Duplex with Private
For Sale
$775,000
1324 Se 51st Ave, Portland, OR 97215
Updated kitchen features custom cabinetry, a gas range, and finished countertops within a classic residential layout.
Property Size2,594 SF
Price / SF$298.77
Days on Market48
Property Features for 1324 Se 51st Ave
General Information
Standard status
Active
Size
2,594 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1910
Listing Agency:
Oregon First
Listed By:
Terry Long · License #201203728
(503) 667-5686
Source:
Theoregonhomefinder
Added: Aug 31
Changed: Oct 3
Last Checked: Oct 16 at 9:35AM
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 Oregon First
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Investment Insights
Based on property information with market context.
This 2,594-square-foot duplex, built in 1910, combines period character with updated interior features. The main level includes two bedrooms, a full bathroom, living and dining rooms, and hardwood flooring. An upper-level owner’s suite has its own private deck, while the lower level provides separate living quarters with two bedrooms, a bathroom, and a kitchenette.
The property is located at 1324 SE 51st Ave in Portland, near Mt. Tabor Park and the Hawthorne District. The kitchen includes custom cabinets, a gas range, and countertops. The recorded Home Energy Score is 2, with the HES report available through the Green Building Registry.
The property is located at 1324 SE 51st Ave in Portland, near Mt. Tabor Park and the Hawthorne District. The kitchen includes custom cabinets, a gas range, and countertops. The recorded Home Energy Score is 2, with the HES report available through the Green Building Registry.
Key Highlights
- 2,594‑square‑foot duplex built in 1910
- Main level includes 2 bedrooms and a full bathroom
- Upper‑level owner’s suite with private deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,149
Cap Rate
4.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$722,980
$723.0K
Cap Rate 7%
$516,414
$516.4K
Cap Rate 9%
$401,656
$401.7K
Market Conditions
NOI Build-Up for 2,594 SF
Gross rent
$54.5K $21.00/SF
− Vacancy
−$2.8K −$1.09/SF
EGI
$51.6K $19.91/SF
− OpEx
−$15.5K −$5.97/SF
NOI
$36.1K $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%
$722,980
Cap Rate 7%
$516,414
Cap Rate 9%
$401,656
Alternative Uses
Best Use
Multifamily LT 5
$516.4K
$451.9K – $602.5K
NOI $36,149 @ 7.0% cap · market cap 4.66%
Second Best
Apartment 5plus
$475.8K
$416.3K – $555.1K
NOI $33,307 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$728.5K
$637.4K – $849.9K
NOI $50,992 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,557
Businesses Nearby
Explore this area
Business Placement
Demographics for 97215, OR
18,221
Population
7,855
Households
2.3
Avg Household Size
40
Median Age
64%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
7,922
Density / Sq Mi
$114,361
Median Household Income
$62,704
Median Earnings
$1,587
Median Rent
$658,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Updated kitchen features custom cabinetry, a gas range, and finished countertops within a classic residential layout.
Where is this duplex located?
The property is located at 1324 Se 51st Ave Portland, OR.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 2,594‑square‑foot duplex built in 1910; Main level includes 2 bedrooms and a full bathroom; Upper‑level owner’s suite with private deck
