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    Turnkey Investment in Cathedral Park Title is generated by Realmo AI

    8320 N PRINCETON St, Portland, OR 97203

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    Claim this Listing
    For Sale
    $1,095,000

    MULTI_FAMILY - Portland, OR

    Property size:
    4,324 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $253/SF
    Added:
    Mar 20, 2026
    Days on Market:
    78
    Last Refresh:
    Jun 5 at 1:06 am

    Property Features for 8320 N PRINCETON St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RM2
    Bedrooms
    8
    Bathrooms
    4
    Rooms
    Bedroom 7, Bathroom 1, Bedroom 5, Bedroom 1, Bathroom 4, Bedroom 8, Bedroom 6, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 3
    Standard status
    Active
    APN
    R658489
    Size
    4,324 SF
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Tax Description
    JAMES JOHNS 2ND ADD, BLOCK 23, LOT 7
    Tax Annual Amount
    16454

    Utilities

    Heating system
    Forced Air
    Cooling system
    Wall Unit(s)

    Building Details

    Year built
    2014
    Floors in Building
    2
    Number of units
    4
    Roof type
    Composition

    We can help!

    Listing Contact
    Jeff Edmondson

    Listing agent Jeff Edmondson

    Listing office 24/7 Properties 2051 Willamette Falls Dr, West Linn, OR

    Listing date Mar 20, 2026

    MLS# 607818350 Listing URL

    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.

    HighLights

    • Fourplex built in 2014 with all four units currently occupied for immediate cash flow
    • Each unit is a 2‑bedroom, 1‑bath layout with its own private entrance and abundant natural light
    • In‑unit washer and dryer plus stainless steel appliances and maple cabinetry in each unit
    • Heating: forced air; cooling: wall unit(s); PTAC heating and cooling systems; roof is composition
    • Security and convenience include alarm monitoring system, covered/lockable trash and recycling storage, and an outdoor bike rack
    • Two upper‑level units have a secure private entryway; professionally managed by a local property management company

    Overview

    This well-maintained fourplex, constructed in 2014, is located in Portland's Cathedral Park neighborhood, near the St. Johns Bridge and the waterfront. The property features four units, each with 2 bedrooms and 1 bathroom, a private entrance, and natural light. Interiors include laminate hardwood-style flooring, maple cabinetry, stainless steel appliances, in-unit washer and dryer, a living room ceiling fan, and PTAC heating and cooling systems. The property provides a covered, lockable trash and recycling storage area, a secure private entryway for the two upper-level units, an installed alarm monitoring system and an outdoor bike rack for tenant use. The property is professionally managed. The building's location provides access to shopping, parks, amenities, and public transportation. The lot size is 0.12 acres and the property size is 4324 square feet. The property is zoned RM2.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $90.8k $21.00
    − Vacancy −$4.7k −$1.09
    EGI $86.1k $19.91
    − OpEx −$25.8k −$5.97
    NOI $60.3k $13.94
    4,324 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $860.8K
    $753.2K – $1.00M (±1% cap)
    NOI $60,258 @ 7.0% cap · market cap 5.50%
    Second Best
    Apartment 5plus
    $793.1K
    $694.0K – $925.3K (±1% cap)
    NOI $55,520 @ 7.0% cap · market cap 5.07%
    Theoretical Best
    Office A
    $1.21M
    $1.06M – $1.42M (±1% cap)
    NOI $85,000 @ 7.0% cap · market cap 7.76%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.75348
    Latitude
    45.587288

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    FAQs

    What type of property is this?
    Quadplex - Well-maintained fourplex in Portland's desirable Cathedral Park neighborhood.
    Where is this quadplex located?
    The property is located at 8320 N PRINCETON St Portland, OR.
    What is the asking price?
    The asking price for this property is $1,095,000.
    What are key features of this property?
    This property features: Fourplex built in 2014 with all four units currently occupied for immediate cash flow; Each unit is a 2‑bedroom, 1‑bath layout with its own private entrance and abundant natural light; In‑unit washer and dryer plus stainless steel appliances and maple cabinetry in each unit
    (503) 780-3030
    We can help!
    Listing Contact
    Jeff Edmondson
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    8320 N PRINCETON St, Portland, OR 97203
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