Portland Multifamily Investment
8451 SE FOSTER Rd, Portland, OR 97266
MULTI_FAMILY - Portland, OR
Property size:
5,225 SFLot size:
0.20 AcresPrice / SF:
$239/SF- Added:
- Feb 12, 2026
- Days on Market:
- 99
- Last Refresh:
- May 22 at 10:06 am
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 8, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 7, Bedroom 7, Bedroom 5, Bathroom 10, Bathroom 5, Bathroom 4, Bedroom 6, Bedroom 9, Bedroom 8, Bathroom 9, Bathroom 3, Bathroom 6, Bedroom 4, Bathroom 1, Bedroom 10, Bedroom 3
- 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 agent Doug Landers License #200903041 (503) 936-3905
Listing office John L. Scott Portland Central 1205 NE MLK Jr Blvd, Portland, OR (503) 230-8600
Listing date Feb 12, 2026
MLS# 212865825
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
- Solid financial performance with a 5.12 cap rate and $9,137 NOI per door.
- Well‑maintained 7‑unit multifamily property in the improving Lents neighborhood of Southeast Portland.
- Balanced unit mix of three 2‑bedroom and four 1‑bedroom apartments, appealing to a wide range of renters.
- Conveniently located along a major bus line, providing easy access to transportation, shops, and dining.
- Priced competitively at $1,250,000, offering a balance of cash flow and appreciation potential.
- Desirable and accessible location with neighborhood amenities.
Overview
Located in Southeast Portland's Lents neighborhood, this well-maintained 7-unit multifamily property presents a prime investment opportunity. Constructed in 1973, the property features a mix of three 2-bedroom apartments and four 1-bedroom apartments. Situated along a major bus line, the location provides residents with convenient access to public transportation, local shops, dining options, and neighborhood amenities. The property demonstrates solid financial performance, with a cap rate of 5.12 and a net operating income of $9,137 per door. The property is zoned CM3 and sits on a 0.2-acre lot.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$745.4K
NOI $67,089 @ 9.00% cap · cautious / downside scenario
Moderate
$958.4K
NOI $67,089 @ 7.00% cap · market / base-case scenario
Aggressive
$1.34M
NOI $67,089 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| 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 Use Scenarios
Best Use
Apartment 5plus
$958.4K
$838.6K – $1.12M
NOI $67,089 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,712 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.575685
- Latitude
- 45.482087
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Well-maintained 7-unit apartment building in Southeast Portland's Lents neighborhood.
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 $1,250,000.
What are key features of this property?
This property features: Solid financial performance with a **5.12 cap rate and $9,137 NOI per door.**; Well‑maintained 7‑unit multifamily property in the improving Lents neighborhood of Southeast Portland.; Balanced unit mix of three 2‑bedroom and four 1‑bedroom apartments, appealing to a wide range of renters.
