3-Unit Multifamily
945 MADISON St, Eugene, OR 97402
For Sale
$589,000
MultiFamily, Eugene, OR
Property Size2,109 SF
Lot Size0.11 Acres
Price / SF$279.28
Days on Market102
Property Features for 945 MADISON St
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Elementary school
Middle school
High school
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Building Details
Year built
Floors in Building
Number of units
Roof type
Listing Agency:
Windermere RE Lane County · Windermere Real Estate
(541) 484-2022
Listed By:
David Baslaw · License OR #200611115
(541) 868-4777
Added: Aug 4
Changed: Nov 13
Last Checked: Nov 13 at 11:06PM
MLS# 343676879
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This multifamily property contains three apartments within 2,109 square feet. Two units each have two bedrooms and one bathroom; the third has one bedroom and one bathroom. The one-bedroom apartment is vacant. The building was constructed in 1976 and has zoned heating and a composition roof.
The property occupies a 0.11-acre lot in downtown Eugene, Oregon, at 945 Madison St. Its zoning designation is S-JW.
The property occupies a 0.11-acre lot in downtown Eugene, Oregon, at 945 Madison St. Its zoning designation is S-JW.
Key Highlights
- Three apartments: two 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit
- 2,109 square feet of building area
- 0.11‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,915
Cap Rate
3.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$378,300
$378.3K
Cap Rate 7%
$270,214
$270.2K
Cap Rate 9%
$210,167
$210.2K
Market Conditions
NOI Build-Up for 2,109 SF
Gross rent
$27.3K $12.96/SF
− Vacancy
−$312 −$0.15/SF
EGI
$27.0K $12.81/SF
− OpEx
−$8.1K −$3.84/SF
NOI
$18.9K $8.97/SF
Area
Eugene, OR
Vacancy
1.14%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$378,300
Cap Rate 7%
$270,214
Cap Rate 9%
$210,167
Alternative Uses
Best Use
Multifamily LT 5
$270.2K
$236.4K – $315.3K
NOI $18,915 @ 7.0% cap · market cap 3.21%
Second Best
Apartment 5plus
$235.8K
$206.3K – $275.1K
NOI $16,503 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$636.3K
$556.8K – $742.4K
NOI $44,542 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,140
Businesses Nearby
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Business Placement
Demographics for 97402, OR
56,610
Population
23,882
Households
2.4
Avg Household Size
38
Median Age
26%
College-Educated
91%
High-School Grad
68.6 sq mi
ZIP Area
825
Density / Sq Mi
$55,743
Median Household Income
$35,728
Median Earnings
$1,287
Median Rent
$330,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Two two-bedroom apartments and one one-bedroom unit make up this downtown Eugene property.
Where is this triplex located?
The property is located at 945 MADISON St Eugene, OR.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Three apartments: two 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit; 2,109 square feet of building area; 0.11‑acre lot
