6-Unit Apartment
1711 SE Morrison ST, Portland, OR 97214
For Sale
New
$2,279,900
Two-story homes feature private entrances, individual outdoor areas and in-unit laundry spaces.
Property Size5,476 SF
Price / SF$416.34
Days on Market4
Property Features for 1711 SE Morrison ST
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Stories
Listing Agency:
Exp Realty, LLC
(503) 881-2815
Listed By:
Realty Portland Team
(503) 966-4371
Source:
Realtyportland
Added: Nov 4
Changed: Nov 6
Last Checked: Nov 6 at 8:20AM
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 Exp Realty, LLC
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Investment Insights
Based on property information with market context.
This six-home apartment property totals 5,476 square feet, with each residence arranged across two stories. Every home includes two bedrooms, two full bathrooms, a main-level powder room and an upstairs laundry area. The two front residences have two ensuite bedrooms; the four rear homes each include one ensuite bedroom and a second bedroom served by a hall bathroom. Mini-split systems provide heating and cooling. Five patios and one covered deck serve the homes, and the listed year built is 2026.
The property is on SE Morrison Street in Portland’s Buckman neighborhood. Market of Choice, Nostrana, Revolution Hall and Colonel Summers Park are identified nearby. Line 15 bus service connects the area with downtown and Nob Hill, while the Eastbank Esplanade provides riverfront recreation and bicycle connections across the river. The property information lists Walk and Bike scores of 95 each.
The property is on SE Morrison Street in Portland’s Buckman neighborhood. Market of Choice, Nostrana, Revolution Hall and Colonel Summers Park are identified nearby. Line 15 bus service connects the area with downtown and Nob Hill, while the Eastbank Esplanade provides riverfront recreation and bicycle connections across the river. The property information lists Walk and Bike scores of 95 each.
Key Highlights
- Six residences totaling 5,476 square feet
- Each home has 2 bedrooms, 2 full bathrooms and a main‑floor powder room
- Two front homes have dual ensuite bedrooms; four rear homes include one ensuite and a hall bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,312
Cap Rate
3.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,406,240
$1.4M
Cap Rate 7%
$1,004,457
$1.0M
Cap Rate 9%
$781,244
$781.2K
Market Conditions
NOI Build-Up for 5,476 SF
Gross rent
$134.7K $24.60/SF
− Vacancy
−$6.9K −$1.25/SF
EGI
$127.8K $23.35/SF
− OpEx
−$57.5K −$10.51/SF
NOI
$70.3K $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%
$1,406,240
Cap Rate 7%
$1,004,457
Cap Rate 9%
$781,244
Alternative Uses
Best Use
Apartment 5plus
$1.00M
$878.9K – $1.17M
NOI $70,312 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.79M
NOI $107,646 @ 7.0% cap · market cap 4.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
9,855
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
$733,200
Median Home Value
Market
Average Price Trend$/SF for Apartment buildings in Portland, OR
Properties on Market for Apartment buildings in Portland
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-story homes feature private entrances, individual outdoor areas and in-unit laundry spaces.
Where is this apartment building located?
The property is located at 1711 SE Morrison ST Portland, OR.
What is the asking price?
The asking price for this property is $2,279,900.
What are key features of this property?
This property features: Six residences totaling 5,476 square feet; Each home has 2 bedrooms, 2 full bathrooms and a main‑floor powder room; Two front homes have dual ensuite bedrooms; four rear homes include one ensuite and a hall bathroom
