Detached Multifamily Homes with Private
For Sale
$2,309,900
4328 NE Going St, Portland, OR 97218
MULTI_FAMILY - Portland, OR
Property Size5,500 SF
Lot Size0.22 Acres
Price / SF$419.98
Days on Market394
Property Features for 4328 NE Going St
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R7
Bedrooms
8
Bathrooms
9
Full bathrooms
9
Rooms
Bedroom 1, Bathroom 3, Bathroom 7, Bedroom 2, Bedroom 3, Bedroom 6, Bathroom 4, Bathroom 2, Bathroom 6, Bathroom 1, Bathroom 5, Bathroom 9, Bedroom 8, Bathroom 8, Bedroom 7, Bedroom 5, Bedroom 4
Subdivision
Cully
Elementary school
Vernon
Middle school
Vernon
High school
Jefferson
Directions
Just east of NE 42nd Ave on Going St, near Wilshire Park. Use 4380 NE Going St on GPS for mapping.
Standard status
Active
APN
New Construction
Size
5,500 SF
Lot size
0.22 Acres
Utilities
Cooling system
Heat Pump
Amenities
open-concept great room
soaring ceilings
large picture windows
stainless steel appliances
solid surface countertops
custom cabinetry
tile backsplash
designer lighting
modern hardware
upper-level laundry
energy efficient mini-splits
private fenced outdoor yard space
Building Details
Year built
2025
Floors in Building
2
Number of units
6
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: Jul 15, 2025
Changed: Aug 12
Last Checked: Aug 12 at 4:06PM
MLS# 352703554
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 six-home portfolio comprises newly constructed, fully detached homes in a cottage-style community. The mix includes four two-bedroom, two-and-one-half-bath homes of approximately 835 square feet and two three-bedroom, two-and-one-half-bath homes of approximately 1,080 square feet. Each home is designed around an open-concept great room with soaring ceilings, large picture windows, and modern kitchen finishes including stainless steel appliances, solid surface countertops, custom cabinetry, and a tile backsplash. Interiors also include designer lighting and modern hardware, with upper-level laundry. Heating and cooling are provided via energy-efficient mini-splits, supported by a heat pump system. Each home includes private, fenced outdoor yard space, and four of the six homes include a dedicated off-street parking space. The community is under construction, with a 2025 build year and a composition roof. The site totals 0.22 acres and is zoned R7.
The homes are located in Northeast Portland near Wilshire Park and close to Beaumont-Wilshire. The offering also lists proximity to Beaumont Village and the Hollywood District, along with neighborhood cafes, restaurants, shops, and transit access.
The homes are located in Northeast Portland near Wilshire Park and close to Beaumont-Wilshire. The offering also lists proximity to Beaumont Village and the Hollywood District, along with neighborhood cafes, restaurants, shops, and transit access.
Key Highlights
- Six detached cottage‑style homes, under construction (2025)
- Four 2‑bedroom, 2.1‑bath homes (~835 SF) plus two 3‑bedroom, 2.1‑bath homes (~1,080 SF)
- Private fenced outdoor yard space with each home
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
$70,620
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
3.06%
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%
$1,412,400
$1.4M
Cap Rate 7%
$1,008,857
$1.0M
Cap Rate 9%
$784,667
$784.7K
Market Conditions
NOI Build-Up for 5,500 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
$135.3K $24.60/SF
− Vacancy
−$6.9K −$1.25/SF
EGI
$128.4K $23.35/SF
− OpEx
−$57.8K −$10.51/SF
NOI
$70.6K $12.84/SF
Area
Portland, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$1,412,400
Cap Rate 7%
$1,008,857
Cap Rate 9%
$784,667
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$882.8K – $1.18M
NOI $70,620 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,118 @ 7.0% cap · market cap 4.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
653
Businesses Nearby
Explore this area
Business Placement
Demographics for 97218, OR
14,748
Population
6,440
Households
2.3
Avg Household Size
38
Median Age
51%
College-Educated
91%
High-School Grad
6.7 sq mi
ZIP Area
2,201
Density / Sq Mi
$81,367
Median Household Income
$45,830
Median Earnings
$1,440
Median Rent
$493,300
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?
Apartment building - Six newly constructed detached homes in zoning R7, each with private fenced yard space and energy-efficient mini-splits.
Where is this apartment building located?
The property is located at 4328 NE Going St Portland, OR.
What is the asking price?
The asking price for this property is $2,309,900.
What are key features of this property?
This property features: Six detached cottage‑style homes, under construction (2025); Four 2‑bedroom, 2.1‑bath homes (~835 SF) plus two 3‑bedroom, 2.1‑bath homes (~1,080 SF); Private fenced outdoor yard space with each home
