Corner-Lot Duplex with Private
For Sale
$725,000
135 NE 55TH Ave, Portland, OR 97213
MultiFamily, Portland, OR
Property Size2,700 SF
Lot Size0.13 Acres
Price / SF$268.52
Days on Market204
Property Features for 135 NE 55TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2.5
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 5, Bedroom 2, Bathroom 1, Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 1
Elementary school
Glencoe
Middle school
Mt Tabor
High school
Franklin
Directions
Burnside to NE 55th
Subdivision
_142
Standard status
Active
APN
R130725
Size
2,700 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
CENTER ADD, BLOCK 13, LOT 1, E 10' OF LOT 2
Tax Annual Amount
7223
Legal Description
CENTER ADD, BLOCK 13, LOT 1, E 10' OF LOT 2
Utilities
Heating system
Forced Air
Building Details
Year built
1950
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Premiere Property Group, LLC
(503) 670-9000
Listed By:
Jennifer Lillie
(503) 502-3161
Added: Feb 26
Changed: Sep 13
Last Checked: Sep 18 at 1:06AM
MLS# 260673167
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,700-square-foot duplex, built in 1950, contains two separately accessed residences on a 0.13-acre corner lot. Unit 133 includes two bedrooms, one bathroom, refinished hardwood floors, a stacked washer and dryer, dishwasher, gas range, refrigerator, fenced yards, and a covered patio. Unit 135 provides three bedrooms, two bathrooms arranged across two levels, vaulted beam ceilings, a wood-burning fireplace, a private driveway, one-car garage, and finished basement. The property is served by forced-air heat and has a composition roof.
The address is in Portland’s 97213 ZIP code, near shops, restaurants, Providence Hospital, parks, public transportation, downtown Portland, and major commuter routes. Separate entrances and differing floor plans support either continued rental use or an owner-occupant arrangement. Exterior updates include a roof installed in 2022 and vinyl windows added in 2021. Zoning is R-2.5.
The address is in Portland’s 97213 ZIP code, near shops, restaurants, Providence Hospital, parks, public transportation, downtown Portland, and major commuter routes. Separate entrances and differing floor plans support either continued rental use or an owner-occupant arrangement. Exterior updates include a roof installed in 2022 and vinyl windows added in 2021. Zoning is R-2.5.
Key Highlights
- 2,700 SF duplex on a 0.13‑acre corner lot
- Two separate units with private entrances
- Unit 133: 2 bedrooms, 1 bathroom, hardwood floors, stacked W/D, fenced yards, and covered patio
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,626
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$752,520
$752.5K
Cap Rate 7%
$537,514
$537.5K
Cap Rate 9%
$418,067
$418.1K
Market Conditions
NOI Build-Up for 2,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$56.7K $21.00/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$53.8K $19.91/SF
− OpEx
−$16.1K −$5.97/SF
NOI
$37.6K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$752,520
Cap Rate 7%
$537,514
Cap Rate 9%
$418,067
Alternative Uses
Best Use
Multifamily LT 5
$537.5K
$470.3K – $627.1K
NOI $37,626 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$495.3K
$433.4K – $577.8K
NOI $34,668 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$758.2K
$663.5K – $884.6K
NOI $53,076 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,415
Businesses Nearby
Explore this area
Business Placement
Demographics for 97213, OR
31,260
Population
14,971
Households
2.1
Avg Household Size
40
Median Age
61%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
7,815
Density / Sq Mi
$95,801
Median Household Income
$56,941
Median Earnings
$1,490
Median Rent
$609,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately accessed residences offer distinct layouts, outdoor areas, and rental or owner-occupant flexibility.
Where is this duplex located?
The property is located at 135 NE 55TH Ave Portland, OR.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 2,700 SF duplex on a 0.13‑acre corner lot; Two separate units with private entrances; Unit 133: 2 bedrooms, 1 bathroom, hardwood floors, stacked W/D, fenced yards, and covered patio
