Updated Single-Level
For Sale
$775,000
5821 SE KNAPP St, Portland, OR 97206
MultiFamily, Portland, OR
Property Size2,000 SF
Lot Size0.15 Acres
Price / SF$387.50
Days on Market174
Property Features for 5821 SE KNAPP St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Bedroom 2
Subdivision
BRENTWOOD - DARLINGTON
Elementary school
Whitman
Middle school
Lane
High school
Franklin
Directions
Flavel to 60th left on Knapp
Standard status
Active
APN
R118330
Size
2,000 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
BONITA PK, BLOCK 3, E 65' OF LOT 6
Tax Annual Amount
7523
Legal Description
BONITA PK, BLOCK 3, E 65' OF LOT 6
Amenities
private fenced backyard
Building Details
Year built
1942
Floors in Building
1
Number of units
4
Roof type
Shingle
Listing Agency:
Keller Williams PDX Central · Keller Williams Realty
(503) 548-4848
Listed By:
Alexander Johnson
(503) 333-9626
Added: Mar 19
Changed: Sep 4
Last Checked: Sep 8 at 4:06PM
MLS# 262127970
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 4-plex contains 2,000 square feet in a single-level layout built in 1942. The units have been updated with quartz countertops, LVP flooring, and stainless steel appliances. Each residence includes a private fenced backyard, while multiple off-street parking spaces serve the property. The 0.15-acre site is zoned R5.
The property is located on SE KNAPP St in Portland’s 97206 ZIP code, with Brentwood Park and Brentwood Community Garden nearby. Its one-story configuration, unit-specific outdoor space, and refreshed finishes provide a straightforward multifamily setup.
The property is located on SE KNAPP St in Portland’s 97206 ZIP code, with Brentwood Park and Brentwood Community Garden nearby. Its one-story configuration, unit-specific outdoor space, and refreshed finishes provide a straightforward multifamily setup.
Key Highlights
- 4‑plex with 2,000 square feet on a 0.15‑acre site
- Single‑level layout built in 1942
- Quartz countertops, LVP flooring, and stainless steel appliances
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
$29,371
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
3.79%
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%
$587,420
$587.4K
Cap Rate 7%
$419,586
$419.6K
Cap Rate 9%
$326,344
$326.3K
Market Conditions
NOI Build-Up for 2,000 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
$44.4K $22.20/SF
− Vacancy
−$2.4K −$1.22/SF
EGI
$42.0K $20.98/SF
− OpEx
−$12.6K −$6.29/SF
NOI
$29.4K $14.69/SF
Area
ZIP 97206
Vacancy
5.50%
Lease Rate
$22.20 /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%
$587,420
Cap Rate 7%
$419,586
Cap Rate 9%
$326,344
Alternative Uses
Best Use
Multifamily LT 5
$419.6K
$367.1K – $489.5K
NOI $29,371 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$376.2K
$329.2K – $438.9K
NOI $26,334 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$561.6K
$491.4K – $655.3K
NOI $39,315 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Explore this area
Business Placement
Demographics for 97206, OR
51,072
Population
22,348
Households
2.3
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
7,857
Density / Sq Mi
$94,233
Median Household Income
$54,254
Median Earnings
$1,693
Median Rent
$480,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four units feature refreshed interiors, private fenced yards, and multiple off-street parking spaces.
Where is this quadplex located?
The property is located at 5821 SE KNAPP St Portland, OR.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 4‑plex with 2,000 square feet on a 0.15‑acre site; Single‑level layout built in 1942; Quartz countertops, LVP flooring, and stainless steel appliances
