Sixth-Floor Live-Work
For Sale
$325,000
1314 NW Irving St Unit 605, Portland, OR 97209
EX-zoned loft accommodates residential, creative studio, and office use in Portland’s Pearl District.
Property Size1,202 SF
Price / SF$270.38
Days on Market50
Property Features for 1314 NW Irving St Unit 605
General Information
Standard status
Active
Size
1,202 SF
Total Parking Spaces
1
Zoning
EX
Additional Details
Floor
6
Amenities
rooftop deck
meeting room
employee restrooms
central air conditioning
Building Details
Year Built
1925
Buildings
1
Construction
industrial
Listing Agency:
Josh Reiter Real Estate
Listed By:
Josh Reiter · License #931000122
(503) 706-1411
Source:
Christiesrealestateevg
Added: Sep 4
Changed: Oct 11
Last Checked: Oct 7 at 12:55PM
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 Josh Reiter Real Estate
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Investment Insights
Based on property information with market context.
This sixth-floor live-work loft at 1314 NW Irving St Unit 605 offers 1,202 square feet within the Irving St. Lofts warehouse conversion, built in 1925. Expansive windows, high ceilings, polished and stained concrete floors, stainless steel appliances, and central air conditioning combine historic industrial character with contemporary functionality. The space is suited to residential, creative studio, professional office, or combined live-work use.
Zoned EX (Central Employment), the property is located in Portland’s Pearl District and carries a Walk Score of 99. Downtown and neighborhood views extend from the loft, while a rooftop deck provides 360-degree panoramas of the Portland skyline, mountains, and cityscape. The building also includes one secure parking space, a second-floor meeting room, and employee restrooms.
Zoned EX (Central Employment), the property is located in Portland’s Pearl District and carries a Walk Score of 99. Downtown and neighborhood views extend from the loft, while a rooftop deck provides 360-degree panoramas of the Portland skyline, mountains, and cityscape. The building also includes one secure parking space, a second-floor meeting room, and employee restrooms.
Key Highlights
- 1,202‑square‑foot sixth‑floor loft in a warehouse conversion built in 1925
- EX (Central Employment) zoning supports residential, creative studio, and office use
- Expansive windows, soaring ceilings, stained concrete floors, and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,227
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$324,540
$324.5K
Cap Rate 7%
$231,814
$231.8K
Cap Rate 9%
$180,300
$180.3K
Market Conditions
NOI Build-Up for 1,202 SF
Gross rent
$28.8K $24.00/SF
− Vacancy
−$2.9K −$2.40/SF
EGI
$26.0K $21.60/SF
− OpEx
−$9.7K −$8.10/SF
NOI
$16.2K $13.50/SF
Area
Portland, OR
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$324,540
Cap Rate 7%
$231,814
Cap Rate 9%
$180,300
Alternative Uses
Best Use
Mixed Use
$231.8K
$202.8K – $270.5K
NOI $16,227 @ 7.0% cap · market cap 4.99%
Second Best
Office B
$222.3K
$194.5K – $259.3K
NOI $15,560 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$337.6K
$295.4K – $393.8K
NOI $23,629 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
10,690
Businesses Nearby
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Business Placement
Demographics for 97209, OR
22,755
Population
16,437
Households
1.4
Avg Household Size
38
Median Age
66%
College-Educated
96%
High-School Grad
1.0 sq mi
ZIP Area
22,755
Density / Sq Mi
$84,059
Median Household Income
$68,731
Median Earnings
$1,669
Median Rent
$573,700
Median Home Value
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Market
Vacancy Rate% for Office in Portland, OR
Frequently Asked Questions
What type of property is this?
Live-work space - EX-zoned loft accommodates residential, creative studio, and office use in Portland’s Pearl District.
Where is this live-work space located?
The property is located at 1314 NW Irving St Unit 605 Portland, OR.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,202‑square‑foot sixth‑floor loft in a warehouse conversion built in 1925; EX (Central Employment) zoning supports residential, creative studio, and office use; Expansive windows, soaring ceilings, stained concrete floors, and stainless steel appliances
