Six-Unit Apartment Building with In-Unit
For Sale
$2,000,000
8300 SE Flavel St, Portland, OR 97266
MULTI_FAMILY - Portland, OR
Property Size6,070 SF
Lot Size0.29 Acres
Price / SF$329.49
Days on Market96
Property Features for 8300 SE Flavel St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 4
Subdivision
LENTS
Elementary school
Kelly
Middle school
Lane
High school
Franklin
Directions
SE 82nd Ave, East on Flavel, Property on the right
Standard status
Active
APN
R145996
Size
6,070 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Description
D & O LITTLE HMS SUB 2, LOT 24 TL 1200
Tax Annual Amount
19885
Legal Description
D & O LITTLE HMS SUB 2, LOT 24 TL 1200
Amenities
in-unit washer and dryer
Building Details
Year built
2020
Floors in Building
2
Number of units
6
Roof type
Composition
Listing Agency:
Rarebird Real Estate
(503) 451-0545
Listed By:
Benjamin Ficker · License #200412166,OR
(971) 273-5547
Added: Jun 1
Changed: Aug 13
Last Checked: Sep 4 at 2:06AM
MLS# 244619036
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 six-unit apartment community features spacious two-bedroom, one-bathroom homes. The property totals approximately 6,014 rentable square feet within a 6,070-square-foot building, with an average unit size of approximately 1,002 square feet. Each apartment includes an in-unit washer and dryer for added resident convenience. The building is topped with a composition roof, and the property provides seven off-street parking spaces.
Set on a 12,524-square-foot lot (0.29 acres), the site is described as a low-density layout in Portland’s Lents neighborhood. The area offers proximity to Lents Town Center, Lents Park, and the Springwater Corridor Trail, with access to major transportation corridors including Interstate 205 and public transit for regional connectivity.
Zoned RM1, this is a newer-construction multifamily property built in 2019, positioned for tenants who prioritize larger floor plans and in-home laundry.
Set on a 12,524-square-foot lot (0.29 acres), the site is described as a low-density layout in Portland’s Lents neighborhood. The area offers proximity to Lents Town Center, Lents Park, and the Springwater Corridor Trail, with access to major transportation corridors including Interstate 205 and public transit for regional connectivity.
Zoned RM1, this is a newer-construction multifamily property built in 2019, positioned for tenants who prioritize larger floor plans and in-home laundry.
Key Highlights
- Six two‑bedroom, one‑bathroom apartments totaling approximately 6,014 rentable square feet
- In‑unit washers and dryers in every apartment
- Approximately 1,002 average unit size
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
$77,939
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
3.90%
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%
$1,558,780
$1.6M
Cap Rate 7%
$1,113,414
$1.1M
Cap Rate 9%
$865,989
$866.0K
Market Conditions
NOI Build-Up for 6,070 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
$149.3K $24.60/SF
− Vacancy
−$7.6K −$1.25/SF
EGI
$141.7K $23.35/SF
− OpEx
−$63.8K −$10.51/SF
NOI
$77.9K $12.84/SF
Area
Portland, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$1,558,780
Cap Rate 7%
$1,113,414
Cap Rate 9%
$865,989
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$974.2K – $1.30M
NOI $77,939 @ 7.0% cap · market cap 3.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,322 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
582
Businesses Nearby
Explore this area
Business Placement
Demographics for 97266, OR
36,095
Population
13,863
Households
2.6
Avg Household Size
37
Median Age
29%
College-Educated
85%
High-School Grad
6.1 sq mi
ZIP Area
5,917
Density / Sq Mi
$71,791
Median Household Income
$39,856
Median Earnings
$1,532
Median Rent
$420,800
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?
Apartment building - Six two-bedroom apartments in an RM1-zoned building with in-unit washers and dryers and off-street parking.
Where is this apartment building located?
The property is located at 8300 SE Flavel St Portland, OR.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Six two‑bedroom, one‑bathroom apartments totaling approximately 6,014 rentable square feet; In‑unit washers and dryers in every apartment; Approximately 1,002 average unit size
