16-Unit Apartment
For Sale
$3,049,900
11 NE 55TH Ave, Portland, OR 97213
MultiFamily, Portland, OR
Property Size9,647 SF
Lot Size0.12 Acres
Price / SF$316.15
Days on Market455
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 7, Bedroom 1, Bedroom 5, Bedroom 4, Bedroom 6, Bathroom 2, Bathroom 3, Bathroom 8, Bathroom 5, Bathroom 6, Bedroom 3, Bathroom 1, Bathroom 4, Bathroom 7, Bedroom 2
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
Buildings
1
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: Aug 5, 2025
Changed: Nov 1
Last Checked: Nov 2 at 3:06PM
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.
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Investment Insights
Based on property information with market context.
This apartment property is under construction and is scheduled for completion in 2025. The building contains 16 residential units within approximately 9,647 square feet on a 0.12-acre site. Planned physical features include contemporary interior finishes, a modern exterior, secured entry, and common areas.
The property is located at 11 NE 55TH Ave in Portland’s North Tabor neighborhood. The surrounding context includes access to MAX light rail, Providence Portland Medical Center, Tabor Bread, Coquine, and the Montavilla dining and shopping area. The site is identified with CM2 zoning.
The property is located at 11 NE 55TH Ave in Portland’s North Tabor neighborhood. The surrounding context includes access to MAX light rail, Providence Portland Medical Center, Tabor Bread, Coquine, and the Montavilla dining and shopping area. The site is identified with CM2 zoning.
Key Highlights
- 16‑unit apartment building under construction
- 9,647 square feet on a 0.12‑acre site
- 2025 year built
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$123,867
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,477,340
$2.5M
Cap Rate 7%
$1,769,529
$1.8M
Cap Rate 9%
$1,376,300
$1.4M
Market Conditions
NOI Build-Up for 9,647 SF
Gross rent
$237.3K $24.60/SF
− Vacancy
−$12.1K −$1.25/SF
EGI
$225.2K $23.35/SF
− OpEx
−$101.3K −$10.51/SF
NOI
$123.9K $12.84/SF
Area
Portland, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,477,340
Cap Rate 7%
$1,769,529
Cap Rate 9%
$1,376,300
Alternative Uses
Best Use
Apartment 5plus
$1.77M
$1.55M – $2.06M
NOI $123,867 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.71M
$2.37M – $3.16M
NOI $189,638 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
2,453
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The property includes contemporary interior finishes, secure entry, and maintained common areas.
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 $3,049,900.
What are key features of this property?
This property features: 16‑unit apartment building under construction; 9,647 square feet on a 0.12‑acre site; 2025 year built
