Park-Front Quadplex in
For Sale
$1,649,900
6214 N Kerby Ave, Portland, OR 97217
MULTI_FAMILY - Portland, OR
Property Size3,936 SF
Lot Size0.11 Acres
Price / SF$419.18
Days on Market55
Property Features for 6214 N Kerby Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R5
Bedrooms
5
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 6, Bathroom 4, Bedroom 4, Bathroom 1, Bathroom 2, Bathroom 5, Bedroom 3, Bedroom 1, Bedroom 5, Bedroom 2, Bathroom 3
Subdivision
PIEDMONT
View
Park
Elementary school
Chief Joseph
Middle school
Ockley Green
High school
Jefferson
Directions
From N Rosa Parks Way, south on N Kerby Ave to property. Use 6216 N Kerby Ave, Portland on GPS.
Standard status
Active
APN
New Construction
Size
3,936 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
LONGWOOD, BLOCK 1, LOT 13
Legal Description
LONGWOOD, BLOCK 1, LOT 13
Utilities
Cooling system
Heat Pump
Building Details
Year built
2026
Floors in Building
2
Number of units
4
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: Jun 19
Changed: Aug 12
Last Checked: Aug 12 at 12:06PM
MLS# 542848396
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.
Newly constructed quadplex under construction (2026) featuring four completed residences with efficient layouts and private outdoor space. The two front units are 3 bedrooms, 2.5 bathrooms, and the two rear units are 2 bedrooms, 2.5 bathrooms. Each home offers a great room style main level with tall ceilings, solid surface countertops, stainless steel appliances, extensive custom cabinetry, and energy efficient mini splits for year round heating and cooling, plus a convenient half bathroom. Upstairs, vaulted ceilings add natural light, and laundry is positioned between the bedrooms. Front homes include exceptionally large yards, while the rear homes feature fenced outdoor spaces and off-street parking. The property is on a 0.11-acre lot with approximately 3,936 square feet, and has a composition roof with heat pump cooling.
Set directly across from Peninsula Park, a historic Piedmont landmark with emerald lawns and year-round recreation, including a community center and bandstand, playground, picnic lawns, splash pad, heated outdoor pool, sports courts, fields, paved paths, and green space. The park’s rose garden sits below street level, with approximately 5,000 rose plants representing about 60 varieties.
Zoned R5, this quadplex is positioned for investors, owner occupants, or multigenerational living in North Portland near nearby Mississippi, Williams, Killingsworth, Interstate, and Piedmont amenities.
Set directly across from Peninsula Park, a historic Piedmont landmark with emerald lawns and year-round recreation, including a community center and bandstand, playground, picnic lawns, splash pad, heated outdoor pool, sports courts, fields, paved paths, and green space. The park’s rose garden sits below street level, with approximately 5,000 rose plants representing about 60 varieties.
Zoned R5, this quadplex is positioned for investors, owner occupants, or multigenerational living in North Portland near nearby Mississippi, Williams, Killingsworth, Interstate, and Piedmont amenities.
Key Highlights
- Four residences in a newly constructed quadplex under construction (2026) with private outdoor space
- Two front 3BR/2.5BA units and two rear 2BR/2.5BA units with great room main levels
- Mini split heating and cooling plus energy efficient design elements throughout the residences
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
$54,851
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
3.32%
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%
$1,097,020
$1.1M
Cap Rate 7%
$783,586
$783.6K
Cap Rate 9%
$609,456
$609.5K
Market Conditions
NOI Build-Up for 3,936 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
$82.7K $21.00/SF
− Vacancy
−$4.3K −$1.09/SF
EGI
$78.4K $19.91/SF
− OpEx
−$23.5K −$5.97/SF
NOI
$54.9K $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%
$1,097,020
Cap Rate 7%
$783,586
Cap Rate 9%
$609,456
Alternative Uses
Best Use
Multifamily LT 5
$783.6K
$685.6K – $914.2K
NOI $54,851 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$722.0K
$631.7K – $842.3K
NOI $50,538 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$1.11M
$967.2K – $1.29M
NOI $77,373 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,343
Businesses Nearby
Explore this area
Business Placement
Demographics for 97217, OR
36,086
Population
17,038
Households
2.1
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
11.1 sq mi
ZIP Area
3,251
Density / Sq Mi
$100,387
Median Household Income
$56,790
Median Earnings
$1,789
Median Rent
$569,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Newly constructed park-front quadplex with four residences, R5 zoning, private outdoor space, and off-street parking.
Where is this quadplex located?
The property is located at 6214 N Kerby Ave Portland, OR.
What is the asking price?
The asking price for this property is $1,649,900.
What are key features of this property?
This property features: Four residences in a newly constructed quadplex under construction (2026) with private outdoor space; Two front 3BR/2.5BA units and two rear 2BR/2.5BA units with great room main levels; Mini split heating and cooling plus energy efficient design elements throughout the residences
