Corner-Lot Duplex with Separate
For Sale
$1,188,000
11510 SW 61ST Ave, Portland, OR 97219
MultiFamily, Portland, OR
Property Size3,579 SF
Lot Size0.23 Acres
Price / SF$331.94
Days on Market207
Property Features for 11510 SW 61ST Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R10
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Bedroom 5, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 4, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 6, Bathroom 5
Subdivision
PASADENA
View
Territorial
Elementary school
Markham
Middle school
Jackson
High school
Ida B Wells
Directions
99W to SW 60th right onto Capitol Hwy.
Standard status
Active
APN
R240782
Size
3,579 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
PASADENA, BLOCK 11, LOT 30-32 TL 4100
Tax Annual Amount
14738
Legal Description
PASADENA, BLOCK 11, LOT 30-32 TL 4100
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
private decks
granite kitchen counters
tile floors
maple cabinetry
great room
tree-canopy views
double firewall
separate street frontage
second entry
home office/live-work setup
under-house storage
Building Details
Year built
2003
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
MORE Realty
(503) 353-6673
Listed By:
Dita Razzouk · License #201206810
(503) 267-1404
Added: Feb 22
Changed: Sep 17
Last Checked: Sep 17 at 6:06PM
MLS# 773732051
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.
This 2003 duplex contains two independent residences totaling 3579 square feet on a 0.23-acre corner lot. The homes are separated by a double firewall and each has its own street frontage, address, private decks, and attached 2-car garage. The residence at 11450 SW Capitol Hwy offers a 3- or 4-bedroom configuration, 2.5 bathrooms, 9 ft ceilings, tile flooring, maple cabinetry, granite kitchen counters, and an additional entry suited to office use. The second home at 11510 SW 61st Ave includes 3 bedrooms, 2 bathrooms, 9 ft ceilings, tile floors, maple cabinetry, and tile bathroom counters.
Both residences include forced-air heating, central air, composition roofs, and wooded outlooks. The property is zoned R10 and includes additional under-house storage space at 11450 SW Capitol Hwy. Separate layouts and entrances support occupancy arrangements that incorporate one home and an independent second residence.
Both residences include forced-air heating, central air, composition roofs, and wooded outlooks. The property is zoned R10 and includes additional under-house storage space at 11450 SW Capitol Hwy. Separate layouts and entrances support occupancy arrangements that incorporate one home and an independent second residence.
Key Highlights
- Two residences totaling 3579 square feet on a 0.23‑acre corner lot
- Double firewall, separate addresses, and independent street frontage
- 11450 SW Capitol Hwy unit offers 3 or 4 bedrooms and 2.5 bathrooms
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
$52,559
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
4.42%
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%
$1,051,180
$1.1M
Cap Rate 7%
$750,843
$750.8K
Cap Rate 9%
$583,989
$584.0K
Market Conditions
NOI Build-Up for 3,579 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
$79.5K $22.20/SF
− Vacancy
−$4.4K −$1.22/SF
EGI
$75.1K $20.98/SF
− OpEx
−$22.5K −$6.29/SF
NOI
$52.6K $14.69/SF
Area
ZIP 97219
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,051,180
Cap Rate 7%
$750,843
Cap Rate 9%
$583,989
Alternative Uses
Best Use
Multifamily LT 5
$750.8K
$657.0K – $876.0K
NOI $52,559 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$661.5K
$578.9K – $771.8K
NOI $46,308 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$1.01M
$879.4K – $1.17M
NOI $70,355 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
503
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
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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?
Duplex - Two independent residences feature private outdoor spaces, attached garages, and flexible layouts in a wooded SW Portland setting.
Where is this duplex located?
The property is located at 11510 SW 61ST Ave Portland, OR.
What is the asking price?
The asking price for this property is $1,188,000.
What are key features of this property?
This property features: Two residences totaling 3579 square feet on a 0.23‑acre corner lot; Double firewall, separate addresses, and independent street frontage; 11450 SW Capitol Hwy unit offers 3 or 4 bedrooms and 2.5 bathrooms
