Eugene Investment Property For Sale

304 E 13th Ave, Eugene, OR 97401

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For Sale

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Residential and retail investment property near the University of Oregon.

Type:Multifamily

Property size:

6,130 SF

Lot size:

0.07 Acres

Price / SF:

$220/SF

HighLights

Visible corner location near the University of Oregon and downtown Eugene.
Investment property with residential (apartment units) and retail (storefront) income potential.
Zoned C‑2 | Community Commercial, allowing for a variety of uses.
Six (6) one‑bedroom apartment units and one (1) three‑bedroom apartment unit.
1,200 square foot corner retail storefront.
Reduced price of $1,350,000.

We can help!

Contact an agent

Jeff Elder

Learn more

For Sale

Contact for pricing

Residential and retail investment property near the University of Oregon.

Type:Multifamily

Property size:

6,130 SF

Lot size:

0.07 Acres

Price / SF:

$220/SF

Added:: Oct 23, 2024
Days on Market:: 622
Last Refresh:: May 12 at 9:29 pm

Property Features for 304 E 13th Ave

General Information

Standard status: Active
Size: 6,130 SF
Lot size: 0.07 Acres
Property subtype: Multifamily

We can help!

Contact an agent

Jeff Elder

Listing office Evans, Elder Brown & Seubert

Listing date Oct 23, 2024

Source Crexi

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 Evans, Elder Brown & Seubert

HighLights

Visible corner location near the University of Oregon and downtown Eugene.
Investment property with residential (apartment units) and retail (storefront) income potential.
Zoned C‑2 | Community Commercial, allowing for a variety of uses.
Six (6) one‑bedroom apartment units and one (1) three‑bedroom apartment unit.
1,200 square foot corner retail storefront.
Reduced price of $1,350,000.

Overview

This investment property is located at the corner of E 13th Ave and High Street, within walking distance of the University of Oregon and downtown Eugene. The property is zoned C-2, Community Commercial. 304 East 13th Ave features two one-bedroom apartment units and one three-bedroom apartment unit, totaling 2,050 finished square feet on a 3,039 square foot site. 320 East 13th Ave and 1315 High St include six one-bedroom apartment units and a 1,200 square foot corner retail storefront. This portion of the property has 4,080 finished square feet on a 2,178 square foot site. The total property size is 6,130 square feet.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$132.4k	$21.60
− Vacancy	−$5.3k	−$0.86
EGI	$127.1k	$20.74
− OpEx	−$38.1k	−$6.22
NOI	$89.0k	$14.52

6,130 SF · lease $21.60/SF/yr · vacancy 4.00% · expense 30.00%

Alternative Uses

Best Use

Retail

$1.27M

$1.11M – $1.48M (±1% cap)

NOI $88,978 @ 7.0% cap · market cap 6.59%

Second Best

Apartment 5plus

$685.2K

$599.6K – $799.5K (±1% cap)

NOI $47,967 @ 7.0% cap · market cap 3.55%

Theoretical Best

Office A

$1.85M

$1.62M – $2.16M (±1% cap)

NOI $129,466 @ 7.0% cap · market cap 9.59%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Our World Vintage ... (Bike/Boat/Book/etc) Store

Suggested Use

Location Insight

Map
Local Demand

City: Eugene
County: Lane
State: Oregon
Longitude: -123.0879952
Latitude: 44.0453746

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For sale
Apartment buildings
OR
Eugene
97401
304 E 13th Ave

What type of property is this?

Apartment building - Residential and retail investment property near the University of Oregon.

Where is this apartment building located?

The property is located at 304 E 13th Ave Eugene, OR.

What is the asking price?

The asking price for this property is $1,350,000.

What are key features of this property?

This property features: Visible corner location near the University of Oregon and downtown Eugene.; Investment property with residential (apartment units) and retail (storefront) income potential.; Zoned C‑2 | Community Commercial, allowing for a variety of uses.