Six-Plex with Private Fenced
For Sale
$2,099,900
1318 NE 46th AVE, Portland, OR 97213
Meticulously maintained new construction 6-plex with 2-bedroom, 2-bath units and private fenced yard spaces.
Property Size6,121 SF
Days on Market701
Property Features for 1318 NE 46th AVE
General Information
Standard status
Active
Size
6,121 SF
Property subtype
MULTI_FAMILY
Additional Details
Highway Access
Yes
Multifamily Units
6
Building Details
Building Size
6,121 SF
Year Built
2024
Listing Agency:
Keller Williams Realty Portland Premiere
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Source:
Eleeterealestate
Added: Nov 7, 2024
Changed: Oct 8
Last Checked: Oct 7 at 6:49PM
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 Keller Williams Realty Portland Premiere
Investment Insights
Based on property information with market context.
This meticulously maintained six-plex is identified as new construction and consists of individual 2-bedroom, 2-bathroom units. Each unit is laid out with an open-concept design featuring expansive windows, naturally bright interiors, and a main-floor full bathroom with a walk-in shower. The living areas flow into the kitchen with warm cabinetry, stainless steel appliances, and tile accents. Upstairs, both bedrooms are supported by a second bathroom that includes a soaking tub. For outdoor use, every unit includes a private, fenced yard space intended for relaxation or light outdoor enjoyment. A 1-year builder warranty is also in place.
The property is described as being located about 0.3 miles from coffee shops, grocery stores, restaurants, and parks. Connectivity is supported by easy access to I-84, and the remarks reference an 89 BikeScore.
For buyers seeking an income-oriented residential asset, the uniform unit mix and repeatable in-unit amenities may simplify leasing and day-to-day operations. The combination of bright open layouts, two-bathroom functionality, and private fenced yard space can also align with tenant preferences for more usable living and outdoor space within a low-maintenance, recently built configuration, backed by a builder warranty term.
The property is described as being located about 0.3 miles from coffee shops, grocery stores, restaurants, and parks. Connectivity is supported by easy access to I-84, and the remarks reference an 89 BikeScore.
For buyers seeking an income-oriented residential asset, the uniform unit mix and repeatable in-unit amenities may simplify leasing and day-to-day operations. The combination of bright open layouts, two-bathroom functionality, and private fenced yard space can also align with tenant preferences for more usable living and outdoor space within a low-maintenance, recently built configuration, backed by a builder warranty term.
Key Highlights
- New construction 6‑plex built in 2024 with 2‑bedroom, 2‑bath units
- Each unit includes air conditioning plus a dishwasher, microwave, and range
- Rents range from $2,095 to $2,250 per unit (1 unit each): Unit 1 $2,195; Unit 2 $2,150; Unit 3 $2,250; Unit 4 $2,150; Unit 5 $2,250; Unit 6 $2,095
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,593
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,571,860
$1.6M
Cap Rate 7%
$1,122,757
$1.1M
Cap Rate 9%
$873,256
$873.3K
Market Conditions
NOI Build-Up for 6,121 SF
Gross rent
$150.6K $24.60/SF
− Vacancy
−$7.7K −$1.25/SF
EGI
$142.9K $23.35/SF
− OpEx
−$64.3K −$10.51/SF
NOI
$78.6K $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%
$1,571,860
Cap Rate 7%
$1,122,757
Cap Rate 9%
$873,256
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$982.4K – $1.31M
NOI $78,593 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.50M – $2.01M
NOI $120,325 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,012
Businesses Nearby
Explore this area
Business Placement
Demographics for 97213, OR
31,260
Population
14,971
Households
2.1
Avg Household Size
40
Median Age
61%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
7,815
Density / Sq Mi
$95,801
Median Household Income
$56,941
Median Earnings
$1,490
Median Rent
$609,100
Median Home Value
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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 - Meticulously maintained new construction 6-plex with 2-bedroom, 2-bath units and private fenced yard spaces.
Where is this apartment building located?
The property is located at 1318 NE 46th AVE Portland, OR.
What is the asking price?
The asking price for this property is $2,099,900.
What are key features of this property?
This property features: New construction 6‑plex built in 2024 with 2‑bedroom, 2‑bath units; Each unit includes air conditioning plus a dishwasher, microwave, and range; Rents range from $2,095 to $2,250 per unit (1 unit each): Unit 1 $2,195; Unit 2 $2,150; Unit 3 $2,250; Unit 4 $2,150; Unit 5 $2,250; Unit 6 $2,095
