Multifamily Property Near Civic
2055 Willamette St Eugene, OR 97405
2055 Willamette St, Eugene, OR, 97405
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For Sale
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Four residential units near downtown Eugene and the University of Oregon.
Property Size4,804 SF
Lot Size0.36 Acres
Price / SF$273.73
Days on Market810
Property Features for 2055 Willamette St
General Information
- Standard status
- Active
- Size
- 4,804 SF
- Lot size
- 0.36 Acres
- Property subtype
- Multifamily
Listing agency
Campbell Commercial Real Estate
(541) 556-4813
Listed by
Abby Hyland · License #201256624
Source
Crexi
Added: May 3, 2024 Updated: Jul 6 at 8:26AM Checked: Jul 19 at 5:41AM
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 Campbell Commercial Real Estate
Investment Insights
Based on property information with market context.
This property offers an investment or development opportunity, featuring four residential units with a total of twelve bedrooms. Situated on a 0.36-acre lot, the property includes on-site parking. The three structures on the property total approximately 4,804 square feet and are zoned R-3. Redevelopment possibilities include townhouses, duplexes, or a multi-story apartment building. Located adjacent to the new Civic Park and Kidsports Facilities, the property is within walking distance of Downtown Eugene and the University of Oregon campus. Bus lines, grocery stores, restaurants, and other amenities are also nearby. This property is located in South Eugene.
Key Highlights
- Prime redevelopment opportunity with R‑3 zoning allowing for townhouses, duplexes, or a multi‑story apartment building.
- Four residential units totaling twelve bedrooms, providing immediate rental income potential.
- Desirable location adjacent to the new Civic Park and Kidsports Facilities.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.2k | $14.40 |
| − Vacancy | −$830 | −$0.17 |
| EGI | $68.3k | $14.23 |
| − OpEx | −$30.8k | −$6.40 |
| NOI | $37.6k | $7.82 |
4,804 SF · lease $14.40/SF/yr · vacancy 1.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$537.0K
$469.9K – $626.5K
NOI $37,591 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,460 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Multifamily property - Four residential units near downtown Eugene and the University of Oregon.
Where is this multifamily property located?
The property is located at 2055 Willamette St Eugene, OR.
What is the asking price?
The asking price for this property is $1,315,000.
What are key features of this property?
This property features: Prime redevelopment opportunity with R‑3 zoning allowing for townhouses, duplexes, or a multi‑story apartment building.; Four residential units totaling twelve bedrooms, providing immediate rental income potential.; Desirable location adjacent to the new Civic Park and Kidsports Facilities.
