New Carbon-Neutral Multifamily
For Sale
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16111 E Burnside St, Gresham, OR 97233
32-unit, fully leased, carbon-neutral multifamily property in desirable location.
Property Size19,551 SF
Price / SF$214.82
Days on Market253
Property Features for 16111 E Burnside St
General Information
Standard status
Active
Size
19,551 SF
Class
B
Total Parking Spaces
16
Property subtype
Multifamily
Investment Type
Value Add
Net Operating Income
$275,543
Building Details
Year Built
2021
Units
32
Listing Agency:
Kidder Mathews Portland
(503) 221-9900
Listed By:
Jordan Carter · License #OR 200606025
Source:
Crexi
Added: Dec 2, 2025
Changed: Aug 8
Last Checked: Aug 11 at 8:09AM
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 Kidder Mathews Portland
Investment Insights
Based on property information with market context.
This newly constructed, 32-unit, carbon-neutral multifamily community presents a compelling value-add opportunity in a highly desirable, transit-oriented location. The property is fully leased and stands out as a carbon-neutral apartment complex in the Pacific Northwest. Thoughtfully designed for energy efficiency and long-term affordability, the property features solar panels, thermal heating systems, and water-saving appliances. Units range in size from 313 to 511 square feet and include a mix of studio layouts. Each unit is equipped with modern amenities featuring solid wood cabinets, granite counter tops, flush mount sinks, and triple-pane windows. Ground-floor street-facing units also offer private street access and an outdoor patio space. Rents average $1,267 per month with all utilities, including internet, covered in the rent. Located directly adjacent to a MAX Light Rail station, the property offers residents convenient access to major employment centers throughout the region. Amenities include a rainwater harvesting system, solar-paneled roof, community raised-bed gardens, onsite parking, and two ground-floor retail spaces at the building's entrance. Additionally, the building includes a 1,741 square foot daylight basement space that can serve as an office, or counseling or community space. Positioned along Burnside Street, the property provides excellent visibility and accessibility. It is located just steps from the 162nd Avenue MAX Light Rail Station, providing residents with a quick and convenient transit connection to Downtown Portland, Gresham, and the greater metropolitan area. The property enjoys easy access to nearby thoroughfares.
Key Highlights
- Carbon‑neutral apartment complex in a desirable, transit‑oriented location directly adjacent to a MAX Light Rail station.
- Fully leased, newly constructed (2021), 32‑unit multifamily community.
- Modern units feature solid wood cabinets, granite countertops, flush mount sinks, and triple‑pane windows; ground‑floor units boast private street access and patios.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$233,370
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,667,400
$4.7M
Cap Rate 7%
$3,333,857
$3.3M
Cap Rate 9%
$2,593,000
$2.6M
Market Conditions
NOI Build-Up for 19,551 SF
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.
Gross rent
$441.1K $22.56/SF
− Vacancy
−$16.8K −$0.86/SF
EGI
$424.3K $21.70/SF
− OpEx
−$190.9K −$9.77/SF
NOI
$233.4K $11.94/SF
Area
Gresham, OR
Vacancy
3.80%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,667,400
Cap Rate 7%
$3,333,857
Cap Rate 9%
$2,593,000
Alternative Uses
Best Use
Apartment 5plus
$3.33M
$2.92M – $3.89M
NOI $233,370 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.47M
$3.91M – $5.21M
NOI $312,738 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
618
Businesses Nearby
Explore this area
Business Placement
Demographics for 97233, OR
41,625
Population
14,844
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
80%
High-School Grad
4.6 sq mi
ZIP Area
9,049
Density / Sq Mi
$54,886
Median Household Income
$37,216
Median Earnings
$1,352
Median Rent
$385,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 32-unit, fully leased, carbon-neutral multifamily property in desirable location.
Where is this apartment building located?
The property is located at 16111 E Burnside St Gresham, OR.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: Carbon‑neutral apartment complex in a desirable, transit‑oriented location directly adjacent to a MAX Light Rail station.; Fully leased, newly constructed (2021), 32‑unit multifamily community.; Modern units feature solid wood cabinets, granite countertops, flush mount sinks, and triple‑pane windows; ground‑floor units boast private street access and patios.
