Four-Unit Property with Covered
For Sale
$1,200,000
12369 SW WALNUT St, Portland, OR 97223
MultiFamily, Portland, OR
Property Size3,950 SF
Lot Size0.36 Acres
Price / SF$303.80
Days on Market140
Property Features for 12369 SW WALNUT St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-12
Bedrooms
9
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 6, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 5, Bedroom 7, Bedroom 9, Bathroom 5, Bathroom 2, Bathroom 7, Bathroom 8, Bathroom 6, Bedroom 4, Bedroom 8
Elementary school
Mary Woodward
Middle school
Fowler
High school
Tualatin
Directions
SW Walnut St.
Subdivision
_151
Standard status
Active
APN
R473516
Size
3,950 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Description
WALMAR ACRES, LOT 3, ACRES 0.36
Tax Annual Amount
7957
Legal Description
WALMAR ACRES, LOT 3, ACRES 0.36
Utilities
Heating system
Baseboard
Building Details
Year built
1976
Floors in Building
2
Number of units
4
Roof type
Metal
Listing Agency:
MORE Realty
(503) 353-6673
Listed By:
Jorge Hasbun
(503) 515-5511
Added: Jun 6
Changed: Oct 22
Last Checked: Oct 23 at 2:06AM
MLS# 204749515
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 3,950-square-foot quadplex, built in 1976, contains four residential units. Three are two-story layouts with two bedrooms and one-and-a-half baths each. The fourth is a single-level unit offering three bedrooms and two baths. The property has baseboard heating, a metal roof, and exterior paint completed a couple of years ago.
The 0.36-acre site includes eight parking spaces, with four covered spaces. Located in Portland, Oregon, the property is near parks, shopping, and public transportation access. R-12 zoning is identified for the property.
The 0.36-acre site includes eight parking spaces, with four covered spaces. Located in Portland, Oregon, the property is near parks, shopping, and public transportation access. R-12 zoning is identified for the property.
Key Highlights
- Four‑unit quadplex with 3,950 square feet of property size
- Three two‑story units with 2 bedrooms and 1 1/2 baths each
- One single‑level unit with 3 bedrooms and 2 baths
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
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
NOI $57,596 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$731.3K
$639.9K – $853.1K
NOI $51,188 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$1.11M
$970.6K – $1.29M
NOI $77,648 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Established multifamily property with baseboard heating, metal roofing, and exterior paint completed a couple of years ago.
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 quadplex with 3,950 square feet of property size; Three two‑story units with 2 bedrooms and 1 1/2 baths each; One single‑level unit with 3 bedrooms and 2 baths
