East Portland Apartment
For Sale
$3,290,000
14455 E Burnside St, Portland, OR 97233
25-unit apartment complex in East Portland with convenient access.
Property Size20,000 SF
Price / SF$164.50
Days on Market253
Property Features for 14455 E Burnside St
General Information
Standard status
Active
Size
20,000 SF
Property subtype
Multifamily
Building Details
Building Size
20,000 SF
Year Built
1994
Listed By:
Elliot Rask
(503) 726-6701
Source:
Capacitycommercial
Added: Jan 26
Changed: Sep 8
Last Checked: Oct 5 at 4:32PM
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 Elliot Rask
Investment Insights
Based on property information with market context.
Glenfair Apartments is a 25-unit apartment complex situated in East Portland. The property is located on E Burnside St near SE Division St and I-205, centrally located with easy access to Downtown and the numerous amenities in the area. It is ideally situated just a short walk away from the vibrant shopping and dining attractions on E Burnside Street and conveniently located 1.5 miles from SE Division Street, where you’ll find a plethora of amenities. The property is also within a block of a Portland MAX stop, offering convenient transportation to various parts of the inner urban area. With the proximity of Hwy 26, I-205, and I-84, tenants will enjoy easy access to Downtown Portland. The property has desirable unit floor plans and parking and high-quality property management in place. The property size is 20000 square feet.
Key Highlights
- Convenient access to Downtown Portland via Hwy 26, I‑205, and I‑84.
- Located within a block of a Portland MAX stop (Blue Line) for easy transportation.
- Walking distance to shopping and dining on E Burnside Street.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$256,799
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,135,980
$5.1M
Cap Rate 7%
$3,668,557
$3.7M
Cap Rate 9%
$2,853,322
$2.9M
Market Conditions
NOI Build-Up for 20,000 SF
Gross rent
$492.0K $24.60/SF
− Vacancy
−$25.1K −$1.25/SF
EGI
$466.9K $23.35/SF
− OpEx
−$210.1K −$10.51/SF
NOI
$256.8K $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%
$5,135,980
Cap Rate 7%
$3,668,557
Cap Rate 9%
$2,853,322
Alternative Uses
Best Use
Apartment 5plus
$3.67M
$3.21M – $4.28M
NOI $256,799 @ 7.0% cap · market cap 7.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.62M
$4.91M – $6.55M
NOI $393,155 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
Explore this area
Business Placement
Demographics for 97233, OR
41,625
Population
14,844
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
80%
High-School Grad
4.6 sq mi
ZIP Area
9,049
Density / Sq Mi
$54,886
Median Household Income
$37,216
Median Earnings
$1,352
Median Rent
$385,100
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
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Frequently Asked Questions
What type of property is this?
Apartment building - 25-unit apartment complex in East Portland with convenient access.
Where is this apartment building located?
The property is located at 14455 E Burnside St Portland, OR.
What is the asking price?
The asking price for this property is $3,290,000.
What are key features of this property?
This property features: Convenient access to Downtown Portland via Hwy 26, I‑205, and I‑84.; Located within a block of a Portland MAX stop (Blue Line) for easy transportation.; Walking distance to shopping and dining on E Burnside Street.
