Well-Maintained Albany Fourplex For
For Sale
Contact for pricing
Pending
920 SE 18th Ave, Albany, OR 97322
Desirable Albany 4-plex with solid rents and recent upgrades.
Property Size3,456 SF
Days on Market166
Property Features for 920 SE 18th Ave
General Information
Standard status
Pending
Size
3,456 SF
Property subtype
Multifamily
Zoning
Albany RM
Building Details
Year Built
1965
Buildings
1
Stories
2
Units
4
Listing Agency:
SMI Real Estate
(541) 990-3795
Listed By:
Eric Swanson · License #201221479
Source:
Crexi
Added: Feb 26
Changed: Aug 8
Last Checked: Aug 11 at 5:54PM
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 SMI Real Estate
Investment Insights
Based on property information with market context.
This well-maintained fourplex features units with a layout of two bedrooms and one bathroom. The property is currently producing $4,720 per month in gross scheduled income. Recent improvements include a new roof and a new driveway, both completed within the last couple of years. The property is centrally located in Albany, near schools and services. The property size is 3,456 square feet. Another neighboring fourplex located at 910 SE 18th Ave in Albany is also available for sale.
Key Highlights
- Solid in‑place rents producing $4,720/mo gross scheduled income.
- Desirable 2 bed / 1 bath units.
- New roof and new driveway completed within the last couple of years.
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
$32,624
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
4.48%
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%
$652,480
$652.5K
Cap Rate 7%
$466,057
$466.1K
Cap Rate 9%
$362,489
$362.5K
Market Conditions
NOI Build-Up for 3,456 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
$47.7K $13.80/SF
− Vacancy
−$1.1K −$0.31/SF
EGI
$46.6K $13.49/SF
− OpEx
−$14.0K −$4.05/SF
NOI
$32.6K $9.44/SF
Area
Linn County, OR
Vacancy
2.28%
Lease Rate
$13.80 /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%
$652,480
Cap Rate 7%
$466,057
Cap Rate 9%
$362,489
Alternative Uses
Best Use
Multifamily LT 5
$466.1K
$407.8K – $543.7K
NOI $32,624 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$429.3K
$375.7K – $500.9K
NOI $30,054 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$1.01M
$881.0K – $1.17M
NOI $70,476 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
Explore this area
Business Placement
Demographics for 97322, OR
37,148
Population
14,867
Households
2.5
Avg Household Size
37
Median Age
22%
College-Educated
91%
High-School Grad
63.3 sq mi
ZIP Area
587
Density / Sq Mi
$68,536
Median Household Income
$43,530
Median Earnings
$1,335
Median Rent
$321,200
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?
Quadplex - Desirable Albany 4-plex with solid rents and recent upgrades.
Where is this quadplex located?
The property is located at 920 SE 18th Ave Albany, OR.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: Solid in‑place rents producing $4,720/mo gross scheduled income.; Desirable 2 bed / 1 bath units.; New roof and new driveway completed within the last couple of years.
