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Willamette Pointe Apartments 1570 James St 24 Unit Apartment Building $4,850,000 ($202,083/Unit) 6.43% Cap Rate Woodburn, OR 97071

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Investment Highlights

Extensively Renovated in 2018 | All major systems, siding, windows, roof, interiors
Strong Submarket Fundamentals | North Marion County workforce vacancy sits at just 3.2%

I-5 Corridor Location | Dual-Metro Access Midway between Portland and Salem on Oregon's primary commerce corridor

Executive Summary

Willamette Pointe Apartments presents a rare opportunity to acquire a fully stabilized, 24-unit apartment community in the heart of Oregon's I-5 Corridor - Located in Woodburn, Oregon midway between Portland (30 miles) and Salem (20 miles). Comprised of six two-story buildings on 1.27 acres, the property was built in 1970 and extensively renovated in 2018 — including updated interiors, roofing, and exterior improvements — offering the operational profile of a modern asset at a compelling basis well below replacement cost. All 24 units are identically configured as two-bedroom, one-and-a-half-bath floor plans of 931 SF, providing management simplicity and broad tenant appeal. The property benefits from a dual-metro employment base and an established renter population. In-place rents average $1,737 per unit.

Willamette Pointe Apartments OM -compressed

Financial Summary (Actual - 2025)	Annual	Annual Per SF
Gross Rental Income	$443,508	$20.53
Other Income	$35,940	$1.66
Vacancy Loss	$22,175	$1.03
Effective Gross Income	$457,273	$21.17
Taxes	$28,125	$1.30
Operating Expenses	$117,297	$5.43
Total Expenses	$145,422	$6.73
Net Operating Income	$311,851	$14.44

Financial Summary (Actual - 2025)

Gross Rental Income
Annual	$443,508
Annual Per SF	$20.53

Other Income
Annual	$35,940
Annual Per SF	$1.66

Vacancy Loss
Annual	$22,175
Annual Per SF	$1.03

Effective Gross Income
Annual	$457,273
Annual Per SF	$21.17

Taxes
Annual	$28,125
Annual Per SF	$1.30

Operating Expenses
Annual	$117,297
Annual Per SF	$5.43

Total Expenses
Annual	$145,422
Annual Per SF	$6.73

Net Operating Income
Annual	$311,851
Annual Per SF	$14.44

Property Facts

Price	$4,850,000	Building Class	C
Price Per Unit	$202,083	Lot Size	1.27 AC
Sale Type	Investment	Building Size	21,600 SF
Cap Rate	6.43%	Average Occupancy	96%
No. Units	24	No. Stories	2
Property Type	Multifamily	Year Built/Renovated	1970/2018
Property Subtype	Apartment	Parking Ratio	2.22/1,000 SF
Apartment Style	Low-Rise	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	RM

Price	$4,850,000
Price Per Unit	$202,083
Sale Type	Investment
Cap Rate	6.43%
No. Units	24
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	1.27 AC
Building Size	21,600 SF
Average Occupancy	96%
No. Stories	2
Year Built/Renovated	1970/2018
Parking Ratio	2.22/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	RM