16-Unit Apartment
For Sale
$3,225,000
4775 NE 107TH Ave, Portland, OR 97220
MultiFamily, Portland, OR
Property Size10,480 SF
Lot Size0.11 Acres
Price / SF$307.73
Days on Market193
Property Features for 4775 NE 107TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 3, Bathroom 1
Subdivision
Parkrose
Middle school
Roseway Heights
High school
Parkrose
Directions
South on NE 107th Ave from NE Sandy
Standard status
Active
APN
R703341
Size
10,480 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
PARKROSE & RPLT, BLOCK 6, LOT 16 EXC PT IN ST
Tax Annual Amount
28958
Legal Description
PARKROSE & RPLT, BLOCK 6, LOT 16 EXC PT IN ST
Amenities
in unit washer/dryers
Building Details
Year built
2024
Floors in Building
4
Number of units
16
Roof type
Composition
Listing Agency:
Knipe Realty ERA Powered
(503) 445-7660
Listed By:
Daniel Silvey · License #201209834
(503) 201-8537
Added: Mar 9
Changed: Sep 17
Last Checked: Sep 17 at 2:06PM
MLS# 752828656
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.
Completed in 2024, this 16-unit apartment property contains 10480 square feet on a 0.11-acre parcel in Portland’s Parkrose neighborhood. The building includes contemporary apartment interiors, quality fixtures, high-end kitchens, and laundry appliances within the units. A composition roof and established occupancy are also reported.
The property is positioned near NE Sandy Blvd, grocery shopping, airport access, and transit. RM2 zoning supports its multifamily classification. The unit layout includes bedrooms and bathrooms across the apartments, with a mix of configurations described as supporting varied renter needs.
The property is positioned near NE Sandy Blvd, grocery shopping, airport access, and transit. RM2 zoning supports its multifamily classification. The unit layout includes bedrooms and bathrooms across the apartments, with a mix of configurations described as supporting varied renter needs.
Key Highlights
- 16‑unit apartment building completed in 2024
- 10480 square feet on a 0.11‑acre parcel
- RM2 zoning in Portland’s Parkrose neighborhood
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
$134,563
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
4.17%
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%
$2,691,260
$2.7M
Cap Rate 7%
$1,922,329
$1.9M
Cap Rate 9%
$1,495,144
$1.5M
Market Conditions
NOI Build-Up for 10,480 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
$257.8K $24.60/SF
− Vacancy
−$13.1K −$1.25/SF
EGI
$244.7K $23.35/SF
− OpEx
−$110.1K −$10.51/SF
NOI
$134.6K $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%
$2,691,260
Cap Rate 7%
$1,922,329
Cap Rate 9%
$1,495,144
Alternative Uses
Best Use
Apartment 5plus
$1.92M
$1.68M – $2.24M
NOI $134,563 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.94M
$2.58M – $3.43M
NOI $206,013 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
759
Businesses Nearby
Explore this area
Business Placement
Demographics for 97220, OR
29,357
Population
12,177
Households
2.4
Avg Household Size
39
Median Age
35%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
3,914
Density / Sq Mi
$68,976
Median Household Income
$41,696
Median Earnings
$1,412
Median Rent
$427,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Recently built multifamily property with RM2 zoning and in-unit laundry.
Where is this apartment building located?
The property is located at 4775 NE 107TH Ave Portland, OR.
What is the asking price?
The asking price for this property is $3,225,000.
What are key features of this property?
This property features: 16‑unit apartment building completed in 2024; 10480 square feet on a 0.11‑acre parcel; RM2 zoning in Portland’s Parkrose neighborhood
