Four-Unit Apartment
For Sale
$669,000
1346 SE 43RD AVE, Portland, OR 97215
Four generously sized residences include shared basement storage and laundry, with select units opening to outdoor areas.
Property Size3,616 SF
Price / SF$185.01
Days on Market109
Property Features for 1346 SE 43RD AVE
General Information
Standard status
Active
Size
3,616 SF
Property subtype
MULTI_FAMILY
Site & Location
Neighborhood
Sunnyside
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$13,032
Amenities
back yard
offstreet parking
covered deck
common area storage
laundry
Building Details
Building Size
3,616 SF
Year Built
1910
Listing Agency:
CORE, Realtors
Listed By:
Conor Finlay · License #201217057
(503) 545-7935
Source:
Leedavies
Added: Jul 17
Changed: Nov 1
Last Checked: Nov 1 at 1:20PM
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 CORE, Realtors
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Investment Insights
Based on property information with market context.
This 1910 four-unit apartment property offers generously sized residences and a full basement with common-area storage and laundry. The upper apartments have covered decks, while the lower units provide direct access to the driveway and yard. A small backyard and off-street parking are also part of the property.
The building is at 1346 SE 43RD AVE in Portland, within the east Hawthorne area. Food, drink, and shopping options are described as walkable from the property.
The building is at 1346 SE 43RD AVE in Portland, within the east Hawthorne area. Food, drink, and shopping options are described as walkable from the property.
Key Highlights
- Four units in a 3,616‑square‑foot building dating to 1910
- Full basement with shared storage and laundry
- Upper units have covered decks; lower units connect directly to the driveway and yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,391
Cap Rate
7.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,007,820
$1.0M
Cap Rate 7%
$719,871
$719.9K
Cap Rate 9%
$559,900
$559.9K
Market Conditions
NOI Build-Up for 3,616 SF
Gross rent
$75.9K $21.00/SF
− Vacancy
−$3.9K −$1.09/SF
EGI
$72.0K $19.91/SF
− OpEx
−$21.6K −$5.97/SF
NOI
$50.4K $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%
$1,007,820
Cap Rate 7%
$719,871
Cap Rate 9%
$559,900
Alternative Uses
Best Use
Multifamily LT 5
$719.9K
$629.9K – $839.9K
NOI $50,391 @ 7.0% cap · market cap 7.53%
Second Best
Apartment 5plus
$663.3K
$580.4K – $773.8K
NOI $46,429 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$1.02M
$888.5K – $1.18M
NOI $71,082 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,344
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four generously sized residences include shared basement storage and laundry, with select units opening to outdoor areas.
Where is this quadplex located?
The property is located at 1346 SE 43RD AVE Portland, OR.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Four units in a 3,616‑square‑foot building dating to 1910; Full basement with shared storage and laundry; Upper units have covered decks; lower units connect directly to the driveway and yard
