Corner-Lot Duplex with Flexible
For Sale
$599,995
3929 SE 70TH Ave, Portland, OR 97206
MultiFamily, Portland, OR
Property Size2,351 SF
Lot Size0.11 Acres
Price / SF$255.21
Days on Market24
Property Features for 3929 SE 70TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 1
Subdivision
FOSTER - POWELL
Elementary school
Arleta
Middle school
Kellogg
High school
Franklin
Directions
On the corner of SE 70th and SE Center St
Standard status
Active
APN
R253767
Size
2,351 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
RESERVOIR PK, BLOCK 5, E 60' OF LOT 15&16
Tax Annual Amount
5885
Legal Description
RESERVOIR PK, BLOCK 5, E 60' OF LOT 15&16
Utilities
Heating system
Zoned, Forced Air
Building Details
Year built
1906
Floors in Building
3
Number of units
2
Roof type
Composition
Listing Agency:
Premiere Property Group, LLC
(503) 670-9000
Listed By:
John McKay · License #201207149
(503) 702-5529
Added: Aug 26
Changed: Sep 18
Last Checked: Sep 18 at 6:06AM
MLS# 107490662
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 2,351-square-foot duplex sits on a 0.11-acre corner lot and was built in 1906. The property is currently arranged as two units and is recorded as a triplex, with a floor plan spanning five bedrooms and three bathrooms. The lower level has its own entrance, kitchenette, range, refrigerator, and one legal bedroom, along with a second non-conforming bedroom. The main level provides a kitchen, bedroom, dining room, utility room, and living area. Two additional bedrooms, flexible upper-level space, and a finished attic complete the layout.
Recent interior improvements include fresh paint and new carpeting. The composition roof is scheduled for replacement before closing, while the sale is otherwise offered as-is. Heating includes zoned and forced-air systems. The property is located in Foster-Powell near Kern Park, shops, restaurants, and neighborhood amenities, with a reported 100 Bike Score.
Recent interior improvements include fresh paint and new carpeting. The composition roof is scheduled for replacement before closing, while the sale is otherwise offered as-is. Heating includes zoned and forced-air systems. The property is located in Foster-Powell near Kern Park, shops, restaurants, and neighborhood amenities, with a reported 100 Bike Score.
Key Highlights
- 2,351 SF duplex on a 0.11‑acre corner lot
- Currently configured as a duplex and recorded as a triplex
- Five bedrooms, with a possible sixth non‑conforming bedroom
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
$34,525
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
5.75%
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%
$690,500
$690.5K
Cap Rate 7%
$493,214
$493.2K
Cap Rate 9%
$383,611
$383.6K
Market Conditions
NOI Build-Up for 2,351 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
$52.2K $22.20/SF
− Vacancy
−$2.9K −$1.22/SF
EGI
$49.3K $20.98/SF
− OpEx
−$14.8K −$6.29/SF
NOI
$34.5K $14.69/SF
Area
ZIP 97206
Vacancy
5.50%
Lease Rate
$22.20 /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%
$690,500
Cap Rate 7%
$493,214
Cap Rate 9%
$383,611
Alternative Uses
Best Use
Multifamily LT 5
$493.2K
$431.6K – $575.4K
NOI $34,525 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$442.2K
$387.0K – $515.9K
NOI $30,956 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$660.2K
$577.7K – $770.3K
NOI $46,215 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
964
Businesses Nearby
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Business Placement
Demographics for 97206, OR
51,072
Population
22,348
Households
2.3
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
7,857
Density / Sq Mi
$94,233
Median Household Income
$54,254
Median Earnings
$1,693
Median Rent
$480,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - R5-zoned property includes a separate lower-level entrance and kitchenette.
Where is this duplex located?
The property is located at 3929 SE 70TH Ave Portland, OR.
What is the asking price?
The asking price for this property is $599,995.
What are key features of this property?
This property features: 2,351 SF duplex on a 0.11‑acre corner lot; Currently configured as a duplex and recorded as a triplex; Five bedrooms, with a possible sixth non‑conforming bedroom
