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33204166
33204181

308 HIGH ST, OREGON CITY, OR 97045-2213

DB
199910100, 25965 (+3)
Keller Williams Realty Portland Premiere
Keller Williams Realty Portland Premiere
Listed by Keller Williams Realty Portland Premiere
$599,900
8 days on market
Updated 8 days ago
Opportunity zone

High St | Oregon City Three Unit Income Opportunity

Details
APN 22E31AC11000
Property Type Multifamily
Sub Type Single Family Rental Portfolio
Square Footage 3,174
Net Rentable (SqFt) 3,057
Units 3
Cap Rate 6.3%
NOI $37,814
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 6.44%
Pro-Forma NOI $38,611
Price per SqFt $189
Class B
Year Built 1905
Year Renovated 2016, 2017, 2025
Buildings 1
Stories 2
Acreage 0.080
Zoning R3.5
Investment Type Stabilized
Sale Condition 1031 exchange

Three-unit Oregon City investment property with historic character and stabilized income

Marketing description

** 3 Unit Income Opportunity or House Hack ** Set across from Promenade Park with views toward historic downtown Oregon City and Willamette Falls, this three-unit multifamily offering pairs in-place income with a memorable High Street setting. Built in 1905 and configured with one unit on each level, this property gives investors an established rental profile in one of Oregon City’s most recognizable historic areas. The seller completed substantial work during ownership, strengthening both curb appeal and core functionality. *Exterior work in 2025 included roof, siding, and gutter replacement, kitchen porch and porch roof replacement, dormer window repairs, select window replacement, porch rail repairs, and fencing repairs. Inside, the units benefited from updated kitchen cabinets and appliances, lighting fixtures, bathroom updates, heating updates, plumbing repairs as needed, fresh paint, and attic finish work. The basement utility area was also improved with updated electrical panels, furnaces, and water heaters. The location is a key retention driver, with nearby access to downtown Oregon City, the Municipal Elevator, Main Street shops, coffee, restaurants, pubs, river viewpoints, Willamette Falls views, Clackamette Park, Canemah, Providence Willamette Falls Medical Center, Clackamas Community College, and commuter routes. Tenants can enjoy walkable access to scenic outdoor spaces, local dining, daily services, and the downtown core, creating a convenient setting that supports consistent demand. Street parking. Buyer to verify all property details, unit configuration, rents, expenses, square footage, zoning, legal use, and future potential.

Investment highlights

  • Oregon City Three Unit Offering

Originally Built in 1905 and configured with one unit on each level, 308 High St offers investors a rare opportunity to acquire an income producing property in one of Oregon City’s most recognizable historic locations.

  • Flexible Long Term Investment Profile

With three units, existing rental history, and a central Oregon City location, the property may appeal to buyers seeking a stabilized rental asset, future repositioning potential, or an eventual owner occupant strategy, subject to buyer due diligence.

  • Tenant Retention Drivers Nearby

Tenants are close to the Municipal Elevator, McLoughlin Promenade, downtown Oregon City shops, coffee, restaurants, pubs, river viewpoints, Willamette Falls views, Clackamette Park, Canemah, Providence Willamette Falls Medical Center, Clackamas Community College, and commuter routes.

  • Significant Owner Improvements During Ownership

During the seller’s ownership, the property benefited from significant improvements across the exterior, interior, and core building systems, supporting both day to day tenant use and long term investment performance.

Listing Contacts

DB
199910100, 25965 (+3)
Keller Williams Realty Portland Premiere
Keller Williams Realty Portland Premiere
Listed by Keller Williams Realty Portland Premiere

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$37,814.00
$3,151.17/mo

Valuation Metrics

0
DSCR
6.3%
Cap Rate
6.3%
ROI

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