Seven-Unit Multifamily
8451 SE FOSTER Rd Portland, OR 97266
For Sale
$1,175,000
MULTI_FAMILY - Portland, OR
Property Size5,225 SF
Lot Size0.20 Acres
Price / SF$224.88
Days on Market162
Property Features for 8451 SE FOSTER Rd
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- CM3
- Bedrooms
- 10
- Bathrooms
- 10
- Rooms
- Bathroom 2, Bathroom 1, Bathroom 10, Bathroom 9, Bathroom 7, Bedroom 7, Bathroom 4, Bedroom 8, Bedroom 4, Bedroom 3, Bedroom 5, Bedroom 10, Bedroom 2, Bathroom 3, Bathroom 6, Bedroom 1, Bedroom 6, Bedroom 9, Bathroom 8, Bathroom 5
- Standard status
- Active
- APN
- R159034
- Size
- 5,225 SF
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Description
- EVELYN, BLOCK 2, LOT 6&7
- Tax Annual Amount
- 8717
Utilities
- Heating system
- Baseboard
- Cooling system
- Wall Unit(s)
Building Details
- Year built
- 1975
- Floors in Building
- 2
- Number of units
- 7
- Roof type
- Composition
Listing Agency:
John L. Scott Portland Central
(503) 230-8600
Listed By:
Doug Landers · License #200903041
(503) 936-3905
Added: Feb 12
Changed: Jul 18
Last Checked: Jul 24 at 12:06AM
MLS# 212865825
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 well-maintained seven-unit multifamily property was originally built in 1973 and is currently configured with three 2-bedroom apartments and four 1-bedroom apartments. The property is offered for sale with a reported NOI of $9,137 per door and a stated cap rate of 5.44. With a total building size of 5,225 square feet on a 0.2-acre lot, it provides a straightforward unit mix for day-to-day operations.
Located at 8451 SE Foster Rd in Portland, Oregon (Multnomah County), the property is described as positioned along a major bus line, supporting convenient public transportation access to local shops, dining, and neighborhood amenities.
Located at 8451 SE Foster Rd in Portland, Oregon (Multnomah County), the property is described as positioned along a major bus line, supporting convenient public transportation access to local shops, dining, and neighborhood amenities.
Key Highlights
- 7‑unit multifamily property in Portland’s Lents neighborhood
- Unit mix includes four 1‑bedroom apartments and three 2‑bedroom apartments
- Cap rate of 5.44 and NOI of $9,137 per door
Financial Insights For Apartment 5plus
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 | $128.5k | $24.60 |
| − Vacancy | −$6.6k | −$1.25 |
| EGI | $122.0k | $23.35 |
| − OpEx | −$54.9k | −$10.51 |
| NOI | $67.1k | $12.84 |
5,225 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$958.4K
$838.6K – $1.12M
NOI $67,089 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,712 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Well-maintained 1973 building with three two-bedroom and four one-bedroom units in CM3 zoning.
Where is this apartment building located?
The property is located at 8451 SE FOSTER Rd Portland, OR.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: 7‑unit multifamily property in Portland’s Lents neighborhood; Unit mix includes four 1‑bedroom apartments and three 2‑bedroom apartments; Cap rate of 5.44 and NOI of $9,137 per door
