Corner Fourplex with Basement
For Sale
$679,900
1705 Southeast Morrison Street, Portland, OR 97214
Four tenant-occupied units in a corner fourplex, featuring raised entry steps and a full basement with exterior access.
Property Size3,407 SF
Price / SF$199.56
Days on Market244
Property Features for 1705 Southeast Morrison Street
General Information
Standard status
Active
Size
3,407 SF
Total Parking Spaces
1
Property subtype
Multi Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1890
Tenancy
Multi
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 597-2444
Source:
Compass
Added: Dec 1, 2025
Changed: Jul 23
Last Checked: Jul 25 at 10:44AM
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 Portland Premiere
Investment Insights
Based on property information with market context.
This corner fourplex was originally built in 1890 and contains four units under one roof. Three units are one bedroom with one bathroom, and the fourth unit is a studio with one bathroom, offering a mix of layouts within the same building. Two of the main level units have high ceilings. Wide concrete steps lead up from the sidewalk to the main entry.
The property sits on an elevated corner lot with a raised site that provides privacy and presence above the street. A full basement with exterior access adds practical storage options. The basement is plumbed with a toilet, and with work to finish it, may offer potential for additional space; buyers should verify feasibility with the City.
The building is served by gas heat, which should be verified by the buyer. There is one off-street parking space located at the back of the property. All four units are currently tenant occupied, and showings are subject to accepted offer and scheduled access.
The property sits on an elevated corner lot with a raised site that provides privacy and presence above the street. A full basement with exterior access adds practical storage options. The basement is plumbed with a toilet, and with work to finish it, may offer potential for additional space; buyers should verify feasibility with the City.
The building is served by gas heat, which should be verified by the buyer. There is one off-street parking space located at the back of the property. All four units are currently tenant occupied, and showings are subject to accepted offer and scheduled access.
Key Highlights
- Fourplex at 1705 SE Morrison St with 4 tenant‑occupied units under one roof
- Unit mix: three 1 bed/1 bath units plus one studio/1 bath
- Two main‑level units with high ceilings
Financial Insights For Multifamily LT 5
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 | $71.5k | $21.00 |
| − Vacancy | −$3.7k | −$1.09 |
| EGI | $67.8k | $19.91 |
| − OpEx | −$20.3k | −$5.97 |
| NOI | $47.5k | $13.94 |
3,407 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$678.3K
$593.5K – $791.3K
NOI $47,479 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$624.9K
$546.8K – $729.1K
NOI $43,746 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$956.8K
$837.2K – $1.12M
NOI $66,974 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,257
Businesses Nearby
Explore this area
Business Placement
Demographics for 97214, OR
28,403
Population
15,948
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
98%
High-School Grad
2.9 sq mi
ZIP Area
9,794
Density / Sq Mi
$86,879
Median Household Income
$55,643
Median Earnings
$1,628
Median Rent
$733,200
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?
Quadplex - Four tenant-occupied units in a corner fourplex, featuring raised entry steps and a full basement with exterior access.
Where is this quadplex located?
The property is located at 1705 Southeast Morrison Street Portland, OR.
What is the asking price?
The asking price for this property is $679,900.
What are key features of this property?
This property features: Fourplex at 1705 SE Morrison St with 4 tenant‑occupied units under one roof; Unit mix: three 1 bed/1 bath units plus one studio/1 bath; Two main‑level units with high ceilings
