Renovated 12-Unit Apartment
For Sale
$2,250,000
4633 SW Huber St, Portland, OR 97219
Well-maintained 12-unit building built in 1969 with unit upgrades, shared laundry, and 15 off-street parking spaces.
Property Size9,052 SF
Days on Market117
Property Features for 4633 SW Huber St
General Information
Standard status
Active
Size
9,052 SF
Total Parking Spaces
15
Property subtype
Multifamily
Occupancy
95%
Additional Details
Cap Rate
6.07%
Multifamily Units
12
Amenities
on-site shared laundry
private rear courtyard with seating and landscaping
SOUTHWEST PORTLAND ASSET - 12 Unit Apartment Community Built 1969 in Established Southwest Portland Residential Neighborhood
ASSUMABLE IN PLACE DEBT - Assumable Loan at 5.6 Percent Interest and Approximately 60 Percent Loan to Value
CAPITAL EXPENDITURE RISK - Majority of Units Remodeled Within Past 15 Years Reducing Near Term Capital Expenditure Risk
DESIRABLE UNIT MIX - Two Bedroom Heavy Unit Mix Supporting Strong Tenant Demand and Longer Average Lengths of Stay
ONGOING RENT UPSIDE - Updated Interiors Support Continued Rent Growth Through Selective Interior Enhancements
Building Details
Building Size
9,052 SF
Year Built
1969
Units
12
Listing Agency:
Marcus & Millichap - Portland
Listed By:
Whitney Rhoades · License #License(s): OR: 201204200, WA: 25012784
(503) 200-2022
Source:
Marcusmillichap
Added: May 14
Changed: Sep 3
Last Checked: Sep 7 at 4:53AM
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 Marcus & Millichap - Portland
Investment Insights
Based on property information with market context.
Huber Terrace is a well-maintained 12-unit apartment community built in 1969. The property has seen thoughtful interior upgrades, with most units renovated over the past 15 years. The unit mix includes one studio, three one-bedroom apartments, and eight two-bedroom apartments. Amenities include on-site shared laundry, a private rear courtyard with seating and landscaping, and fifteen off-street parking spaces.
Located at 4633 SW Huber Street in Southwest Portland, Huber Terrace is set in a quiet residential pocket with access to everyday amenities. The property is minutes from Multnomah Village, providing nearby grocery stores, restaurants, coffee shops, and daily services. The surrounding area is primarily single-family homes and low-density multifamily properties.
From an operating and purchase standpoint, the community features a concentrated allocation of two-bedroom layouts, alongside the studio and one-bedroom units. The listing also notes assumable in-place financing at a 5.6% interest rate with approximately 60% loan-to-value.
Located at 4633 SW Huber Street in Southwest Portland, Huber Terrace is set in a quiet residential pocket with access to everyday amenities. The property is minutes from Multnomah Village, providing nearby grocery stores, restaurants, coffee shops, and daily services. The surrounding area is primarily single-family homes and low-density multifamily properties.
From an operating and purchase standpoint, the community features a concentrated allocation of two-bedroom layouts, alongside the studio and one-bedroom units. The listing also notes assumable in-place financing at a 5.6% interest rate with approximately 60% loan-to-value.
Key Highlights
- 12‑unit apartment community built in 1969 at 4633 SW Huber Street in Southwest Portland
- Unit mix includes 1 studio, 3 one‑bedroom units, and 8 two‑bedroom units
- Most units renovated over the past 15 years with upgrades such as luxury vinyl plank flooring, granite countertops, and stainless steel appliances (select units)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$117,122
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,342,440
$2.3M
Cap Rate 7%
$1,673,171
$1.7M
Cap Rate 9%
$1,301,356
$1.3M
Market Conditions
NOI Build-Up for 9,052 SF
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.
Gross rent
$227.0K $25.08/SF
− Vacancy
−$14.1K −$1.55/SF
EGI
$212.9K $23.53/SF
− OpEx
−$95.8K −$10.59/SF
NOI
$117.1K $12.94/SF
Area
ZIP 97219
Vacancy
6.20%
Lease Rate
$25.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,342,440
Cap Rate 7%
$1,673,171
Cap Rate 9%
$1,301,356
Alternative Uses
Best Use
Apartment 5plus
$1.67M
$1.46M – $1.95M
NOI $117,122 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.54M
$2.22M – $2.97M
NOI $177,942 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
744
Businesses Nearby
Explore this area
Business Placement
Demographics for 97219, OR
42,474
Population
18,881
Households
2.2
Avg Household Size
40
Median Age
66%
College-Educated
98%
High-School Grad
11.7 sq mi
ZIP Area
3,630
Density / Sq Mi
$115,525
Median Household Income
$59,178
Median Earnings
$1,603
Median Rent
$651,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 12-unit building built in 1969 with unit upgrades, shared laundry, and 15 off-street parking spaces.
Where is this apartment building located?
The property is located at 4633 SW Huber St Portland, OR.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 12‑unit apartment community built in 1969 at 4633 SW Huber Street in Southwest Portland; Unit mix includes 1 studio, 3 one‑bedroom units, and 8 two‑bedroom units; Most units renovated over the past 15 years with upgrades such as luxury vinyl plank flooring, granite countertops, and stainless steel appliances (select units)
