Four-Unit Residential Income
12369 SW WALNUT St Portland, OR 97223
12369 SW WALNUT St, Portland, OR, 97223
$1,200,000
For Sale
$1,200,000
MULTI_FAMILY - Portland, OR
Property Size3,950 SF
Lot Size0.36 Acres
Price / SF$303.80
Days on Market47
Property Features for 12369 SW WALNUT St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-12
- Bedrooms
- 9
- Bathrooms
- 8
- Rooms
- Bedroom 7, Bedroom 1, Bedroom 3, Bathroom 8, Bathroom 7, Bedroom 6, Bedroom 2, Bedroom 9, Bathroom 3, Bathroom 4, Bathroom 2, Bathroom 5, Bathroom 6, Bedroom 4, Bedroom 5, Bedroom 8, Bathroom 1
- 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
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 Updated: Jul 21 at 4:37AM Checked: Jul 22 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.
Investment Insights
Based on property information with market context.
This four-unit residential income property includes three two-story units with two bedrooms and 1½ baths, plus a fourth one-level unit offering three bedrooms and two baths. The exterior has been refreshed with fresh paint completed a couple of years ago, and the property has a metal roof. With a total building size of 3,950 square feet on a 0.36-acre lot, the layout supports a mix of household sizes under one ownership.
The property is located at 12369 SW WALNUT St in Portland, OR (Washington County) and is offered under R-12 zoning. Parking is on-site with eight spaces total, four of which are covered. The seller also notes convenient proximity to parks, shopping, and access to public transportation.
For buyers seeking a straightforward multi-family asset, the unit mix provides flexibility for tenant demand across two- and three-bedroom needs while maintaining a consistent overall building. On-site parking, including covered stalls, is a practical amenity for residents. The combination of a metal roof and relatively recent exterior paint adds immediate exterior durability and curb appeal for an owner looking to manage the property with a defined, residential income focus.
The property is located at 12369 SW WALNUT St in Portland, OR (Washington County) and is offered under R-12 zoning. Parking is on-site with eight spaces total, four of which are covered. The seller also notes convenient proximity to parks, shopping, and access to public transportation.
For buyers seeking a straightforward multi-family asset, the unit mix provides flexibility for tenant demand across two- and three-bedroom needs while maintaining a consistent overall building. On-site parking, including covered stalls, is a practical amenity for residents. The combination of a metal roof and relatively recent exterior paint adds immediate exterior durability and curb appeal for an owner looking to manage the property with a defined, residential income focus.
Key Highlights
- Year built: 1976 with baseboard heating
- Metal roof
- 3 two‑story units, each with 2 bedrooms and 1 1/2 baths
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $87.7k | $22.20 |
| − Vacancy | −$5.4k | −$1.37 |
| EGI | $82.3k | $20.83 |
| − OpEx | −$24.7k | −$6.25 |
| NOI | $57.6k | $14.58 |
3,950 SF · lease $22.20/SF/yr · vacancy 6.17% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four-unit setup with covered parking and updated exterior elements suitable for income-focused ownership.
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: Year built: 1976 with baseboard heating; Metal roof; 3 two‑story units, each with 2 bedrooms and 1 1/2 baths
