Six-Plex Residential Building with Private
For Sale
$2,150,000
1318 NE 46th Ave, Portland, OR 97213
MULTI_FAMILY - Portland, OR
Property Size6,121 SF
Lot Size0.12 Acres
Price / SF$351.25
Days on Market633
Property Features for 1318 NE 46th Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
12
Bathrooms
12
Full bathrooms
12
Rooms
Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 5, Bathroom 7, Bedroom 8, Bedroom 9, Bathroom 10, Bathroom 9, Bedroom 11, Bedroom 1, Bathroom 6, Bathroom 2, Bedroom 10, Bedroom 6, Bathroom 8, Bathroom 3, Bedroom 7, Bathroom 4, Bathroom 11, Bathroom 12, Bedroom 12, Bathroom 1
Subdivision
HOLLYWOOD
Elementary school
Laurelhurst
Middle school
Laurelhurst
High school
Grant
Directions
NE Sandy Blvd, E on NE Halsey St, S on NE 46th Ave
Standard status
Active
APN
New Construction
Size
6,121 SF
Lot size
0.12 Acres
Utilities
Cooling system
Heat Pump
Amenities
private fenced yard
Building Details
Year built
2024
Floors in Building
2
Number of units
6
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: Nov 7, 2024
Changed: Aug 2
Last Checked: Aug 2 at 5:06PM
MLS# 24196384
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This meticulously maintained six-plex offers a clean, modern residential layout with two-bedroom, two-bathroom units. Each unit includes an open-concept floor plan with expansive windows and a combination of living space and kitchen finishes highlighted by stainless steel appliances and warm cabinetry. The main floor features a full bathroom with a walk-in shower, while upstairs both bedrooms are complemented by a soaking tub in the second bathroom. A private, fenced yard space is included with every unit, providing dedicated outdoor space.
The property sits on a 0.12-acre lot totaling 6,121 square feet. It is zoned RM2 and was built in 2024. The building is equipped with a heat pump and has a composition roof. Public remarks note convenient access to I-84 and proximity to coffee shops, grocery stores, restaurants, and parks, with an 89 BikeScore.
Each unit’s configuration is designed around everyday comfort, with living areas flowing into the kitchens and dedicated outdoor space for renters. A 1-year builder warranty is noted.
The property sits on a 0.12-acre lot totaling 6,121 square feet. It is zoned RM2 and was built in 2024. The building is equipped with a heat pump and has a composition roof. Public remarks note convenient access to I-84 and proximity to coffee shops, grocery stores, restaurants, and parks, with an 89 BikeScore.
Each unit’s configuration is designed around everyday comfort, with living areas flowing into the kitchens and dedicated outdoor space for renters. A 1-year builder warranty is noted.
Key Highlights
- Private, fenced yard space included with every 2‑bedroom, 2‑bath unit
- Built in 2024 and zoned RM2
- 6,121 square feet on a 0.12‑acre lot
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $150.6k | $24.60 |
| − Vacancy | −$7.7k | −$1.25 |
| EGI | $142.9k | $23.35 |
| − OpEx | −$64.3k | −$10.51 |
| NOI | $78.6k | $12.84 |
6,121 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$982.4K – $1.31M
NOI $78,593 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.50M – $2.01M
NOI $120,325 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
868
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
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 - RM2 zoned six-plex built in 2024, with private fenced yard space for every unit.
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 $2,150,000.
What are key features of this property?
This property features: Private, fenced yard space included with every 2‑bedroom, 2‑bath unit; Built in 2024 and zoned RM2; 6,121 square feet on a 0.12‑acre lot
