Single-Level Triplex with Updated
New
For Sale
$615,000
7552 N GILBERT Ave, Portland, OR 97203
MultiFamily, Portland, OR
Property Size2,312 SF
Lot Size0.16 Acres
Price / SF$266
Days on Market3
Property Features for 7552 N GILBERT Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 3
View
City
Elementary school
Astor
Middle school
George
High school
Roosevelt
Directions
N. Lombard to N.Gilbert Ave
Subdivision
_141
Standard status
Active
APN
R227575
Size
2,312 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
NORTHERN HILL ADD, BLOCK 8, LOT 22-29 EXC R/W
Tax Annual Amount
6248
Legal Description
NORTHERN HILL ADD, BLOCK 8, LOT 22-29 EXC R/W
Utilities
Heating system
Baseboard
Amenities
washer/dryer
Building Details
Year built
1976
Floors in Building
1
Number of units
3
Roof type
Shingle
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Tim Hyun
(971) 330-0070
Added: Aug 20
Changed: Aug 22
Last Checked: Aug 22 at 5:06PM
MLS# 280445250
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 single-level triplex contains 2,312 square feet with five bedrooms and three full bathrooms. The two end residences are occupied, while the center unit is vacant and available for viewing. Unit layouts include two two-bedroom homes of approximately 848 square feet each and a one-bedroom residence of approximately 616 square feet.
Updated flooring and fresh interior paint appear throughout the units. The property was built in 1976 and has a shingle roof installed in 2019. The center unit also includes a new water heater and refrigerator, while a washer and dryer are included with the property. Baseboard heating serves the residences, and the lot measures 0.16 acres.
Located near North Lombard Street shopping, dining, and public transit in Portland’s St. Johns area, the property is zoned R5.
Updated flooring and fresh interior paint appear throughout the units. The property was built in 1976 and has a shingle roof installed in 2019. The center unit also includes a new water heater and refrigerator, while a washer and dryer are included with the property. Baseboard heating serves the residences, and the lot measures 0.16 acres.
Located near North Lombard Street shopping, dining, and public transit in Portland’s St. Johns area, the property is zoned R5.
Key Highlights
- 2,312 square feet with five bedrooms and three full baths
- Three‑unit configuration with two occupied end units and a vacant middle unit
- Two approximately 848‑square‑foot two‑bedroom units plus one approximately 616‑square‑foot one‑bedroom unit
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
$32,219
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
5.24%
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%
$644,380
$644.4K
Cap Rate 7%
$460,271
$460.3K
Cap Rate 9%
$357,989
$358.0K
Market Conditions
NOI Build-Up for 2,312 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
$48.6K $21.00/SF
− Vacancy
−$2.5K −$1.09/SF
EGI
$46.0K $19.91/SF
− OpEx
−$13.8K −$5.97/SF
NOI
$32.2K $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%
$644,380
Cap Rate 7%
$460,271
Cap Rate 9%
$357,989
Alternative Uses
Best Use
Multifamily LT 5
$460.3K
$402.7K – $537.0K
NOI $32,219 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$424.1K
$371.1K – $494.8K
NOI $29,686 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$649.3K
$568.1K – $757.5K
NOI $45,449 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Explore this area
Business Placement
Demographics for 97203, OR
33,763
Population
13,462
Households
2.5
Avg Household Size
34
Median Age
45%
College-Educated
90%
High-School Grad
10.8 sq mi
ZIP Area
3,126
Density / Sq Mi
$77,619
Median Household Income
$46,152
Median Earnings
$1,551
Median Rent
$468,600
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?
Triplex - Three residential units include a vacant center home and two occupied end units.
Where is this triplex located?
The property is located at 7552 N GILBERT Ave Portland, OR.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: 2,312 square feet with five bedrooms and three full baths; Three‑unit configuration with two occupied end units and a vacant middle unit; Two approximately 848‑square‑foot two‑bedroom units plus one approximately 616‑square‑foot one‑bedroom unit
