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430 Metzler St 7 Unit Apartment Building $1,343,063 CAD ($191,866 CAD/Unit) 6.18% Cap Rate Molalla, OR 97038
Investment Highlights
- Affordable Portland MSA Access — 30 miles from Portland in a supply-constrained Clackamas County submarket
- Operational value-add by implementing Utility Bill-backs
Executive Summary
Well-maintained 7-unit apartment community blocks from downtown Molalla situated on a clean, manicured .32 acre lot. The current ownership has executed a methodical renovation program: four of six two-bedroom units and the three bedroom unit have been updated with new cabinetry, appliances, LVP flooring, updated light fixtures, and fresh paint throughout. Units are being converted to include in-unit laundry on each turnover, with 5/7 complete. The two-story 2 bedroom floor plans are spacious with carpeted living areas, bedroom-level separation, and sliding glass doors opening to private concrete back patios on each unit. This is an excellent operational value-add play by implementing utility bill-backs (RUBS) and getting rents to market. A short path to filling the remaining vacancy proposes a rent roll of $9,685/mo.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$160,093
|
$26.00
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$8,005
|
$1.30
|
| Effective Gross Income |
$152,088
|
$24.70
|
| Taxes |
$12,582
|
$2.04
|
| Operating Expenses |
$56,551
|
$9.18
|
| Total Expenses |
$69,133
|
$11.23
|
| Net Operating Income |
$82,956
|
$13.47
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $160,093 |
| Annual Per SF | $26.00 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $8,005 |
| Annual Per SF | $1.30 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $152,088 |
| Annual Per SF | $24.70 |
| Taxes (CAD) | |
|---|---|
| Annual | $12,582 |
| Annual Per SF | $2.04 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $56,551 |
| Annual Per SF | $9.18 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $69,133 |
| Annual Per SF | $11.23 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $82,956 |
| Annual Per SF | $13.47 |
Property Facts
| Price | $1,343,063 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $191,866 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.31 AC |
| Cap Rate | 6.18% | Building Size | 6,500 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 85% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1977 |
| Property Subtype | Apartment | Parking Ratio | 2.31/1,000 SF |
| Zoning | R3 - 701 - Multi-Family | ||
| Price | $1,343,063 CAD |
| Price Per Unit | $191,866 CAD |
| Sale Type | Investment |
| Cap Rate | 6.18% |
| Sale Condition | 1031 Exchange |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 6,500 SF |
| Average Occupancy | 85% |
| No. Stories | 2 |
| Year Built | 1977 |
| Parking Ratio | 2.31/1,000 SF |
| Zoning | R3 - 701 - Multi-Family |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Sprinkler System
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 01093239 | Total Assessment | $656,354 CAD |
| Land Assessment | $0 CAD | Annual Taxes | $12,582 CAD ($1.94 CAD/SF) |
| Improvements Assessment | $0 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
01093239
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$656,354 CAD
Annual Taxes
$12,582 CAD ($1.94 CAD/SF)
Tax Year
2025
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430 Metzler St
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