New 16-Unit Apartment
For Sale
$3,099,999
11 NE 55TH Ave, Portland, OR 97213
MULTI_FAMILY - Portland, OR
Property Size9,647 SF
Lot Size0.12 Acres
Price / SF$321.34
Days on Market363
Property Features for 11 NE 55TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
CM2
Bedrooms
7
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 5, Bathroom 4, Bathroom 1, Bathroom 6, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 7, Bathroom 8, Bathroom 7, Bedroom 4, Bathroom 5, Bedroom 3, Bedroom 1, Bedroom 6
Subdivision
NORTH TABOR
Elementary school
Glencoe
Middle school
Mt Tabor
High school
Franklin
Directions
55th, just north of Burnside in North Tabor proper.
Standard status
Active
APN
R216522
Size
9,647 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
MELROSE, S 50' OF E 107' OF LOT 13 EXC PT IN ST
Legal Description
MELROSE, S 50' OF E 107' OF LOT 13 EXC PT IN ST
Building Details
Year built
2025
Floors in Building
3
Number of units
16
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: Aug 5, 2025
Changed: Aug 2
Last Checked: Aug 2 at 11:06PM
MLS# 619792928
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.
Newly constructed 16-unit apartment building on a 0.12-acre lot (9,647 SF) with a planned year built of 2025. The property is currently under construction and designed for long-term residential use with secure entry and well-maintained common areas. Interiors and exterior are described as modern and contemporary, with a unit mix intended to support flexible leasing and strong occupancy.
Located at 11 NE 55TH Ave in Portland (97213, Multnomah County), the building is positioned for convenient neighborhood access referenced as North Tabor, with proximity to transit and local destinations. Public remarks note access to the MAX light rail, Providence Portland Medical Center, and nearby dining and shopping areas.
Zoned CM2, the property’s configuration and new-build status may appeal to multifamily operators seeking a low-maintenance, purpose-built asset within a close-in Eastside setting.
Located at 11 NE 55TH Ave in Portland (97213, Multnomah County), the building is positioned for convenient neighborhood access referenced as North Tabor, with proximity to transit and local destinations. Public remarks note access to the MAX light rail, Providence Portland Medical Center, and nearby dining and shopping areas.
Zoned CM2, the property’s configuration and new-build status may appeal to multifamily operators seeking a low-maintenance, purpose-built asset within a close-in Eastside setting.
Key Highlights
- 16‑unit apartment building under construction with a planned year built of 2025
- 0.12‑acre lot
- 9,647 SF building size
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 | $237.3k | $24.60 |
| − Vacancy | −$12.1k | −$1.25 |
| EGI | $225.2k | $23.35 |
| − OpEx | −$101.3k | −$10.51 |
| NOI | $123.9k | $12.84 |
9,647 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.77M
$1.55M – $2.06M
NOI $123,867 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.71M
$2.37M – $3.16M
NOI $189,638 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
2,388
Businesses Nearby
Explore this area
Business Placement
Demographics for 97213, OR
31,260
Population
14,971
Households
2.1
Avg Household Size
40
Median Age
61%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
7,815
Density / Sq Mi
$95,801
Median Household Income
$56,941
Median Earnings
$1,490
Median Rent
$609,100
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 - Newly constructed 16-unit apartment building in CM2 zoning, under construction and year built 2025.
Where is this apartment building located?
The property is located at 11 NE 55TH Ave Portland, OR.
What is the asking price?
The asking price for this property is $3,099,999.
What are key features of this property?
This property features: 16‑unit apartment building under construction with a planned year built of 2025; 0.12‑acre lot; 9,647 SF building size
