Townhome-Style Fourplex Corner
2531 NW CEDAR Ave Redmond, OR 97756
For Sale
$1,149,000
MULTI_FAMILY - Redmond, OR
Property Size4,848 SF
Lot Size0.18 Acres
Price / SF$237
Days on Market114
Property Features for 2531 NW CEDAR Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
10
Bathrooms
12
Rooms
Bathroom 4, Bedroom 2, Bedroom 6, Bathroom 6, Bathroom 1, Bedroom 4, Bathroom 12, Bathroom 9, Bedroom 8, Bathroom 5, Bedroom 5, Bathroom 10, Bathroom 8, Bedroom 1, Bathroom 3, Bathroom 11, Bedroom 7, Bedroom 3, Bathroom 2, Bathroom 7, Bedroom 9, Bedroom 10
Standard status
Active
APN
207179
Size
4,848 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
Fairhaven Vista Phases 1 & 2 Lot 3
Tax Annual Amount
9144
Building Details
Year built
2002
Floors in Building
2
Number of units
10
Roof type
Composition
Listing Agency:
Keller Williams PDX Central
(503) 548-4848
Listed By:
Tami Liesy · License #200108097
(503) 388-1881
Added: Apr 8
Changed: Jul 29
Last Checked: Jul 30 at 8:06AM
MLS# 286696634
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 property is a fourplex with townhome-style layouts and open concept floorplans. Each unit includes full kitchen appliances, as well as a washer and dryer. Interior updates vary by unit and include items such as newer appliances, luxury vinyl plank flooring, carpet, interior paint, blinds, baseboards, hardware, and plumbing fixtures. Units 1 and 4 are configured with 2 bedrooms and 2.5 baths, while units 2 and 3 offer 3 bedrooms and 2.5 baths.
The fourplex is situated on an ideal corner lot in a quiet residential neighborhood with sidewalks and well cared-for homes. The property is positioned near schools, parks, and trails, with shopping and dining located less than 1.5 miles away. The address is 2531 NW CEDAR Ave, Redmond, OR 97756.
For investors, the property currently has three units leased, with Unit 4 available by appointment only and photos of Units 1–3 captured prior to tenant move-in. The asset is identified as a multifamily property under R4 zoning, and the HOA (where applicable) is described as being managed by the same management company for the past 15 years. The overall presentation is intended for buyers seeking a maintained, turnkey residential income asset with in-unit amenities and multiple unit configurations.
The fourplex is situated on an ideal corner lot in a quiet residential neighborhood with sidewalks and well cared-for homes. The property is positioned near schools, parks, and trails, with shopping and dining located less than 1.5 miles away. The address is 2531 NW CEDAR Ave, Redmond, OR 97756.
For investors, the property currently has three units leased, with Unit 4 available by appointment only and photos of Units 1–3 captured prior to tenant move-in. The asset is identified as a multifamily property under R4 zoning, and the HOA (where applicable) is described as being managed by the same management company for the past 15 years. The overall presentation is intended for buyers seeking a maintained, turnkey residential income asset with in-unit amenities and multiple unit configurations.
Key Highlights
- 4‑plex built in 2002 with townhome‑style units and open‑concept floorplans
- Unit sizes: Units 1 & 4 about 1,100 SF (2BR/2.5BA); Units 2 & 3 about 1,200 SF (3BR/2.5BA)
- Each unit includes full kitchen appliances plus in‑unit washer and dryer
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 | $104.7k | $21.60 |
| − Vacancy | −$7.6k | −$1.56 |
| EGI | $97.2k | $20.04 |
| − OpEx | −$29.1k | −$6.01 |
| NOI | $68.0k | $14.03 |
4,848 SF · lease $21.60/SF/yr · vacancy 7.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$971.6K
$850.1K – $1.13M
NOI $68,009 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$887.0K
$776.1K – $1.03M
NOI $62,087 @ 7.0% cap · market cap 5.40%
Theoretical Best
Retail
$1.67M
$1.46M – $1.95M
NOI $116,794 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained fourplex with townhome-style units, in-unit laundry, and kitchen appliances on a corner lot.
Where is this quadplex located?
The property is located at 2531 NW CEDAR Ave Redmond, OR.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: 4‑plex built in 2002 with townhome‑style units and open‑concept floorplans; Unit sizes: Units 1 & 4 about 1,100 SF (2BR/2.5BA); Units 2 & 3 about 1,200 SF (3BR/2.5BA); Each unit includes full kitchen appliances plus in‑unit washer and dryer
