Multifamily Property with Detached
For Sale
$528,000
Pending
1523 NE Dekum ST, Portland, OR 97211
Updated building systems and a landscaped backyard complement the property’s residential configuration.
Property Size2,680 SF
Days on Market12
Property Features for 1523 NE Dekum ST
General Information
Standard status
Pending
Size
2,680 SF
Property subtype
Multi-Family
Amenities
hardwood floors
patio
garden shed
garden area
Building Details
Year Built
1952
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 753-3151
Listed By:
Realty Portland Team
(503) 966-4371
Source:
Realtyportland
Added: Oct 7
Changed: Oct 16
Last Checked: Oct 16 at 9:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Portland Premiere
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Investment Insights
Based on property information with market context.
This 2,680-square-foot multifamily property, built in 1952, features hardwood floors and original interior details. Improvements include a remodeled kitchen, a 2025 roof, updated electrical, PEX plumbing, and newer furnace and central air conditioning systems. A detached shop was formerly a two-car garage, and a long driveway provides off-street parking.
The backyard includes a patio, stone-paver garden area, and garden shed. The property is in Portland’s Woodlawn area, near the Dekum Triangle, with neighborhood restaurants, breweries, shopping, and entertainment nearby.
The backyard includes a patio, stone-paver garden area, and garden shed. The property is in Portland’s Woodlawn area, near the Dekum Triangle, with neighborhood restaurants, breweries, shopping, and entertainment nearby.
Key Highlights
- 2,680‑square‑foot multifamily property built in 1952
- 2025 roof; updated electrical and PEX plumbing
- Newer furnace and central AC systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,411
Cap Rate
6.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$688,220
$688.2K
Cap Rate 7%
$491,586
$491.6K
Cap Rate 9%
$382,344
$382.3K
Market Conditions
NOI Build-Up for 2,680 SF
Gross rent
$65.9K $24.60/SF
− Vacancy
−$3.4K −$1.25/SF
EGI
$62.6K $23.35/SF
− OpEx
−$28.2K −$10.51/SF
NOI
$34.4K $12.84/SF
Area
Portland, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$688,220
Cap Rate 7%
$491,586
Cap Rate 9%
$382,344
Alternative Uses
Best Use
Apartment 5plus
$491.6K
$430.1K – $573.5K
NOI $34,411 @ 7.0% cap · market cap 6.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$752.6K
$658.5K – $878.1K
NOI $52,683 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Explore this area
Business Placement
Demographics for 97211, OR
33,762
Population
15,106
Households
2.2
Avg Household Size
38
Median Age
56%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,755
Density / Sq Mi
$109,604
Median Household Income
$59,171
Median Earnings
$1,818
Median Rent
$616,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Updated building systems and a landscaped backyard complement the property’s residential configuration.
Where is this multifamily property located?
The property is located at 1523 NE Dekum ST Portland, OR.
What is the asking price?
The asking price for this property is $528,000.
What are key features of this property?
This property features: 2,680‑square‑foot multifamily property built in 1952; 2025 roof; updated electrical and PEX plumbing; Newer furnace and central AC systems
