Remodeled Duplex with Detached
For Sale
$799,000
13414 NW SHERRY ST, Portland, OR 97229
Remodeled duplex with two 3-bedroom, 1-bath units on a multi-family zoned lot, plus a detached shop.
Days on Market13
Property Features for 13414 NW SHERRY ST
General Information
Standard status
Active
Property subtype
MULTI_FAMILY
Additional Details
Cap Rate
6.2%
Building Details
Building Size
2,485 SF
Year Built
1951
Buildings
2
Tenancy
Multi
Listing Agency:
Kevin Morris Realty
(503) 314-9230
Listed By:
Rachelle Kammann
(503) 314-9230
Source:
Eleeterealestate
Added: Jul 22
Changed: Jul 30
Last Checked: Aug 2 at 12:10PM
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 Kevin Morris Realty
Investment Insights
Based on property information with market context.
Remodeled duplex built in 1951 featuring two spacious 3-bedroom, 1-bath units. The property has a detached shop that is currently leased and can provide additional flexibility for income generation and on-site uses. Current rental income supports a 6.2% cap rate. Recent remodeling includes all new water and sewer line, new tankless water heaters, and new electrical panels.
Set on a generous multi-family zoned lot, the site offers development or expansion possibilities while retaining the existing improvements. The property presents potential to add approximately five additional units, or redevelop for an estimated 9-12 unit project (buyer to complete all due diligence with Washington County).
The location is described as minutes to Nike, Intel, downtown Portland, shopping, restaurants, parks, and public transit, supporting tenant appeal and access to major area employers and amenities.
Set on a generous multi-family zoned lot, the site offers development or expansion possibilities while retaining the existing improvements. The property presents potential to add approximately five additional units, or redevelop for an estimated 9-12 unit project (buyer to complete all due diligence with Washington County).
The location is described as minutes to Nike, Intel, downtown Portland, shopping, restaurants, parks, and public transit, supporting tenant appeal and access to major area employers and amenities.
Key Highlights
- Remodeled duplex built in 1951 with two 3‑bedroom, 1‑bath units
- 6.2% cap rate supported by current rental income
- Recent upgrades include all new water and sewer line, tankless water heaters, and new electrical panels
Financial Insights For Multifamily LT 5
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 | $55.2k | $22.20 |
| − Vacancy | −$3.2k | −$1.29 |
| EGI | $52.0k | $20.91 |
| − OpEx | −$15.6k | −$6.27 |
| NOI | $36.4k | $14.64 |
2,485 SF · lease $22.20/SF/yr · vacancy 5.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$519.7K
$454.7K – $606.3K
NOI $36,377 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$480.5K
$420.4K – $560.6K
NOI $33,633 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$670.8K
$586.9K – $782.6K
NOI $46,953 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
818
Businesses Nearby
Explore this area
Business Placement
Demographics for 97229, OR
73,602
Population
28,312
Households
2.6
Avg Household Size
38
Median Age
69%
College-Educated
98%
High-School Grad
19.7 sq mi
ZIP Area
3,736
Density / Sq Mi
$159,863
Median Household Income
$83,904
Median Earnings
$1,948
Median Rent
$728,800
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?
Duplex - Remodeled duplex with two 3-bedroom, 1-bath units on a multi-family zoned lot, plus a detached shop.
Where is this duplex located?
The property is located at 13414 NW SHERRY ST Portland, OR.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Remodeled duplex built in 1951 with two 3‑bedroom, 1‑bath units; 6.2% cap rate supported by current rental income; Recent upgrades include all new water and sewer line, tankless water heaters, and new electrical panels
