2451 SE SALMON St, Portland, OR 97214
MULTI_FAMILY - Portland, OR
- Added:
- Feb 27, 2026
- Days on Market:
- 110
- Last Refresh:
- Jun 17 at 6:06 am
Property Features for 2451 SE SALMON St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R5
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bedroom 2, Bedroom 3, Bathroom 3, Bedroom 1, Bedroom 4, Bathroom 1
- Standard status
- Active
- APN
- R287916
- Size
- 4,050 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Description
- TILTONS ADD, BLOCK 10, LOT 26
- Tax Annual Amount
- 9083
Building Details
- Year built
- 1927
- Floors in Building
- 3
- Number of units
- 2
- Roof type
- Composition
Listing agent Heather Jenkins (503) 515-1548
Listing office Lark and Fir Realty LLC 4834 SW Scholls Ferry Road, Portland, OR (503) 977-7776
Listing date Feb 27, 2026
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.
HighLights
- 1927 home with two distinct residences that share one common wall, each with its own entrance and address
- Both sides have separate utilities and full basements, giving flexibility for owner‑occupants or additional income
- Extensive recent updates: electrical, plumbing, HVAC, kitchen cabinetry & appliances, and fully renovated bathrooms
- New roof and gutters in 2025; composition roof
- Detached two‑car garage with separate meter for parking and potential EV charging, studio, office, or ADU (buyer to verify)
- Inner SE location on the Salmon Neighborhood Greenway between Hawthorne and Belmont; Walk Score 96 and Bike Score 97
Overview
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.1k | $21.00 |
| − Vacancy | −$4.4k | −$1.09 |
| EGI | $80.6k | $19.91 |
| − OpEx | −$24.2k | −$5.97 |
| NOI | $56.4k | $13.94 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.640378
- Latitude
- 45.51453
