Updated Multifamily
For Sale
$419,000
1014 SE 9TH ST, Gresham, OR 97080
Three-bedroom townhome with an attached garage, fenced backyard, and an established tenant in place.
Property Size1,688 SF
Days on Market72
Property Features for 1014 SE 9TH ST
General Information
Standard status
Active
Size
1,688 SF
Property subtype
MULTI_FAMILY
Units
Unit Mix
1 x 3BR/2.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,661
Amenities
fully fenced back yard
Building Details
Building Size
1,688 SF
Year Built
2009
Tenancy
Single
Listing Agency:
Premiere Property Group, LLC
Listed By:
Gordon Vavrek · License #201211002
(503) 804-1246
Source:
Eleeterealestate
Added: Jul 28
Changed: Sep 29
Last Checked: Oct 5 at 11:04PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Premiere Property Group, LLC
Investment Insights
Based on property information with market context.
This 2009-built multifamily townhome offers three bedrooms and two-and-a-half baths in a recently refreshed configuration. Improvements include a new roof, new exterior paint, an updated kitchen, and new flooring throughout the home. An attached garage and fully fenced backyard add practical features to the property.
The townhome is occupied by a long-term tenant. Located in Gresham near SE 9th Street, the property provides access to town and major area freeways. The neighboring 1016 SE 9th property is attached and separately listed.
The townhome is occupied by a long-term tenant. Located in Gresham near SE 9th Street, the property provides access to town and major area freeways. The neighboring 1016 SE 9th property is attached and separately listed.
Key Highlights
- Three‑bedroom, 2.5‑bath multifamily townhome
- Built in 2009 with a new roof and new exterior paint
- Updated kitchen and flooring throughout the home
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,149
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,980
$403.0K
Cap Rate 7%
$287,843
$287.8K
Cap Rate 9%
$223,878
$223.9K
Market Conditions
NOI Build-Up for 1,688 SF
Gross rent
$38.1K $22.56/SF
− Vacancy
−$1.4K −$0.86/SF
EGI
$36.6K $21.70/SF
− OpEx
−$16.5K −$9.77/SF
NOI
$20.1K $11.94/SF
Area
Gresham, OR
Vacancy
3.80%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,980
Cap Rate 7%
$287,843
Cap Rate 9%
$223,878
Alternative Uses
Best Use
Apartment 5plus
$287.8K
$251.9K – $335.8K
NOI $20,149 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$385.7K
$337.5K – $450.0K
NOI $27,001 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Explore this area
Business Placement
Demographics for 97080, OR
45,647
Population
17,276
Households
2.6
Avg Household Size
38
Median Age
28%
College-Educated
90%
High-School Grad
21.6 sq mi
ZIP Area
2,113
Density / Sq Mi
$96,218
Median Household Income
$47,562
Median Earnings
$1,596
Median Rent
$485,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Three-bedroom townhome with an attached garage, fenced backyard, and an established tenant in place.
Where is this multifamily property located?
The property is located at 1014 SE 9TH ST Gresham, OR.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Three‑bedroom, 2.5‑bath multifamily townhome; Built in 2009 with a new roof and new exterior paint; Updated kitchen and flooring throughout the home
