Quadplex With Private
For Sale
$934,900
3216 SW 11TH Ave, Portland, OR 97239
MultiFamily, Portland, OR
Property Size3,330 SF
Lot Size0.12 Acres
Price / SF$280.75
Days on Market92
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 4, Bedroom 2, Bedroom 6, Bathroom 4, Bathroom 3, Bedroom 3, Bedroom 5, Bedroom 1, Bathroom 1, 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: Sep 17
Last Checked: Sep 17 at 10:06PM
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 3,330-square-foot quadplex was built in 1974 and includes four residential units. One unit is vacant, while the remaining three are occupied, providing flexibility for an owner-occupant or continued rental operation. Each unit has assigned off-street parking, and the property also includes a private deck, east-facing views, and a composition roof.
The property is located at 3216 SW 11th Ave in Portland’s 97239 ZIP code, within a short walk of OHSU. Its setting on a quiet no-through street provides a residential environment near the medical campus. RM3 zoning supports the property’s multifamily classification.
The property is located at 3216 SW 11th Ave in Portland’s 97239 ZIP code, within a short walk of OHSU. Its setting on a quiet no-through street provides a residential environment near the medical campus. RM3 zoning supports the property’s multifamily classification.
Key Highlights
- Four‑unit property with 3,330 square feet of building area
- One unit vacant; three units occupied
- RM3 zoning
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
$46,406
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
4.96%
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%
$928,120
$928.1K
Cap Rate 7%
$662,943
$662.9K
Cap Rate 9%
$515,622
$515.6K
Market Conditions
NOI Build-Up for 3,330 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
$69.9K $21.00/SF
− Vacancy
−$3.6K −$1.09/SF
EGI
$66.3K $19.91/SF
− OpEx
−$19.9K −$5.97/SF
NOI
$46.4K $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%
$928,120
Cap Rate 7%
$662,943
Cap Rate 9%
$515,622
Alternative Uses
Best Use
Multifamily LT 5
$662.9K
$580.1K – $773.4K
NOI $46,406 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$610.8K
$534.5K – $712.6K
NOI $42,757 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$935.1K
$818.3K – $1.09M
NOI $65,460 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
75%
Occupancy
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - RM3-zoned quadplex offers assigned parking and a private outdoor deck.
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 $934,900.
What are key features of this property?
This property features: Four‑unit property with 3,330 square feet of building area; One unit vacant; three units occupied; RM3 zoning
