University Park Condo in
For Sale
$205,000
1500 SW PARK AVE #303, Portland, OR 97201
Move-in ready condo with parking, storage, and city views.
Property Size597 SF
Price / SF$343.38
Days on Market663
Property Features for 1500 SW PARK AVE #303
General Information
Standard status
Active
Size
597 SF
Property subtype
Condominium
Site & Location
Neighborhood
Portland Downtown
Amenities
Security System
Heat Pump
Dishwasher
Disposal
Free-Standing Range
Free-Standing Refrigerator
Granite
Stainless Steel Appliance
Deck, Patio, Porch
Building Details
Building Size
597 SF
Year Built
1988
Stories
1
Listing Agency:
Keller Williams Realty S.W. Portland
Listed By:
Tomas Navarro · License #981100157
(503) 317-8299
Source:
Kw
Added: Jan 10, 2025
Changed: Oct 29
Last Checked: Nov 1 at 10:56AM
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 Realty S.W. Portland
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Investment Insights
Based on property information with market context.
This University Park condo is situated in the heart of the Cultural District, offering affordable city living with views overlooking Portland's historical Park Blocks. The move-in ready unit features 1 bedroom and 1 bathroom, with a property size of 597 square feet. It includes deeded underground parking and a deeded storage unit. The location provides convenient access to PSU, the Farmer's Market, freeways, the streetcar, Max lines, restaurants, and shopping. Residents can enjoy a private secured courtyard, a fitness center, a shared community room, and a rooftop deck with city views. The building offers safe and secure elevator access from the underground parking garage to the unit. The condo provides easy access to The Schnitzer, the Portland Art Museum, the Keller Auditorium, and other cultural attractions. A washer, dryer, and refrigerator are included.
Key Highlights
- Deeded underground parking and deeded storage unit in a prime location.
- Move‑in ready 1 bedroom, 1 bathroom condo overlooking Portland's historical Park Blocks.
- Enjoy the rooftop deck with city views, private secured courtyard, fitness center, and shared community room.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,665
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$153,300
$153.3K
Cap Rate 7%
$109,500
$109.5K
Cap Rate 9%
$85,167
$85.2K
Market Conditions
NOI Build-Up for 597 SF
Gross rent
$14.7K $24.60/SF
− Vacancy
−$749 −$1.25/SF
EGI
$13.9K $23.35/SF
− OpEx
−$6.3K −$10.51/SF
NOI
$7.7K $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%
$153,300
Cap Rate 7%
$109,500
Cap Rate 9%
$85,167
Alternative Uses
Best Use
Apartment 5plus
$109.5K
$95.8K – $127.8K
NOI $7,665 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$167.7K
$146.7K – $195.6K
NOI $11,736 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
9,790
Businesses Nearby
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Business Placement
Demographics for 97201, OR
17,352
Population
10,748
Households
1.6
Avg Household Size
34
Median Age
67%
College-Educated
95%
High-School Grad
1.9 sq mi
ZIP Area
9,133
Density / Sq Mi
$67,074
Median Household Income
$48,101
Median Earnings
$1,565
Median Rent
$648,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Move-in ready condo with parking, storage, and city views.
Where is this apartment building located?
The property is located at 1500 SW PARK AVE #303 Portland, OR.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Deeded underground parking and deeded storage unit in a prime location.; Move‑in ready 1 bedroom, 1 bathroom condo overlooking Portland's historical Park Blocks.; Enjoy the rooftop deck with city views, private secured courtyard, fitness center, and shared community room.
