Two-Unit Duplex with Big
5331 5333 NE 28TH Ave Portland, OR 97211
For Sale
$685,000
MULTI_FAMILY - Portland, OR
Property Size2,244 SF
Price / SF$305.26
Days on Market58
Property Features for 5331 5333 NE 28TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2.5H
Bedrooms
4
Bathrooms
3
Rooms
Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Bathroom 3, Bedroom 3, Bathroom 1
Standard status
Active
APN
R186401
Size
2,244 SF
Taxes and HOA fees
Tax Description
INA PK, BLOCK 4, LOT 13
Tax Annual Amount
4244
Utilities
Heating system
Forced Air
Building Details
Year built
1909
Floors in Building
3
Number of units
2
Roof type
Composition
Listing Agency:
Windermere Realty Trust
(503) 284-7755
Listed By:
Aimee Virnig · License #200409137
(503) 803-7678
Added: Jun 3
Changed: Jul 29
Last Checked: Jul 30 at 5:06AM
MLS# 619679942
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 duplex property includes an upper and a lower unit, each with its own basement storage, laundry, and electrical service. The upper unit is a 2 bed, 2 bath layout with hardwood floors and bedroom separation described as two suites. The lower unit is a 2 bed, 1 bath with a larger kitchen that opens to the backyard, and also includes hardwood floors.
The property is sited on an alley, which the remarks note may provide off-street parking potential, and it offers a big yard. Reported updates include a roof completed in 2023, recent exterior paint in 2022 and interior paint in 2026, and updated windows for most of the home.
Heating is described as forced air gas for the lower unit and zonal electric heat for the upper unit. The address is 5331 5333 NE 28TH Ave, Portland, OR 97211, within R2.5H zoning.
The property is sited on an alley, which the remarks note may provide off-street parking potential, and it offers a big yard. Reported updates include a roof completed in 2023, recent exterior paint in 2022 and interior paint in 2026, and updated windows for most of the home.
Heating is described as forced air gas for the lower unit and zonal electric heat for the upper unit. The address is 5331 5333 NE 28TH Ave, Portland, OR 97211, within R2.5H zoning.
Key Highlights
- 2‑unit duplex built in 1909 with two separate basement storage areas, plus laundry and electrical for each unit
- Upper unit: 2 bed/2 bath with hardwood floors and zonal electric heat; layout features separation between the two bedrooms
- Lower unit: 2 bed/1 bath with hardwood floors and a larger kitchen that opens to the backyard; lower unit has forced air gas heat
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 | $47.1k | $21.00 |
| − Vacancy | −$2.5k | −$1.09 |
| EGI | $44.7k | $19.91 |
| − OpEx | −$13.4k | −$5.97 |
| NOI | $31.3k | $13.94 |
2,244 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$446.7K
$390.9K – $521.2K
NOI $31,271 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$411.6K
$360.2K – $480.2K
NOI $28,813 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$630.2K
$551.4K – $735.2K
NOI $44,112 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Duplex featuring two separate units with hardwood floors, laundry, basement storage, and a shared backyard.
Where is this duplex located?
The property is located at 5331 5333 NE 28TH Ave Portland, OR.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: 2‑unit duplex built in 1909 with two separate basement storage areas, plus laundry and electrical for each unit; Upper unit: 2 bed/2 bath with hardwood floors and zonal electric heat; layout features separation between the two bedrooms; Lower unit: 2 bed/1 bath with hardwood floors and a larger kitchen that opens to the backyard; lower unit has forced air gas heat
