6-Home Apartment
New
For Sale
$2,279,900
1711 SE Morrison St, Portland, OR 97214
MultiFamily, Portland, OR
Property Size5,476 SF
Lot Size0.11 Acres
Price / SF$416.34
Days on Market4
Property Features for 1711 SE Morrison St
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
RM2
Bedrooms
6
Bathrooms
9
Full bathrooms
9
Rooms
Bedroom 1, Bedroom 3, Bathroom 7, Bathroom 6, Bedroom 4, Bathroom 5, Bedroom 6, Bathroom 9, Bathroom 8, Bathroom 1, Bathroom 4, Bedroom 5, Bathroom 3, Bedroom 2, Bathroom 2
Subdivision
BUCKMAN
Elementary school
Buckman
Middle school
Hosford
High school
Cleveland
Directions
From SE Belmont St, head north on SE 17th Ave, then turn right onto SE Morrison St.
Standard status
Active
APN
New Construction
Size
5,476 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
BELLEVUE TOWNHOME CONDOMINIUMS, UNITS 1-6, PLAT BK 1342, PGS 1-2
Legal Description
BELLEVUE TOWNHOME CONDOMINIUMS, UNITS 1-6, PLAT BK 1342, PGS 1-2
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Amenities
upstairs laundry
patio
deck
Building Details
Year built
2026
Floors in Building
2
Number of units
6
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: Nov 3
Changed: Nov 6
Last Checked: Nov 6 at 4:06AM
MLS# 371811342
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.
Under construction at 1711 SE Morrison St, this apartment property brings together six two-story homes in a 5,476-square-foot building on a 0.11-acre lot. Each residence has two bedrooms, two full bathrooms, a main-level powder room, an individual entrance, and an upstairs laundry area. Five homes have patios, while the remaining home has a covered deck. Heat-pump systems provide heating and cooling, and the property is zoned RM2.
The Portland location has a Walk Score of 95 and a Bike Score of 95. Market of Choice, Nostrana, Revolution Hall, and Colonel Summers Park are 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 unit mix includes two front residences with ensuite bathrooms in both bedrooms and four rear residences with one ensuite bedroom and a second bedroom served by a hall bathroom. The property is listed for sale and has a 2026 year built designation.
The Portland location has a Walk Score of 95 and a Bike Score of 95. Market of Choice, Nostrana, Revolution Hall, and Colonel Summers Park are 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 unit mix includes two front residences with ensuite bathrooms in both bedrooms and four rear residences with one ensuite bedroom and a second bedroom served by a hall bathroom. The property is listed for sale and has a 2026 year built designation.
Key Highlights
- Six two‑bedroom residences in 5,476 square feet
- RM2 zoning on a 0.11‑acre lot
- Each home has two full bathrooms, a main‑floor powder room, and upstairs laundry
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.
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,257
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - RM2-zoned property comprises two-story residences with separate entrances and private outdoor areas.
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 two‑bedroom residences in 5,476 square feet; RM2 zoning on a 0.11‑acre lot; Each home has two full bathrooms, a main‑floor powder room, and upstairs laundry
