32-Unit Apartment
For Sale
$3,500,000
16 SW PORTER St SW, Portland, OR 97201
MultiFamily, Portland, OR
Property Size10,734 SF
Lot Size0.11 Acres
Price / SF$326.07
Days on Market50
Property Features for 16 SW PORTER St SW
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM1
Bedrooms
1
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bathroom 1
Subdivision
Caruthers
View
City
Elementary school
Ainsworth
Middle school
West Sylvan
High school
Lincoln
Directions
W Ross Island Bridge 10, R SW Nato Pkwy,R SW Curry St,R SW First St, R S Porter St
Standard status
Active
APN
R128854
Size
10,734 SF
Lot size
0.11 Acres
Additional Details
Tenant in Place
Yes
Individually Metered Utilities
unspecified utilities
Taxes and HOA fees
Tax Description
CARUTHERS ADD, BLOCK 56, W 46.01' OF LOT 1&2
Tax Annual Amount
18781
Legal Description
CARUTHERS ADD, BLOCK 56, W 46.01' OF LOT 1&2
Amenities
coin-operated laundry
Building Details
Year built
1913
Floors in Building
3
Number of units
32
Roof type
Membrane, Flat
Listing Agency:
MORE Realty
(503) 353-6673
Listed By:
Allen Riddle · License #200203103
(503) 740-3786
Added: Sep 11
Changed: Oct 29
Last Checked: Oct 30 at 12:06AM
MLS# 186056133
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.
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Investment Insights
Based on property information with market context.
This 32-unit apartment property at 16 SW Porter Street includes 31 studio apartments and one one-bedroom, one-bathroom unit. The 10,734-square-foot building was constructed in 1913 and carries RM1 zoning. A membrane flat roof was installed on August 21, 2026, and the property also received an ENERGY STAR water heater system in August 2026.
Individual tenant metering supports unit-level utility allocation. Most occupants are on year-long leases, while 6 tenants rent month to month. On-site coin-operated laundry equipment provides an additional operating feature. The property occupies 0.11 acres in Portland's Caruthers neighborhood, within ZIP Code 97201. Its reported capitalization rate is 6.78%.
Individual tenant metering supports unit-level utility allocation. Most occupants are on year-long leases, while 6 tenants rent month to month. On-site coin-operated laundry equipment provides an additional operating feature. The property occupies 0.11 acres in Portland's Caruthers neighborhood, within ZIP Code 97201. Its reported capitalization rate is 6.78%.
Key Highlights
- 32‑unit apartment property with 31 studios and 1 one‑bedroom, one‑bathroom unit
- 10,734 square feet on 0.11 acres
- RM1 zoning in Portland's Caruthers neighborhood
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.
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Open Analytics
Lease Details
32
Residential units
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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Thirty-one studios and one one-bedroom unit create a compact multifamily configuration with individually metered tenants.
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 property with 31 studios and 1 one‑bedroom, one‑bathroom unit; 10,734 square feet on 0.11 acres; RM1 zoning in Portland's Caruthers neighborhood
