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Building Details

Year Built 1976

Listing Agency: MORE Realty

Listed By: Jorge Hasbun Show Phone

Source: Wyndeekono

Added: Jul 26 Changed: Oct 9 Last Checked: Oct 7 at 5:32PM

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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 MORE Realty

Investment Insights

Based on property information with market context.

This four-unit residential property includes three two-story apartments with two bedrooms and one and one-half baths each, plus a single-level three-bedroom, two-bath unit. The building was constructed in 1976 and features a metal roof and refreshed exterior paint. On-site parking accommodates eight vehicles, including four covered spaces.

The property is located on SW Walnut St in Portland, with parks, shopping, and public transportation nearby. The unit mix combines consistent two-bedroom layouts with a larger three-bedroom floor plan, providing varied residential configurations within one quadplex.

Key Highlights

• Four‑unit residential property with three two‑story units and one single‑level unit
• Three units offer 2 bedrooms and 1 1/2 baths; the fourth has 3 bedrooms and 2 baths
• 8 parking spaces, including 4 covered

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$57,596

Cap Rate

4.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,151,920 $1.2M

Cap Rate 7%

$822,800 $822.8K

Cap Rate 9%

$639,956 $640.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,950 SF

Gross rent

$87.7K $22.20/SF

− Vacancy

−$5.4K −$1.37/SF

EGI

$82.3K $20.83/SF

− OpEx

−$24.7K −$6.25/SF

NOI

$57.6K $14.58/SF

Area

ZIP 97223

Vacancy

6.17%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,151,920

Cap Rate 7%

$822,800

Cap Rate 9%

$639,956

Alternative Uses

Best Use

Multifamily LT 5

$822.8K

$720.0K – $959.9K (±1% cap)

NOI $57,596 @ 7.0% cap · market cap 4.80%

Second Best

Apartment 5plus

$731.3K

$639.9K – $853.1K (±1% cap)

NOI $51,188 @ 7.0% cap · market cap 4.27%

Theoretical Best

Office A

$1.11M

$970.6K – $1.29M (±1% cap)

NOI $77,648 @ 7.0% cap · market cap 6.47%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Law Firm Restaurant Dental Office Hair Salon Spa & Massage Center Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

177

Businesses Nearby

Explore this area Business Placement

Demographics for 97223, OR

49,967

Population

21,428

Households

2.3

Avg Household Size

39

Median Age

50%

College-Educated

95%

High-School Grad

11.1 sq mi

ZIP Area

4,502

Density / Sq Mi

$108,040

Median Household Income

$57,411

Median Earnings

$1,726

Median Rent

$577,600

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Mixed two- and three-bedroom layouts with on-site parking near parks, shopping, and public transportation.

Where is this quadplex located?

The property is located at 12369 SW Walnut St Portland, OR.

What is the asking price?

The asking price for this property is $1,200,000.

What are key features of this property?

This property features: Four‑unit residential property with three two‑story units and one single‑level unit; Three units offer 2 bedrooms and 1 1/2 baths; the fourth has 3 bedrooms and 2 baths; 8 parking spaces, including 4 covered