Listed by First Commercial Real Estate Services
$2,295,000
Warren Street Student Housing
Details
APN 195959,08525-DA-07900
Property Type Multifamily
Sub Type Student Housing, Apartment Building
Square Footage 11,527
Units 9
Cap Rate 3.96%
NOI $90,883
Pro-Forma Cap Rate 5.45%
Pro-Forma NOI $125,029
Price per SqFt $199
Year Built 2004
Buildings 3
Acreage 0.450
Zoning RH
Investment Type Stabilized
422-438 Warren St S, Monmouth, OR 97361
Marketing description
The property at 422-438 Warren St S is a 9-unit student housing portfolio located in Monmouth, Oregon. Built in 2004, the asset consists of two four-plex buildings (eight 3-bedroom, 3-bathroom units at 1,295 SF each) and one detached single-family home (2BR/3BA with garage, 1,075 SF), totaling 11,527 SF on 0.45 acres. The 3-bedroom, 3-bathroom configuration is a high-value rarity in the Monmouth/Independence market, commanding a 10–15% premium over standard 2-bathroom units due to their appeal to university roommate groups. The asset is in excellent condition and represents a significant upgrade over the aging market-base inventory in the submarket. 2025 Actual NOI: $90,883 | Proforma NOI: $125,029 | Gross Income: $155,400
Investment highlights
- Priced at $255,000/unit
- Strong rental history
- Each unit has washer & dryer
Listing Contacts
Listed by First Commercial Real Estate Services
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$90,883.00
$7,573.58/mo
Valuation Metrics
0
DSCR
3.96%
Cap Rate
3.96%
ROI
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