Restored Duplex with Permitted
For Sale
$1,200,000
6164 SW CAPITOL Hwy, Portland, OR 97239
MultiFamily, Portland, OR
Property Size3,467 SF
Lot Size0.94 Acres
Price / SF$346.12
Days on Market140
Property Features for 6164 SW CAPITOL Hwy
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R7
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 3, Bathroom 2
Elementary school
Rieke
Middle school
Robert Gray
High school
Ida B Wells
Directions
Capitol Highway between Terwilliger and Hillsdale shops
Subdivision
_148
Standard status
Active
APN
R124228
Size
3,467 SF
Lot size
0.94 Acres
Taxes and HOA fees
Tax Description
BURLINGAME SUB, BLOCK 51, SUB LOT A-C OF LOT 3, SUB LOT A OF LOT
Tax Annual Amount
8889
Legal Description
BURLINGAME SUB, BLOCK 51, SUB LOT A-C OF LOT 3, SUB LOT A OF LOT
Utilities
Heating system
Forced Air
Amenities
fireplaces
sunroom
deck
outdoor kitchen
sauna
curated landscaping
outbuildings
Building Details
Year built
1932
Floors in Building
3
Number of units
2
Roof type
Composition, Rubber
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Jaimy Beltran · License #200711180
(503) 502-3330
Added: May 1
Changed: Sep 17
Last Checked: Sep 17 at 7:06PM
MLS# 252532862
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 restored 1932 English Tudor duplex offers 3,467 square feet across three levels, with four bedrooms and four bathrooms. Original mahogany trim, built-ins, hardwood floors, fireplaces, and a sunroom are complemented by updated lighting and finishes. The kitchen includes granite countertops, gas appliances, an island, and a pantry. A permitted attached ADU completed in 2021 adds reclaimed wood cabinetry, concrete countertops, copper accents, hardwood flooring, and separate heating and cooling. The primary suite includes a soaking tub, walk-in shower, dual sinks, and deck access.
Exterior improvements include refreshed stucco with cedar and copper details, an updated deck with an outdoor kitchen and sauna, curated landscaping, RV and boat parking, and multiple outbuildings. Two additional lots bring the combined land area to 0.94 acres and include a seasonal creek. The property is near OHSU and downtown Portland and is zoned R7.
Exterior improvements include refreshed stucco with cedar and copper details, an updated deck with an outdoor kitchen and sauna, curated landscaping, RV and boat parking, and multiple outbuildings. Two additional lots bring the combined land area to 0.94 acres and include a seasonal creek. The property is near OHSU and downtown Portland and is zoned R7.
Key Highlights
- Restored 1932 English Tudor duplex with 3,467 square feet
- Permitted attached ADU completed in 2021
- Four bedrooms and four bathrooms across three levels
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
$48,315
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
4.03%
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%
$966,300
$966.3K
Cap Rate 7%
$690,214
$690.2K
Cap Rate 9%
$536,833
$536.8K
Market Conditions
NOI Build-Up for 3,467 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
$72.8K $21.00/SF
− Vacancy
−$3.8K −$1.09/SF
EGI
$69.0K $19.91/SF
− OpEx
−$20.7K −$5.97/SF
NOI
$48.3K $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%
$966,300
Cap Rate 7%
$690,214
Cap Rate 9%
$536,833
Alternative Uses
Best Use
Multifamily LT 5
$690.2K
$603.9K – $805.3K
NOI $48,315 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$635.9K
$556.5K – $741.9K
NOI $44,516 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$973.6K
$851.9K – $1.14M
NOI $68,153 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
Explore this area
Business Placement
Demographics for 97239, OR
18,323
Population
9,963
Households
1.8
Avg Household Size
39
Median Age
74%
College-Educated
99%
High-School Grad
3.6 sq mi
ZIP Area
5,090
Density / Sq Mi
$108,795
Median Household Income
$67,384
Median Earnings
$1,749
Median Rent
$713,100
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Historic character, modern upgrades, and a permitted 2021 attached ADU support flexible use.
Where is this duplex located?
The property is located at 6164 SW CAPITOL Hwy Portland, OR.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Restored 1932 English Tudor duplex with 3,467 square feet; Permitted attached ADU completed in 2021; Four bedrooms and four bathrooms across three levels
