5-Unit Townhouse Apartment
For Sale
$1,999,900
11080 Southwest 61st Avenue, Portland, OR 97219
Vacant townhouse-style residences feature private entries, outdoor decks, modern kitchens, and individually metered utilities.
Property Size5,307 SF
Price / SF$376.84
Days on Market195
Property Features for 11080 Southwest 61st Avenue
General Information
Standard status
Active
Size
5,307 SF
Property subtype
Multi Family
Zoning
RM1
Units
Unit Mix
3 x 3BR/2.5BA, 2 x 2BR/2.5BA
Multifamily Units
5
Additional Details
Highway Access
Yes
Amenities
fenced deck space
upper level laundry
custom cabinetry
solid surface countertops
stainless steel appliances
kitchen islands with eat bars
energy efficient mini split systems
private entries
outdoor decks
2
Crawl Space
Concrete Perimeter, Stem Wall
Composition
Cement Siding, Lap Siding, Panel
Building Details
Year Built
2026
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 709-4632
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Source:
Compass
Added: Feb 16
Changed: Aug 30
Last Checked: Aug 30 at 5:17AM
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 Keller Williams Realty Portland Premiere
Investment Insights
Based on property information with market context.
Completed in 2026, this RM1-zoned apartment property includes five townhouse-style residences arranged within a condominium structure. The unit mix comprises three three-bedroom homes and two two-bedroom homes, with each residence offering two and a half bathrooms, separated living and sleeping areas, a main-level half bath, upper-level laundry, and a fenced deck. Private entries distinguish the layout from stacked apartment configurations.
Interior finishes include custom cabinetry, solid surface countertops, stainless steel appliances, kitchen islands with eat bars, and mini-split systems for heating and cooling. Primary suites include private bathrooms, while the three-bedroom floor plans provide additional room for flexible household use. All homes are currently vacant, and each unit is individually metered.
The property is 0.5 miles from Barbur Blvd, 0.7 miles from Gabriel Park, 1.2 miles from I-5, and 1.5 miles from Multnomah Village. The address is 11080 Southwest 61st Avenue, Portland, OR 97219.
Interior finishes include custom cabinetry, solid surface countertops, stainless steel appliances, kitchen islands with eat bars, and mini-split systems for heating and cooling. Primary suites include private bathrooms, while the three-bedroom floor plans provide additional room for flexible household use. All homes are currently vacant, and each unit is individually metered.
The property is 0.5 miles from Barbur Blvd, 0.7 miles from Gabriel Park, 1.2 miles from I-5, and 1.5 miles from Multnomah Village. The address is 11080 Southwest 61st Avenue, Portland, OR 97219.
Key Highlights
- Five townhouse‑style apartment homes in an RM1‑zoned condominium structure
- Unit mix includes three 3 bedroom residences and two 2 bedroom residences
- Each home includes two and a half bathrooms, upper‑level laundry, and a fenced deck
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$68,666
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,373,320
$1.4M
Cap Rate 7%
$980,943
$980.9K
Cap Rate 9%
$762,956
$763.0K
Market Conditions
NOI Build-Up for 5,307 SF
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.
Gross rent
$133.1K $25.08/SF
− Vacancy
−$8.3K −$1.55/SF
EGI
$124.8K $23.53/SF
− OpEx
−$56.2K −$10.59/SF
NOI
$68.7K $12.94/SF
Area
ZIP 97219
Vacancy
6.20%
Lease Rate
$25.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,373,320
Cap Rate 7%
$980,943
Cap Rate 9%
$762,956
Alternative Uses
Best Use
Apartment 5plus
$980.9K
$858.3K – $1.14M
NOI $68,666 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,324 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Explore this area
Business Placement
Demographics for 97219, OR
42,474
Population
18,881
Households
2.2
Avg Household Size
40
Median Age
66%
College-Educated
98%
High-School Grad
11.7 sq mi
ZIP Area
3,630
Density / Sq Mi
$115,525
Median Household Income
$59,178
Median Earnings
$1,603
Median Rent
$651,600
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 - Vacant townhouse-style residences feature private entries, outdoor decks, modern kitchens, and individually metered utilities.
Where is this apartment building located?
The property is located at 11080 Southwest 61st Avenue Portland, OR.
What is the asking price?
The asking price for this property is $1,999,900.
What are key features of this property?
This property features: Five townhouse‑style apartment homes in an RM1‑zoned condominium structure; Unit mix includes three 3 bedroom residences and two 2 bedroom residences; Each home includes two and a half bathrooms, upper‑level laundry, and a fenced deck
