23-Unit Apartment
1713 SE 9TH ST, Gresham, OR 97080
For Sale
New
$3,850,000
The two-bedroom-focused unit mix is paired with on-site laundry, off-street parking, and private balconies.
Property Size18,200 SF
Days on Market5
Property Features for 1713 SE 9TH ST
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
off-street parking
on-site laundry
private balconies
Building Details
Building Size
Year Built
Listing Agency:
SMI Commercial Real Estate LLC
Listed By:
Jude Soldati · License OR #201244226
(503) 799-4264
Source:
Eleeterealestate
Added: Nov 9
Changed: Nov 12
Last Checked: Nov 12 at 2:15PM
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 SMI Commercial Real Estate LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1973, this 23-unit apartment community in Gresham comprises 22 two-bedroom, one-bath apartments of approximately 800 square feet each and one one-bedroom, one-bath apartment measuring 600 square feet. Residents have access to on-site laundry, off-street parking, and private balconies.
Recent property work includes roof replacement, parking lot improvements, new siding, exterior painting, and stair upgrades. Several apartments have rents below market, and the property information identifies renovation of units as another avenue for rent growth. The community is outside the City of Portland, with access throughout the broader Portland metro area.
Recent property work includes roof replacement, parking lot improvements, new siding, exterior painting, and stair upgrades. Several apartments have rents below market, and the property information identifies renovation of units as another avenue for rent growth. The community is outside the City of Portland, with access throughout the broader Portland metro area.
Key Highlights
- 23 apartments: 22 two‑bedroom, one‑bath units and 1 one‑bedroom, one‑bath unit
- The 22 two‑bedroom apartments are approximately 800 square feet; the one‑bedroom unit is 600 square feet
- Built in 1973
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$217,244
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,344,880
$4.3M
Cap Rate 7%
$3,103,486
$3.1M
Cap Rate 9%
$2,413,822
$2.4M
Market Conditions
NOI Build-Up for 18,200 SF
Gross rent
$410.6K $22.56/SF
− Vacancy
−$15.6K −$0.86/SF
EGI
$395.0K $21.70/SF
− OpEx
−$177.7K −$9.77/SF
NOI
$217.2K $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 Rate 5%
$4,344,880
Cap Rate 7%
$3,103,486
Cap Rate 9%
$2,413,822
Alternative Uses
Best Use
Apartment 5plus
$3.10M
$2.72M – $3.62M
NOI $217,244 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.16M
$3.64M – $4.85M
NOI $291,127 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
23
Residential units
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Explore this area
Business Placement
Demographics for 97080, OR
45,647
Population
17,276
Households
2.6
Avg Household Size
38
Median Age
28%
College-Educated
90%
High-School Grad
21.6 sq mi
ZIP Area
2,113
Density / Sq Mi
$96,218
Median Household Income
$47,562
Median Earnings
$1,596
Median Rent
$485,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Apartment buildings in Multnomah County, OR
Properties on Market for Apartment buildings in Multnomah County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The two-bedroom-focused unit mix is paired with on-site laundry, off-street parking, and private balconies.
Where is this apartment building located?
The property is located at 1713 SE 9TH ST Gresham, OR.
What is the asking price?
The asking price for this property is $3,850,000.
What are key features of this property?
This property features: 23 apartments: 22 two‑bedroom, one‑bath units and 1 one‑bedroom, one‑bath unit; The 22 two‑bedroom apartments are approximately 800 square feet; the one‑bedroom unit is 600 square feet; Built in 1973
