32-Unit Apartment
For Sale
$3,500,000
16 SW PORTER ST SW, Portland, OR 97201
Individually metered apartments with on-site coin-operated laundry and a mix of studio and one-bedroom residences.
Property Size10,734 SF
Days on Market53
Property Features for 16 SW PORTER ST SW
General Information
Standard status
Active
Size
10,734 SF
Property subtype
MULTI_FAMILY
Net Operating Income
$237,317
Site & Location
Neighborhood
Homestead
Utilities to Site
Yes
Units
Unit Mix
31 x studio, 1 x 1BR/1BA
Multifamily Units
32
Additional Details
Cap Rate
6.78%
Taxes and HOA fees
Annual Taxes
$18,781
Amenities
coin-op washer and dryer
Building Details
Building Size
10,734 SF
Year Built
1913
Listing Agency:
MORE Realty
Listed By:
Allen Riddle · License #200203103
(503) 740-3786
Source:
Eleeterealestate
Added: Sep 11
Changed: Nov 2
Last Checked: Nov 1 at 2:49PM
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 MORE Realty
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Investment Insights
Based on property information with market context.
This 32-unit apartment property, built in 1913, contains 31 studio apartments and one one-bedroom, one-bathroom unit. Each residence is individually metered. The property includes coin-operated laundry equipment that provides an additional income stream, while the tenant base includes both annual and month-to-month lease arrangements.
Recent capital improvements include a membrane roof installed August 21, 2026, and an ENERGY STAR water heater system added in August 2026. The property is located at 16 SW Porter St SW in Portland, within the Caruthers Neighborhood. The reported capitalization rate is 6.78%.
Recent capital improvements include a membrane roof installed August 21, 2026, and an ENERGY STAR water heater system added in August 2026. The property is located at 16 SW Porter St SW in Portland, within the Caruthers Neighborhood. The reported capitalization rate is 6.78%.
Key Highlights
- 32‑unit apartment complex with 31 studios and 1 one‑bedroom, 1‑bathroom unit
- Built in 1913
- All tenants are individually metered
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$137,824
Cap Rate
3.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,756,480
$2.8M
Cap Rate 7%
$1,968,914
$2.0M
Cap Rate 9%
$1,531,378
$1.5M
Market Conditions
NOI Build-Up for 10,734 SF
Gross rent
$264.1K $24.60/SF
− Vacancy
−$13.5K −$1.25/SF
EGI
$250.6K $23.35/SF
− OpEx
−$112.8K −$10.51/SF
NOI
$137.8K $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%
$2,756,480
Cap Rate 7%
$1,968,914
Cap Rate 9%
$1,531,378
Alternative Uses
Best Use
Apartment 5plus
$1.97M
$1.72M – $2.30M
NOI $137,824 @ 7.0% cap · market cap 3.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.01M
$2.64M – $3.52M
NOI $211,006 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
32
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
6,774
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 - Individually metered apartments with on-site coin-operated laundry and a mix of studio and one-bedroom residences.
Where is this apartment building located?
The property is located at 16 SW PORTER ST SW Portland, OR.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 32‑unit apartment complex with 31 studios and 1 one‑bedroom, 1‑bathroom unit; Built in 1913; All tenants are individually metered
