Restored
For Sale
$775,000
138 Ne 18th Ave, Portland, OR 97232
Separate gas, electrical, and water meters serve the property.
Property Size3,281 SF
Price / SF$236.21
Days on Market11
Property Features for 138 Ne 18th Ave
General Information
Standard status
Active
Size
3,281 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
1907
Buildings
1
Tenancy
Single
Listing Agency:
Windermere Realty Trust
Listed By:
Dan Volkmer · License #780101749
(503) 220-1144
Source:
Viewportlandrealestate
Added: Oct 5
Changed: Oct 15
Last Checked: Oct 14 at 11:10PM
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 Windermere Realty Trust
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1907, this duplex has been restored and includes enhanced finishes and details in the main-floor unit. The property measures 3,281 in the provided size data. Separate gas, electrical, and water meters serve the building. The upper unit is currently rented.
Key Highlights
- Duplex built in 1907
- Separate gas, electrical, and water meters
- Upper unit is currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,723
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$914,460
$914.5K
Cap Rate 7%
$653,186
$653.2K
Cap Rate 9%
$508,033
$508.0K
Market Conditions
NOI Build-Up for 3,281 SF
Gross rent
$68.9K $21.00/SF
− Vacancy
−$3.6K −$1.09/SF
EGI
$65.3K $19.91/SF
− OpEx
−$19.6K −$5.97/SF
NOI
$45.7K $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%
$914,460
Cap Rate 7%
$653,186
Cap Rate 9%
$508,033
Alternative Uses
Best Use
Multifamily LT 5
$653.2K
$571.5K – $762.1K
NOI $45,723 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$601.8K
$526.6K – $702.1K
NOI $42,128 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$921.4K
$806.2K – $1.07M
NOI $64,497 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,601
Businesses Nearby
Explore this area
Business Placement
Demographics for 97232, OR
15,382
Population
9,594
Households
1.6
Avg Household Size
37
Median Age
65%
College-Educated
96%
High-School Grad
1.9 sq mi
ZIP Area
8,096
Density / Sq Mi
$71,278
Median Household Income
$49,794
Median Earnings
$1,584
Median Rent
$801,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Separate gas, electrical, and water meters serve the property.
Where is this duplex located?
The property is located at 138 Ne 18th 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: Duplex built in 1907; Separate gas, electrical, and water meters; Upper unit is currently rented
