Sixth Street Apartments — Sale in Umatilla, OR

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Umatilla, OR 97882

Photos

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Investment Figures

Cap rate
5.60%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

The Rhoades Group of Marcus & Millichap is pleased to exclusively present the Sixth Street Apartments, a ten unit multifamily investment opportunity located in Umatilla, Oregon. The property consists of one building on a 0.42 acre tax lot and was originally constructed in 1949. Over time, the asset has been significantly upgraded and modernized. During the current owner’s 20 plus years of ownership, the property has been professionally managed and consistently maintained, with key capital improvements including updated electrical wiring in 2010, new electrical panels in 2025, a fire rated 30 year membrane roof installed in 2015 with blown in fiberglass attic insulation, heat pumps added to all units in 2014, and new insulated front doors and vinyl windows also completed in 2014, enhancing tenant comfort and long term durability. The property features a desirable unit mix of three two bedroom units, three one bedroom units, and four studio units, well suited for workforce renters. The site offers convenient access and parking, providing residents with ease of mobility and connectivity to regional employment centers and amenities. Current ownership has maintained the property in clean, stable condition, offering a value add opportunity for an incoming investor. Unit 10 is currently vacant and fully gutted, providing immediate upside through renovation and lease up. Additionally, one two bedroom unit is expected to become available upon request, allowing a buyer to renovate up to approximately 20 percent of the units early in ownership and drive immediate NOI growth. Sixth Street Apartments is located in the growing Umatilla Hermiston market, one of Eastern Oregon’s strongest and most supply constrained rental corridors. The region is supported by agriculture, logistics, manufacturing, and expanding data center investment in Umatilla and Morrow County, alongside Hermiston’s role as the area’s primary commercial and employment hub. The property also benefits from proxim

Market Context

This multifamily in Umatilla, OR is listed for sale. It is offered at an approximate 5.6% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Umatilla, OR — view the full market.

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