Updated Triplex with
For Sale
$725,000
5620 NE KILLINGSWORTH St, Portland, OR 97218
MultiFamily, Portland, OR
Property Size2,953 SF
Lot Size0.30 Acres
Price / SF$245.51
Days on Market70
Property Features for 5620 NE KILLINGSWORTH St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM1
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 4, Bedroom 2, Bedroom 6, Bathroom 6, Bathroom 4, Bathroom 3, Bedroom 7, Bedroom 8, Bedroom 3, Bedroom 5, Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 5
Elementary school
Rigler
Middle school
Roseway Heights
High school
Leodis McDaniel
Directions
Killingsworth between 55th and 57th
Subdivision
_142
Standard status
Active
APN
R317924
Size
2,953 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Description
SECTION 19 1N 2E, TL 200 0.30 ACRES
Tax Annual Amount
10450
Legal Description
SECTION 19 1N 2E, TL 200 0.30 ACRES
Utilities
Heating system
Baseboard
Amenities
private front porch
back patio
fireplace
storage
shared on-site laundry
spacious backyard
Building Details
Year built
1985
Floors in Building
2
Number of units
3
Roof type
Composition
Listing Agency:
Real Broker
(855) 450-0442
Listed By:
Marc Zemp · License #201203833
(503) 501-6925
Added: Jul 10
Changed: Sep 17
Last Checked: Sep 17 at 4:06PM
MLS# 542056464
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 updated triplex contains 2,953 square feet across three occupied units. Two apartments offer three bedrooms each, while the third provides two bedrooms. Unit features include private front porches, rear patios, fireplaces, and individual storage. Shared laundry serves the property, and baseboard heating is installed throughout.
Set on 0.30 acres in Portland’s Cully area, the property sits back from NE Killingsworth Street and includes a spacious backyard with nine parking spaces. Improvements include a newer composition roof, refinished kitchen cabinets, and updated toilets. Built in 1985, the property offers an established multifamily configuration with a mix of two- and three-bedroom residences.
Set on 0.30 acres in Portland’s Cully area, the property sits back from NE Killingsworth Street and includes a spacious backyard with nine parking spaces. Improvements include a newer composition roof, refinished kitchen cabinets, and updated toilets. Built in 1985, the property offers an established multifamily configuration with a mix of two- and three-bedroom residences.
Key Highlights
- Three‑unit property totaling 2,953 square feet
- Unit mix includes two three‑bedroom apartments and one two‑bedroom apartment
- All units are currently occupied
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
$41,152
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
5.68%
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%
$823,040
$823.0K
Cap Rate 7%
$587,886
$587.9K
Cap Rate 9%
$457,244
$457.2K
Market Conditions
NOI Build-Up for 2,953 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
$62.0K $21.00/SF
− Vacancy
−$3.2K −$1.09/SF
EGI
$58.8K $19.91/SF
− OpEx
−$17.6K −$5.97/SF
NOI
$41.2K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
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%
$823,040
Cap Rate 7%
$587,886
Cap Rate 9%
$457,244
Alternative Uses
Best Use
Multifamily LT 5
$587.9K
$514.4K – $685.9K
NOI $41,152 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$541.7K
$474.0K – $631.9K
NOI $37,916 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$829.3K
$725.6K – $967.5K
NOI $58,049 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
515
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Occupied three-unit property with varied layouts, private outdoor areas, fireplaces, storage, and shared laundry.
Where is this triplex located?
The property is located at 5620 NE KILLINGSWORTH St Portland, OR.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Three‑unit property totaling 2,953 square feet; Unit mix includes two three‑bedroom apartments and one two‑bedroom apartment; All units are currently occupied
