Four-Plex Residential Income
For Sale
$949,900
3216 SW 11TH Ave, Portland, OR 97239
MULTI_FAMILY - Portland, OR
Property Size3,330 SF
Lot Size0.12 Acres
Price / SF$285.26
Days on Market46
Property Features for 3216 SW 11TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM3
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bathroom 4, Bedroom 5, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 3, Bathroom 2
Subdivision
HOMESTEAD/MARQUAM HILL
View
City, Territorial
Elementary school
Ainsworth
Middle school
West Sylvan
High school
Lincoln
Directions
SW Gibbs, turn North on SW 11th
Standard status
Active
APN
R247301
Size
3,330 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
PORTLAND CITY HMSTD, BLOCK 81, LOT 7
Tax Annual Amount
13581
Legal Description
PORTLAND CITY HMSTD, BLOCK 81, LOT 7
Amenities
east-facing views
private deck
Building Details
Year built
1974
Floors in Building
3
Number of units
4
Roof type
Composition
Listing Agency:
MORE Realty
(503) 353-6673
Listed By:
Jeff Stephens · License #201237728
(503) 869-7303
Added: Jun 18
Changed: Aug 2
Last Checked: Aug 2 at 6:06PM
MLS# 670746688
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 four-plex residential income property was built in 1974 and is offered in well-maintained condition. The building includes four units, with one unit currently vacant, while the remaining three units are occupied. The property also features assigned off-street parking for each unit, composition roofing, and a private deck.
The site sits on a quiet, no-through street and is located within a short walk to OHSU. The property is positioned with east-facing views, adding a residential feel for occupants.
The interior room mix includes multiple bedrooms and bathrooms across the units, supporting a variety of household needs while maintaining the building’s straightforward four-unit configuration.
The site sits on a quiet, no-through street and is located within a short walk to OHSU. The property is positioned with east-facing views, adding a residential feel for occupants.
The interior room mix includes multiple bedrooms and bathrooms across the units, supporting a variety of household needs while maintaining the building’s straightforward four-unit configuration.
Key Highlights
- Four‑plex residential income property built in 1974
- RM3 zoning
- Assigned off‑street parking for each unit
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 | $69.9k | $21.00 |
| − Vacancy | −$3.6k | −$1.09 |
| EGI | $66.3k | $19.91 |
| − OpEx | −$19.9k | −$5.97 |
| NOI | $46.4k | $13.94 |
3,330 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$662.9K
$580.1K – $773.4K
NOI $46,406 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$610.8K
$534.5K – $712.6K
NOI $42,757 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$935.1K
$818.3K – $1.09M
NOI $65,460 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,448
Businesses Nearby
Explore this area
Business Placement
Demographics for 97239, OR
18,323
Population
9,963
Households
1.8
Avg Household Size
39
Median Age
74%
College-Educated
99%
High-School Grad
3.6 sq mi
ZIP Area
5,090
Density / Sq Mi
$108,795
Median Household Income
$67,384
Median Earnings
$1,749
Median Rent
$713,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four-plex in RM3 zoning with assigned off-street parking and one currently vacant unit.
Where is this quadplex located?
The property is located at 3216 SW 11TH Ave Portland, OR.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Four‑plex residential income property built in 1974; RM3 zoning; Assigned off‑street parking for each unit
