniform unit mix and in-unit laundry hookups may appeal to tenants seeking functional, updated interiors.
Key Highlights
- 10‑unit apartment complex in Clackamas County (Year built 1977), each unit with 2 bed/1 bath layout
- Washer/dryer hookups in each unit
- 0.89‑acre property with future possibilities; zoning HDR—buyer to verify with city
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
$104,004
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
5.21%
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%
$2,080,080
$2.1M
Cap Rate 7%
$1,485,771
$1.5M
Cap Rate 9%
$1,155,600
$1.2M
Market Conditions
NOI Build-Up for 8,100 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
$199.3K $24.60/SF
− Vacancy
−$10.2K −$1.25/SF
EGI
$189.1K $23.35/SF
− OpEx
−$85.1K −$10.51/SF
NOI
$104.0K $12.84/SF
Area
Clackamas County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$2,080,080
Cap Rate 7%
$1,485,771
Cap Rate 9%
$1,155,600
Alternative Uses
Best Use
Apartment 5plus
$1.49M
$1.30M – $1.73M
NOI $104,004 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.19M
$1.91M – $2.55M
NOI $153,047 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
754
Businesses Nearby
Explore this area
Business Placement
Demographics for 97015, OR
23,265
Population
9,420
Households
2.5
Avg Household Size
37
Median Age
31%
College-Educated
92%
High-School Grad
8.8 sq mi
ZIP Area
2,644
Density / Sq Mi
$82,865
Median Household Income
$48,808
Median Earnings
$1,778
Median Rent
$491,300
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?
Apartment building - Clackamas County 10-unit complex with 2 bed/1 bath layouts and washer/dryer hookups, featuring major updates and gated access.
Where is this apartment building located?
The property is located at 8856 SE Jannsen Road Clackamas, OR.
What is the asking price?
The asking price for this property is $1,998,000.
What are key features of this property?
This property features: 10‑unit apartment complex in Clackamas County (Year built 1977), each unit with 2 bed/1 bath layout; Washer/dryer hookups in each unit; 0.89‑acre property with future possibilities; zoning HDR—buyer to verify with city
