Dutch Colonial Fourplex with
For Sale
$669,000
3424 SE 10TH Ave, Portland, OR 97202
MULTI_FAMILY - Portland, OR
Property Size2,201 SF
Lot Size0.09 Acres
Price / SF$303.95
Days on Market24
Property Features for 3424 SE 10TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2.5
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bathroom 4, Bedroom 2, Bedroom 4, Bathroom 3, Bedroom 3
Subdivision
BROOKLYN
Elementary school
Grout
Middle school
Hosford
High school
Cleveland
Directions
SE Milwaukee To SE Haig To SE 10th
Standard status
Active
APN
R228600
Size
2,201 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
OAK KNOLL ANX ADD, BLOCK 2, LOT 1
Tax Annual Amount
8892
Legal Description
OAK KNOLL ANX ADD, BLOCK 2, LOT 1
Utilities
Heating system
Forced Air
Building Details
Year built
1909
Floors in Building
3
Number of units
4
Roof type
Composition
Listing Agency:
LUXE Forbes Global Properties
(503) 389-2112
Listed By:
Steve Odermann · License #201209382
(971) 275-5657
Added: Jul 7
Changed: Jul 28
Last Checked: Jul 30 at 12:06PM
MLS# 423472845
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 well-maintained Dutch Colonial-style fourplex features period-appropriate details throughout. The unit mix consists of two spacious 2-bedroom, 1-bath apartments and two efficient studio, 1-bath apartments. An unfinished basement includes laundry hookups and additional storage space, providing flexibility for tenant needs and operational convenience. The property is listed as 2,201 square feet on a 0.09-acre lot, with zoning noted as R2.5.
Located at 3424 SE 10TH Ave in SE Portland’s Brooklyn neighborhood, the home is described as being just one block from Brooklyn Park. Walk Score of 89 and Bike Score of 93 are provided, supporting easy access to nearby shops, restaurants, and neighborhood amenities. Buyer to verify all information and conduct their own due diligence.
For buyers seeking a small multifamily rental, the combination of unit sizes can appeal to a range of households, from tenants looking for a full 2-bedroom layout to those preferring a more efficient studio configuration. The unfinished basement with laundry hookups may also help streamline in-unit convenience versus shared arrangements. Offers are subject to interior inspection, and no showings are available without coordinated inspection, with tenants instructed not to be disturbed. The seller also notes a history of low vacancy rates and long-term ownership.
Located at 3424 SE 10TH Ave in SE Portland’s Brooklyn neighborhood, the home is described as being just one block from Brooklyn Park. Walk Score of 89 and Bike Score of 93 are provided, supporting easy access to nearby shops, restaurants, and neighborhood amenities. Buyer to verify all information and conduct their own due diligence.
For buyers seeking a small multifamily rental, the combination of unit sizes can appeal to a range of households, from tenants looking for a full 2-bedroom layout to those preferring a more efficient studio configuration. The unfinished basement with laundry hookups may also help streamline in-unit convenience versus shared arrangements. Offers are subject to interior inspection, and no showings are available without coordinated inspection, with tenants instructed not to be disturbed. The seller also notes a history of low vacancy rates and long-term ownership.
Key Highlights
- Well‑maintained Dutch Colonial‑style fourplex built in 1909 with composition roof and forced air heating
- Unit mix: two 2 bed/1 bath apartments plus two studio/1 bath apartments
- Unfinished basement with laundry hookups and ample storage potential
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 | $48.9k | $22.20 |
| − Vacancy | −$3.2k | −$1.44 |
| EGI | $45.7k | $20.76 |
| − OpEx | −$13.7k | −$6.23 |
| NOI | $32.0k | $14.53 |
2,201 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$456.9K
$399.8K – $533.0K
NOI $31,980 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$424.2K
$371.2K – $494.9K
NOI $29,694 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$525.1K
$459.5K – $612.6K
NOI $36,757 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,556
Businesses Nearby
Explore this area
Business Placement
Demographics for 97202, OR
43,193
Population
20,097
Households
2.1
Avg Household Size
38
Median Age
65%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
6,856
Density / Sq Mi
$100,353
Median Household Income
$52,090
Median Earnings
$1,674
Median Rent
$684,800
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 - Fourplex offering two 2-bedroom units and two studios, plus an unfinished basement with laundry hookups and storage.
Where is this quadplex located?
The property is located at 3424 SE 10TH Ave Portland, OR.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Well‑maintained Dutch Colonial‑style fourplex built in 1909 with composition roof and forced air heating; Unit mix: two 2 bed/1 bath apartments plus two studio/1 bath apartments; Unfinished basement with laundry hookups and ample storage potential
