6-Unit Apartment
For Sale
$2,170,000
7070 N MONTANA AVE, Portland, OR 97217
Apartments feature in-unit laundry, mini-split heating and cooling, and private outdoor spaces in select units.
Property Size6,792 SF
Price / SF$319.49
Days on Market619
Property Features for 7070 N MONTANA AVE
General Information
Standard status
Active
Size
6,792 SF
Property subtype
MULTI_FAMILY
Occupancy
100%
Site & Location
Neighborhood
Arbor Lodge
Public Transit
Yes
Additional Details
Multifamily Units
6
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$21,299
Amenities
EnergyStar rated appliances
quartz and marble finishes
luxury vinyl plank flooring
washer and dryer in every unit
built-in dishwashers and microwaves
Navien tankless water heater
Daikin mini-split heat & AC
secure front door and gate entries
attached decks
front patios and backyard space
ADA-compliant unit
Building Details
Building Size
6,792 SF
Year Built
2019
Buildings
1
Listing Agency:
Keller Williams Sunset Corridor
Listed By:
Taya Mower · License #200709135
(503) 481-6252
Source:
Hustlehearthomes
Added: Feb 22, 2025
Changed: Nov 2
Last Checked: Oct 31 at 6:53PM
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 Keller Williams Sunset Corridor
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Investment Insights
Based on property information with market context.
Built in 2019, this six-unit apartment property combines individual outdoor areas with modern interior finishes. Each apartment has a washer and dryer, Energy Star-rated appliances, a built-in dishwasher and microwave, and Daikin mini-split heating and air conditioning. Quartz and marble finishes, luxury vinyl plank flooring, and a Navien tankless water heater are among the building’s features. One apartment is ADA-compliant. Upper-floor residences have attached decks, while ground-floor units 101 and 102 include front patios and backyard space. Secure entry is provided at the building’s front door and gate. The property is fully occupied.
The property is near the MAX Yellow Line, University of Portland, Adidas headquarters, Peninsula Park, Kenton District, and New Seasons Market.
The property is near the MAX Yellow Line, University of Portland, Adidas headquarters, Peninsula Park, Kenton District, and New Seasons Market.
Key Highlights
- Six apartment units; built in 2019
- 100% occupancy
- One ADA‑compliant apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,209
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,744,180
$1.7M
Cap Rate 7%
$1,245,843
$1.2M
Cap Rate 9%
$968,989
$969.0K
Market Conditions
NOI Build-Up for 6,792 SF
Gross rent
$167.1K $24.60/SF
− Vacancy
−$8.5K −$1.25/SF
EGI
$158.6K $23.35/SF
− OpEx
−$71.4K −$10.51/SF
NOI
$87.2K $12.84/SF
Area
Portland, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,744,180
Cap Rate 7%
$1,245,843
Cap Rate 9%
$968,989
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.09M – $1.45M
NOI $87,209 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,515 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
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Business Placement
Demographics for 97217, OR
36,086
Population
17,038
Households
2.1
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
11.1 sq mi
ZIP Area
3,251
Density / Sq Mi
$100,387
Median Household Income
$56,790
Median Earnings
$1,789
Median Rent
$569,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartments feature in-unit laundry, mini-split heating and cooling, and private outdoor spaces in select units.
Where is this apartment building located?
The property is located at 7070 N MONTANA AVE Portland, OR.
What is the asking price?
The asking price for this property is $2,170,000.
What are key features of this property?
This property features: Six apartment units; built in 2019; 100% occupancy; One ADA‑compliant apartment
