Six-Unit Apartment
For Sale
$999,950
1805 NE 8TH Ave, Portland, OR 97212
MultiFamily, Portland, OR
Property Size2,883 SF
Lot Size0.12 Acres
Price / SF$346.84
Days on Market689
Property Features for 1805 NE 8TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM3
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1
Subdivision
IRVINGTON
Elementary school
Irvington
Middle school
Harriet Tubman
High school
Jefferson
Directions
NE 8th Ave and NE Schuyler
Standard status
Active
APN
R182544
Size
2,883 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
HOLLADAYS ADD, BLOCK 252, LOT 5
Tax Annual Amount
8112
Legal Description
HOLLADAYS ADD, BLOCK 252, LOT 5
Utilities
Heating system
Gravity
Amenities
on-site laundry
personal storage
Building Details
Year built
1940
Floors in Building
1
Number of units
6
Listing Agency:
eXp Realty, LLC
(888) 814-9613
Listed By:
Lillie Barr
(503) 313-8806
Added: Nov 17, 2024
Changed: Oct 7
Last Checked: Oct 7 at 11:06AM
MLS# 24611974
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 six-unit apartment property contains six one-bedroom residences within 2,883 square feet on a 0.12-acre parcel. The building was constructed in 1940 and includes on-site laundry, personal storage, and gravity heating. RM3 zoning supports its multifamily classification.
Located at 1805 NE 8th Ave in Portland, the property is positioned near coffee shops, dining, bus service, and highway access. The surrounding Northeast Portland setting provides residents with several everyday conveniences within the immediate area.
Located at 1805 NE 8th Ave in Portland, the property is positioned near coffee shops, dining, bus service, and highway access. The surrounding Northeast Portland setting provides residents with several everyday conveniences within the immediate area.
Key Highlights
- Six one‑bedroom apartment residences
- 2,883 square feet on a 0.12‑acre parcel
- RM3 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,018
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$740,360
$740.4K
Cap Rate 7%
$528,829
$528.8K
Cap Rate 9%
$411,311
$411.3K
Market Conditions
NOI Build-Up for 2,883 SF
Gross rent
$70.9K $24.60/SF
− Vacancy
−$3.6K −$1.25/SF
EGI
$67.3K $23.35/SF
− OpEx
−$30.3K −$10.51/SF
NOI
$37.0K $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%
$740,360
Cap Rate 7%
$528,829
Cap Rate 9%
$411,311
Alternative Uses
Best Use
Apartment 5plus
$528.8K
$462.7K – $617.0K
NOI $37,018 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$809.6K
$708.4K – $944.6K
NOI $56,673 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,776
Businesses Nearby
Explore this area
Business Placement
Demographics for 97212, OR
26,568
Population
12,064
Households
2.2
Avg Household Size
40
Median Age
70%
College-Educated
98%
High-School Grad
2.7 sq mi
ZIP Area
9,840
Density / Sq Mi
$128,098
Median Household Income
$65,836
Median Earnings
$1,790
Median Rent
$824,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six one-bedroom residences include on-site laundry and individual storage.
Where is this apartment building located?
The property is located at 1805 NE 8TH Ave Portland, OR.
What is the asking price?
The asking price for this property is $999,950.
What are key features of this property?
This property features: Six one‑bedroom apartment residences; 2,883 square feet on a 0.12‑acre parcel; RM3 zoning
