Classic Craftsman in Albina
535 NE KNOTT St, Portland, OR 97212
New
MULTI_FAMILY - Portland, OR
Property size:
3,111 SFLot size:
0.12 AcresPrice / SF:
$189/SF- Added:
- May 29, 2026
- Days on Market:
- 2
- Last Refresh:
- May 30 at 1:06 pm
Property Features for 535 NE KNOTT St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RM1
- Bedrooms
- 5
- Bathrooms
- 4
- Rooms
- Bedroom 5, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 2, Bathroom 3, Bathroom 1, Bathroom 4
- Standard status
- Active
- APN
- R101915
- Size
- 3,111 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Description
- ALBINA, BLOCK 7, E 6' OF LOT 10, W 37' OF LOT 11
- Tax Annual Amount
- 2829
Utilities
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1910
- Floors in Building
- 3
- Number of units
- 3
- Roof type
- Composition
Listing agent Brian Tienken (503) 314-9661
Listing office eXp Realty, LLC 8835 SW Canyon Ln, Ste 237, Salem, OR (888) 814-9613
Listing date May 29, 2026
MLS# 652251763
Listing URL
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.
HighLights
- Prime location in Portland's historic Albina neighborhood with easy access to downtown, PDX Airport, major routes, restaurants, bars, shops, and amenities.
- Large 3,100+ sq ft Craftsman with original character and architectural details.
- New roof, sewer line, siding repairs, and fresh exterior paint provide a strong foundation.
- Potential for single‑family use or multi‑unit conversion with three electric meters and three hot water tanks (buyer to verify).
- Generous room sizes and hardwood floors offer remodeling inspiration.
- Classic 1910 Craftsman architecture.
Overview
This classic 1910 Craftsman, located in Portland's historic Albina neighborhood, offers over 3,100 square feet of space. The property retains its original character and is ready for renovation. Recent improvements include a new roof, new sewer line, siding repairs, and fresh exterior paint. Previously configured as three separate living spaces, the home features three electric meters and three hot water tanks, creating potential for single family use or multi-unit opportunities. The buyer is responsible for verifying all intended uses. The home is in need of updating and remodeling. Architectural details include hardwood floors and generous room sizes. The property is conveniently located with easy access to downtown Portland, PDX Airport, major commuting routes, and nearby restaurants, bars, shops, and neighborhood amenities. The lot size is 0.12 acres. The zoning is RM1. The property is being sold as is.
Local 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 | $65.3k | $21.00 |
| − Vacancy | −$3.4k | −$1.09 |
| EGI | $61.9k | $19.91 |
| − OpEx | −$18.6k | −$5.97 |
| NOI | $43.4k | $13.94 |
3,111 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$619.3K
$541.9K – $722.6K
NOI $43,354 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$570.6K
$499.3K – $665.8K
NOI $39,945 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$873.6K
$764.4K – $1.02M
NOI $61,155 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.659857
- Latitude
- 45.542285
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - 1910 Craftsman with renovation potential in historic Albina neighborhood.
Where is this triplex located?
The property is located at 535 NE KNOTT St Portland, OR.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Prime location in Portland's historic Albina neighborhood with easy access to downtown, PDX Airport, major routes, restaurants, bars, shops, and amenities.; Large 3,100+ sq ft Craftsman with original character and architectural details.; New roof, sewer line, siding repairs, and fresh exterior paint provide a strong foundation.
