Two-Unit Duplex with
For Sale
$475,000
1704 NE 81ST AVE, Portland, OR 97213
Occupied units feature private garages and in-unit laundry for practical residential functionality.
Property Size1,560 SF
Days on Market688
Property Features for 1704 NE 81ST AVE
General Information
Standard status
Active
Size
1,560 SF
Total Parking Spaces
2
Property subtype
MULTI_FAMILY
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
could benefit from some cosmetic updates and light TLC
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$5,449
Amenities
in-unit washer and dryer
Building Details
Building Size
1,560 SF
Year Built
1962
Buildings
1
Construction
mid-century
Tenancy
Multi
Listing Agency:
eXp Realty, LLC
Listed By:
Lillie Barr
(503) 313-8806
Source:
Eleeterealestate
Added: Nov 18, 2024
Changed: Oct 6
Last Checked: Oct 5 at 11:06PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This two-unit duplex in Portland’s NE 81st Avenue area was built in 1962 and includes two occupied residences. Each unit offers 2 bedrooms, 1 bathroom, a private one-car garage, and an in-unit washer and dryer. The property has a functional layout and mid-century construction, with cosmetic updates and light TLC identified as potential areas of work.
The configuration provides separate garage and laundry amenities for both residences. A Home Energy Score of 3 is documented for the property, with the associated HES report available through the provided registry link.
The configuration provides separate garage and laundry amenities for both residences. A Home Energy Score of 3 is documented for the property, with the associated HES report available through the provided registry link.
Key Highlights
- Two occupied units, each with 2 bedrooms and 1 bathroom
- Private one‑car garage assigned to each unit
- In‑unit washer and dryer in both residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,740
Cap Rate
4.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$434,800
$434.8K
Cap Rate 7%
$310,571
$310.6K
Cap Rate 9%
$241,556
$241.6K
Market Conditions
NOI Build-Up for 1,560 SF
Gross rent
$32.8K $21.00/SF
− Vacancy
−$1.7K −$1.09/SF
EGI
$31.1K $19.91/SF
− OpEx
−$9.3K −$5.97/SF
NOI
$21.7K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$434,800
Cap Rate 7%
$310,571
Cap Rate 9%
$241,556
Alternative Uses
Best Use
Multifamily LT 5
$310.6K
$271.8K – $362.3K
NOI $21,740 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$286.1K
$250.4K – $333.8K
NOI $20,030 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$438.1K
$383.3K – $511.1K
NOI $30,666 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
646
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Duplex - Occupied units feature private garages and in-unit laundry for practical residential functionality.
Where is this duplex located?
The property is located at 1704 NE 81ST AVE Portland, OR.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two occupied units, each with 2 bedrooms and 1 bathroom; Private one‑car garage assigned to each unit; In‑unit washer and dryer in both residences
