Glenwood Apartments: Renovated 28-Unit
For Sale
Contact for pricing
13116 SE Powell Blvd, Portland, OR 97236
Renovated 28-unit apartment community in SE Portland with value-add potential.
Property Size22,470 SF
Price / SF$173.56
Days on Market331
Property Features for 13116 SE Powell Blvd
General Information
Standard status
Active
Size
22,470 SF
Class
B
Property subtype
Multifamily
Zoning
RM1
Investment Type
Value Add
Building Details
Buildings
6
Stories
2
Units
28
Listing Agency:
Pinnacle Real Estate Service LLC
(503) 984-6737
Listed By:
Nasser Farhoud · License #OR
Source:
Crexi
Added: Sep 25, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:32AM
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 Pinnacle Real Estate Service LLC
Investment Insights
Based on property information with market context.
The Glenwood Apartments, located in SE Portland, is a 28-unit community constructed in 1970. The property has undergone significant interior and exterior renovations. Nearly half of the units have been remodeled with new flooring, countertops, cabinets, and washer/dryer hookups. Exterior upgrades include a new roof, walkways, and staircases. The property offers a mix of mostly 2BR units and off-street parking. Situated in a highly visible location on Powell Blvd, the property provides easy access to I-205, shopping, and parks. The property size is 22470 square feet. It is a stabilized asset with proven income and continued value-add potential.
Key Highlights
- Significant interior and exterior renovations completed.
- Mix of mostly 2BR units, remodeled units feature washer/dryer hookups.
- Stabilized asset offering proven income and continued value‑add potential.
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
$288,514
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
7.40%
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%
$5,770,280
$5.8M
Cap Rate 7%
$4,121,629
$4.1M
Cap Rate 9%
$3,205,711
$3.2M
Market Conditions
NOI Build-Up for 22,470 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
$552.8K $24.60/SF
− Vacancy
−$28.2K −$1.25/SF
EGI
$524.6K $23.35/SF
− OpEx
−$236.1K −$10.51/SF
NOI
$288.5K $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 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%
$5,770,280
Cap Rate 7%
$4,121,629
Cap Rate 9%
$3,205,711
Alternative Uses
Best Use
Apartment 5plus
$4.12M
$3.61M – $4.81M
NOI $288,514 @ 7.0% cap · market cap 7.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.31M
$5.52M – $7.36M
NOI $441,709 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
Explore this area
Business Placement
Demographics for 97236, OR
40,193
Population
13,736
Households
2.9
Avg Household Size
36
Median Age
21%
College-Educated
81%
High-School Grad
7.7 sq mi
ZIP Area
5,220
Density / Sq Mi
$68,582
Median Household Income
$38,131
Median Earnings
$1,436
Median Rent
$414,400
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 - Renovated 28-unit apartment community in SE Portland with value-add potential.
Where is this apartment building located?
The property is located at 13116 SE Powell Blvd Portland, OR.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Significant interior and exterior renovations completed.; Mix of mostly 2BR units, remodeled units feature washer/dryer hookups.; Stabilized asset offering proven income and continued value‑add potential.
