Four-Unit Quadplex with
For Sale
$669,000
1346 SE 43RD Ave, Portland, OR 97215
MultiFamily, Portland, OR
Property Size3,616 SF
Lot Size0.11 Acres
Price / SF$185.01
Days on Market73
Property Features for 1346 SE 43RD Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2.5
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 2
Subdivision
HAWTHORNE
View
City
Elementary school
Glencoe
Middle school
Mt Tabor
High school
Franklin
Directions
43rd and Madison
Standard status
Active
APN
R249718
Size
3,616 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
POWERS TR, BLOCK 4, LOT 5, N 4' OF LOT 6
Tax Annual Amount
13033
Legal Description
POWERS TR, BLOCK 4, LOT 5, N 4' OF LOT 6
Amenities
covered deck
back yard
basement
common area storage
laundry
Building Details
Year built
1910
Floors in Building
2
Number of units
4
Roof type
Composition
Listing Agency:
CORE, Realtors
(971) 271-7174
Listed By:
Conor Finlay · License #201217057
(503) 545-7935
Added: Jul 17
Changed: Sep 22
Last Checked: Sep 27 at 12:06PM
MLS# 485709640
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 four-unit residential property at 1346 SE 43RD Ave contains 3,616 square feet on a 0.11-acre lot. Built in 1910, the building has four bedrooms and four bathrooms, a composition roof, and the character of an early-era Portland residence. The upper units include covered deck areas, while the lower units connect directly to the driveway and yard.
A full basement provides shared storage and laundry facilities. The property also includes a small backyard and off-street parking. Located in east Hawthorne, it is near food, beverage, and shopping options. The property is zoned R2.5 and is identified as a quadplex.
A full basement provides shared storage and laundry facilities. The property also includes a small backyard and off-street parking. Located in east Hawthorne, it is near food, beverage, and shopping options. The property is zoned R2.5 and is identified as a quadplex.
Key Highlights
- Four‑unit property with 3,616 square feet on a 0.11‑acre lot
- Built in 1910 with a composition roof
- Upper two units include covered decks
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,391
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,344
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Quadplex - Four residential units offer generous layouts, private-access features, outdoor space, and shared basement storage and laundry.
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‑unit property with 3,616 square feet on a 0.11‑acre lot; Built in 1910 with a composition roof; Upper two units include covered decks
