Multifamily Apartment
For Sale
$1,300,000
5203 NE 16TH Ave, Portland, OR 97211
MULTI_FAMILY - Portland, OR
Property Size4,864 SF
Lot Size0.12 Acres
Price / SF$267.27
Days on Market145
Property Features for 5203 NE 16TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2.5
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 4
Elementary school
Vernon
Middle school
Vernon
High school
Jefferson
Directions
East on Killingsworth from I-5, South on 16th Ave to property at 16th and Sumner
Subdivision
_142
Standard status
Active
APN
R295093
Size
4,864 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
VERNON, BLOCK 20, ELY 2.95' OF LOT 8, LOT 9
Tax Annual Amount
6243
Legal Description
VERNON, BLOCK 20, ELY 2.95' OF LOT 8, LOT 9
Utilities
Heating system
Forced Air
Building Details
Year built
1926
Floors in Building
2
Number of units
7
Roof type
Composition
Listing Agency:
Living Room Realty
(503) 719-5588
Listed By:
Devin Arthurs · License #201208016
(971) 300-8337
Added: Mar 11
Changed: Aug 1
Last Checked: Aug 2 at 6:06PM
MLS# 219033570
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 classic apartment building offers a total of seven units, including six studios and one three-bedroom unit. The property has been professionally maintained and managed by the same owners for the last few decades. Heating is forced air, and the roof is composition. The building was constructed in 1926.
All units are currently occupied. Recent updates include new exterior paint in 2025, updated PEX water lines, newer water heaters, flooring and counter updates, and newer gas furnaces for each unit. The property is situated on a 0.12-acre lot in Northeast Portland and is zoned R2.5.
For tenants and buyers seeking an owner-occupied or investment multifamily setup, the unit mix provides both studio and three-bedroom options within one building, with upgrades focused on the building’s mechanical systems and interior finishes.
All units are currently occupied. Recent updates include new exterior paint in 2025, updated PEX water lines, newer water heaters, flooring and counter updates, and newer gas furnaces for each unit. The property is situated on a 0.12-acre lot in Northeast Portland and is zoned R2.5.
For tenants and buyers seeking an owner-occupied or investment multifamily setup, the unit mix provides both studio and three-bedroom options within one building, with upgrades focused on the building’s mechanical systems and interior finishes.
Key Highlights
- Six studio units plus one three‑bedroom unit in a seven‑unit apartment building
- All units are currently occupied
- Recent updates include new exterior paint (2025), updated PEX water lines, newer water heaters, flooring and counter updates, and newer gas furnaces for each unit
Financial Insights For Apartment 5plus
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 | $119.7k | $24.60 |
| − Vacancy | −$6.1k | −$1.25 |
| EGI | $113.6k | $23.35 |
| − OpEx | −$51.1k | −$10.51 |
| NOI | $62.5k | $12.84 |
4,864 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$892.2K
$780.7K – $1.04M
NOI $62,454 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.59M
NOI $95,615 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,128
Businesses Nearby
Explore this area
Business Placement
Demographics for 97211, OR
33,762
Population
15,106
Households
2.2
Avg Household Size
38
Median Age
56%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,755
Density / Sq Mi
$109,604
Median Household Income
$59,171
Median Earnings
$1,818
Median Rent
$616,800
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?
Apartment building - R2.5 zoned apartment building with six studios and one three-bedroom unit, all currently occupied.
Where is this apartment building located?
The property is located at 5203 NE 16TH Ave Portland, OR.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Six studio units plus one three‑bedroom unit in a seven‑unit apartment building; All units are currently occupied; Recent updates include new exterior paint (2025), updated PEX water lines, newer water heaters, flooring and counter updates, and newer gas furnaces for each unit
