Multifamily Income
1607 NE 26TH Ave Portland, OR 97232
New
For Sale
$1,150,000
MULTI_FAMILY - Portland, OR
Property Size3,826 SF
Lot Size0.12 Acres
Price / SF$300.58
Days on Market3
Property Features for 1607 NE 26TH Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R2.5
- Bedrooms
- 7
- Bathrooms
- 10
- Rooms
- Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 10, Bathroom 4, Bedroom 6, Bathroom 9, Bathroom 3, Bathroom 5, Bedroom 7, Bathroom 6, Bedroom 5, Bathroom 7, Bathroom 2, Bathroom 8, Bedroom 4, Bedroom 3
- Standard status
- Active
- APN
- R128171
- Size
- 3,826 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Description
- CARTERS ADD TO E P, BLOCK 5, LOT 8
- Tax Annual Amount
- 11169
Utilities
- Cooling system
- Wall Unit(s)
Building Details
- Year built
- 1968
- Floors in Building
- 2
- Number of units
- 5
- Roof type
- Composition
Listing Agency:
Windermere Realty Trust
(503) 284-7755
Listed By:
Patrick Williams · License #40199
(360) 921-5661
Added: Jul 21
Changed: Jul 22
Last Checked: Jul 23 at 9:06PM
MLS# 761561246
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.
Investment Insights
Based on property information with market context.
This small multifamily income property includes on-site laundry facilities and additional storage for each unit. The building has solid surface flooring and electric Cadet heating in all units. Off-street parking is provided. Water and garbage are included, and several recent exterior and site improvements are noted, including a roof replacement in June 2025 and driveway asphalt work in 2017.
The property is located in Portland’s Sullivan’s Gulch/Hollywood area, one block off NE Broadway, with access to nearby shopping, dining, and entertainment. It is within blocks of Fred Meyer and New Seasons and is described as close to bus and MAX lines and I-84.
Zoning is listed as R2.5, supporting multifamily residential use within the area’s established framework.
The property is located in Portland’s Sullivan’s Gulch/Hollywood area, one block off NE Broadway, with access to nearby shopping, dining, and entertainment. It is within blocks of Fred Meyer and New Seasons and is described as close to bus and MAX lines and I-84.
Zoning is listed as R2.5, supporting multifamily residential use within the area’s established framework.
Key Highlights
- Year built 1968 small complex in Sullivan’s Gulch, one block off NE Broadway
- Roof replaced June 2025; composition roof and off‑street parking
- On‑site laundry facilities plus additional storage for each unit
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $94.1k | $24.60 |
| − Vacancy | −$4.8k | −$1.25 |
| EGI | $89.3k | $23.35 |
| − OpEx | −$40.2k | −$10.51 |
| NOI | $49.1k | $12.84 |
3,826 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$701.8K
$614.1K – $818.8K
NOI $49,126 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$940.1K – $1.25M
NOI $75,210 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Small residential income complex with on-site laundry, individual unit storage, and off-street parking.
Where is this apartment building located?
The property is located at 1607 NE 26TH Ave Portland, OR.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Year built 1968 small complex in Sullivan’s Gulch, one block off NE Broadway; Roof replaced June 2025; composition roof and off‑street parking; On‑site laundry facilities plus additional storage for each unit
