Two-Unit Duplex with
For Sale
$875,000
1318 SE Palm St, Portland, OR 97214
The mirrored residences each include two bedrooms, one full bath, a fireplace, and a private basement.
Property Size2,800 SF
Price / SF$312.50
Days on Market8
Property Features for 1318 SE Palm St
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
fireplace
built-ins
basement
hardwood floors
eat-in kitchen
office space
Building Details
Year Built
1924
Buildings
1
Construction
Cape Cod-style
Listing Agency:
RE/MAX Equity Group
Listed By:
Jewel Robinson · License #921100001
(503) 708-9508
Source:
Evokepropertypartners
Added: Sep 29
Last Checked: Oct 5 at 9:23PM
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 RE/MAX Equity Group
Investment Insights
Based on property information with market context.
Built in 1924, this 2,800-square-foot duplex contains two mirrored residences, each with two bedrooms, one full bathroom, hardwood floors, a fireplace, and its own basement. One fireplace is gas-fired and the other burns wood. One residence has formal living and dining rooms with built-ins; the other includes an eat-in kitchen. Range, dishwasher, refrigerator, and microwave are included. Office areas have been created in the basements. One unit is occupied, while the other is vacant.
The property is a few blocks from the Hawthorne and Division districts, where cafes, wine shops, restaurants, grocery stores, and a movie theater are located.
The property is a few blocks from the Hawthorne and Division districts, where cafes, wine shops, restaurants, grocery stores, and a movie theater are located.
Key Highlights
- Two mirrored units, each with 2 bedrooms and 1 full bath
- 2,800 square feet; built in 1924
- Each residence has a fireplace and its own basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,020
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$780,400
$780.4K
Cap Rate 7%
$557,429
$557.4K
Cap Rate 9%
$433,556
$433.6K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$58.8K $21.00/SF
− Vacancy
−$3.1K −$1.09/SF
EGI
$55.7K $19.91/SF
− OpEx
−$16.7K −$5.97/SF
NOI
$39.0K $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%
$780,400
Cap Rate 7%
$557,429
Cap Rate 9%
$433,556
Alternative Uses
Best Use
Multifamily LT 5
$557.4K
$487.8K – $650.3K
NOI $39,020 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$513.6K
$449.4K – $599.2K
NOI $35,952 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$786.3K
$688.0K – $917.4K
NOI $55,042 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,847
Businesses Nearby
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Business Placement
Demographics for 97214, OR
28,403
Population
15,948
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
98%
High-School Grad
2.9 sq mi
ZIP Area
9,794
Density / Sq Mi
$86,879
Median Household Income
$55,643
Median Earnings
$1,628
Median Rent
$733,200
Median Home Value
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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 - The mirrored residences each include two bedrooms, one full bath, a fireplace, and a private basement.
Where is this duplex located?
The property is located at 1318 SE Palm St Portland, OR.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two mirrored units, each with 2 bedrooms and 1 full bath; 2,800 square feet; built in 1924; Each residence has a fireplace and its own basement
