Attached Quadplex Under
For Sale
$1,599,900
2892 NE 61st Ave, Portland, OR 97213
MULTI_FAMILY - Portland, OR
Property Size4,178 SF
Lot Size0.11 Acres
Price / SF$382.93
Days on Market196
Property Features for 2892 NE 61st Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R2.5
Bedrooms
5
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 1, Bathroom 5, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 2, Bathroom 4, Bedroom 5, Bathroom 6
Subdivision
ROSE CITY PARK
Elementary school
Rose City Park
Middle school
Roseway Heights
High school
Leodis McDaniel
Directions
NE Stanton To NE Sandy
Standard status
Active
APN
New Construction
Size
4,178 SF
Lot size
0.11 Acres
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Amenities
private outdoor space
energy efficient mini splits
upstairs laundry
high ceilings
vaulted ceilings
open great room living
illuminated crown molding
architectural built ins
designer accent walls
Building Details
Year built
2026
Floors in Building
2
Number of units
4
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: Jan 28
Changed: Aug 12
Last Checked: Aug 12 at 11:06AM
MLS# 653353170
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.
Under construction in 2026, this attached quadplex offers modern, low-maintenance residential income potential on a 0.11-acre lot. The property totals approximately 4,178 square feet and features a townhouse-style layout with high ceilings, an open great room on the main level, upstairs laundry, and vaulted ceilings in the bedrooms.
The unit mix includes two end units with 3 bedrooms and 2.5 bathrooms, each approximately 1,177 square feet, and two interior units with 2 bedrooms and 2.5 bathrooms, each approximately 912 square feet. All four residences include private outdoor space, and the end units benefit from larger private yards.
Heating and cooling are provided by energy-efficient mini splits, and the roof is composition. The property is located in Portland’s Rose City Park neighborhood near NE Sandy Blvd and throughout the Hollywood District, with shops, restaurants, parks, and transit nearby.
The unit mix includes two end units with 3 bedrooms and 2.5 bathrooms, each approximately 1,177 square feet, and two interior units with 2 bedrooms and 2.5 bathrooms, each approximately 912 square feet. All four residences include private outdoor space, and the end units benefit from larger private yards.
Heating and cooling are provided by energy-efficient mini splits, and the roof is composition. The property is located in Portland’s Rose City Park neighborhood near NE Sandy Blvd and throughout the Hollywood District, with shops, restaurants, parks, and transit nearby.
Key Highlights
- Attached quadplex under construction for 2026 on a 0.11‑acre lot
- Total building area approximately 4,178 SF with two end and two interior units
- Two end units: three bed, 2.5 bath, approximately 1,177 SF each
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
$58,223
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
3.64%
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%
$1,164,460
$1.2M
Cap Rate 7%
$831,757
$831.8K
Cap Rate 9%
$646,922
$646.9K
Market Conditions
NOI Build-Up for 4,178 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
$87.7K $21.00/SF
− Vacancy
−$4.6K −$1.09/SF
EGI
$83.2K $19.91/SF
− OpEx
−$25.0K −$5.97/SF
NOI
$58.2K $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%
$1,164,460
Cap Rate 7%
$831,757
Cap Rate 9%
$646,922
Alternative Uses
Best Use
Multifamily LT 5
$831.8K
$727.8K – $970.4K
NOI $58,223 @ 7.0% cap · market cap 3.64%
Second Best
Apartment 5plus
$766.4K
$670.6K – $894.1K
NOI $53,645 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,130 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
736
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Zoned R2.5, under construction 2026-attached quadplex with heat pump HVAC and private outdoor space.
Where is this quadplex located?
The property is located at 2892 NE 61st Ave Portland, OR.
What is the asking price?
The asking price for this property is $1,599,900.
What are key features of this property?
This property features: Attached quadplex under construction for 2026 on a 0.11‑acre lot; Total building area approximately 4,178 SF with two end and two interior units; Two end units: three bed, 2.5 bath, approximately 1,177 SF each
