Eight-Unit Apartment Building with
New
For Sale
$1,250,000
1712 SE MAIN ST, Portland, OR 97214
Six one-bedroom homes and two studios are complemented by three private garages and a rear outdoor area.
Property Size5,660 SF
Days on Market7
Property Features for 1712 SE MAIN ST
General Information
Standard status
Active
Size
5,660 SF
Total Parking Spaces
3
Property subtype
MULTI_FAMILY
Units
Unit Mix
6 x 1BR, 2 x studio
Multifamily Units
8
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$14,269
Amenities
private rear courtyard
Building Details
Building Size
5,660 SF
Year Built
1906
Buildings
1
Listing Agency:
Barry Investment Real Estate
Listed By:
Phillip Barry · License #200807134
(503) 593-9707
Source:
Eleeterealestate
Added: Oct 15
Changed: Oct 21
Last Checked: Oct 21 at 2:47AM
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 Barry Investment Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The Medea Apartments is a 1906-built, eight-unit property comprising six one-bedroom apartments and two studios. One-bedroom layouts range from approximately 600 to 900 square feet, while studios measure approximately 400 square feet. The property also includes three private garages and a rear courtyard. Building work includes electrical upgrades, replacement of select heating systems, a newer roof, exterior paint, replacement gutters, common-area improvements, and two 75-gallon water heaters.
At 1702–1712 SE Main Street in Portland’s Buckman neighborhood, the apartments sit between the Hawthorne and Belmont corridors, set back from the area’s primary commercial streets. Nearby neighborhood offerings include restaurants, cafes, shops, services, and entertainment.
At 1702–1712 SE Main Street in Portland’s Buckman neighborhood, the apartments sit between the Hawthorne and Belmont corridors, set back from the area’s primary commercial streets. Nearby neighborhood offerings include restaurants, cafes, shops, services, and entertainment.
Key Highlights
- Eight apartments: six one‑bedroom units and two studios
- One‑bedroom apartments range from approximately 600–900 square feet; studios are approximately 400 square feet
- Three private garages and a rear courtyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,674
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,453,480
$1.5M
Cap Rate 7%
$1,038,200
$1.0M
Cap Rate 9%
$807,489
$807.5K
Market Conditions
NOI Build-Up for 5,660 SF
Gross rent
$139.2K $24.60/SF
− Vacancy
−$7.1K −$1.25/SF
EGI
$132.1K $23.35/SF
− OpEx
−$59.5K −$10.51/SF
NOI
$72.7K $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%
$1,453,480
Cap Rate 7%
$1,038,200
Cap Rate 9%
$807,489
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$908.4K – $1.21M
NOI $72,674 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,263 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
8
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,589
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
Frequently Asked Questions
What type of property is this?
Apartment building - Six one-bedroom homes and two studios are complemented by three private garages and a rear outdoor area.
Where is this apartment building located?
The property is located at 1712 SE MAIN ST Portland, OR.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Eight apartments: six one‑bedroom units and two studios; One‑bedroom apartments range from approximately 600–900 square feet; studios are approximately 400 square feet; Three private garages and a rear courtyard
