Tri-Level Condo Near University of
For Sale
$385,000
974 LINCOLN ST, Eugene, OR 97401
Spacious tri-level condo with designer potential near University of Oregon.
Property Size1,443 SF
Days on Market458
Property Features for 974 LINCOLN ST
General Information
Standard status
Active
Size
1,443 SF
Property subtype
Condominium
Site & Location
Neighborhood
Downtown Neighborhood Association
Amenities
Fireplace
Heat Pump
Forced Air
Dishwasher
Disposal
Deck, Patio, Porch, Built Up
Building Details
Building Size
1,443 SF
Year Built
1980
Stories
3
Listing Agency:
Keller Williams Realty Eugene & Springfield
Listed By:
Lindsay Sholian · License #201204648
(541) 913-4346
Source:
Kw
Added: Aug 1, 2025
Changed: Oct 25
Last Checked: Nov 1 at 11:18AM
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 Keller Williams Realty Eugene & Springfield
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Investment Insights
Based on property information with market context.
This tri-level condo, designed by Unthank, Ceder & Poticha, offers a blend of urban living and architectural design. The unit features original finishes, presenting an opportunity for customization. Natural cork flooring, expansive windows, and an open-concept layout connect the kitchen, dining, and living areas. A wood-burning fireplace adds character. The condo includes two private decks. All bedrooms feature custom built-in shelving and ample closet space. In-unit laundry and storage are available. The property is located near the University of Oregon, the Eugene Public Library, and downtown. Residents have access to two secured underground parking spaces and secure bike storage within a gated community. The inner courtyard offers landscaping and water features.
Key Highlights
- Prime location near the University of Oregon, Eugene Public Library, and downtown.
- Spacious tri‑level condo with open‑concept layout and abundant natural light.
- Two secured underground parking spaces and secure bike storage.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,291
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$225,820
$225.8K
Cap Rate 7%
$161,300
$161.3K
Cap Rate 9%
$125,456
$125.5K
Market Conditions
NOI Build-Up for 1,443 SF
Gross rent
$20.8K $14.40/SF
− Vacancy
−$249 −$0.17/SF
EGI
$20.5K $14.23/SF
− OpEx
−$9.2K −$6.40/SF
NOI
$11.3K $7.82/SF
Area
Eugene, OR
Vacancy
1.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$225,820
Cap Rate 7%
$161,300
Cap Rate 9%
$125,456
Alternative Uses
Best Use
Apartment 5plus
$161.3K
$141.1K – $188.2K
NOI $11,291 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$435.4K
$381.0K – $507.9K
NOI $30,476 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
5,436
Businesses Nearby
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Business Placement
Demographics for 97401, OR
45,634
Population
24,220
Households
1.9
Avg Household Size
32
Median Age
47%
College-Educated
96%
High-School Grad
9.3 sq mi
ZIP Area
4,907
Density / Sq Mi
$51,244
Median Household Income
$26,604
Median Earnings
$1,318
Median Rent
$472,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Spacious tri-level condo with designer potential near University of Oregon.
Where is this apartment building located?
The property is located at 974 LINCOLN ST Eugene, OR.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Prime location near the University of Oregon, Eugene Public Library, and downtown.; Spacious tri‑level condo with open‑concept layout and abundant natural light.; Two secured underground parking spaces and secure bike storage.
