Seven-Unit Apartment
For Sale
$1,500,000
1804 NE 14th Avenue and 1407 NE Schuyler Street, Portland, OR 97212
Seven-unit property built in 1909 with extensive renovations and full occupancy, professionally managed for steady operations.
Property Size4,211 SF
Days on Market109
Property Features for 1804 NE 14th Avenue and 1407 NE Schuyler Street
General Information
Standard status
Active
Size
4,211 SF
Property subtype
Multifamily
Site & Location
Neighborhood
Irvington Community Association
Building Details
Building Size
4,211 SF
Year Built
1909
Listing Agency:
Norris & Stevens, Inc. - Corporate
Listed By:
Raymond Duchek · License #970300314
(503) 225-8492
Source:
Tcnworldwide
Added: Jul 17
Changed: Oct 30
Last Checked: Nov 1 at 4:42AM
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 Norris & Stevens, Inc. - Corporate
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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.
Irvington Seven is a seven-unit apartment building originally constructed in 1909 and extensively renovated throughout. The property is fully occupied and has an established operating history, with experienced professional management in place to support day-to-day operations.
The building is located at 1804 NE 14th Avenue and 1407 NE Schuyler Street in Portland. Residents have walkable access to NE Broadway, Fremont Street, the Lloyd District, public transit, and nearby dining and shopping, placing the property close to major employment centers.
The building is located at 1804 NE 14th Avenue and 1407 NE Schuyler Street in Portland. Residents have walkable access to NE Broadway, Fremont Street, the Lloyd District, public transit, and nearby dining and shopping, placing the property close to major employment centers.
Key Highlights
- Seven‑unit multifamily property built in 1909 with extensive renovations
- Fully occupied (7 units) with an immediate income stream
- Professionally managed asset with management in place for operational efficiency
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,069
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,081,380
$1.1M
Cap Rate 7%
$772,414
$772.4K
Cap Rate 9%
$600,767
$600.8K
Market Conditions
NOI Build-Up for 4,211 SF
Gross rent
$103.6K $24.60/SF
− Vacancy
−$5.3K −$1.25/SF
EGI
$98.3K $23.35/SF
− OpEx
−$44.2K −$10.51/SF
NOI
$54.1K $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%
$1,081,380
Cap Rate 7%
$772,414
Cap Rate 9%
$600,767
Alternative Uses
Best Use
Apartment 5plus
$772.4K
$675.9K – $901.2K
NOI $54,069 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,779 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
3,959
Businesses Nearby
Explore this area
Business Placement
Demographics for 97212, OR
26,568
Population
12,064
Households
2.2
Avg Household Size
40
Median Age
70%
College-Educated
98%
High-School Grad
2.7 sq mi
ZIP Area
9,840
Density / Sq Mi
$128,098
Median Household Income
$65,836
Median Earnings
$1,790
Median Rent
$824,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit property built in 1909 with extensive renovations and full occupancy, professionally managed for steady operations.
Where is this apartment building located?
The property is located at 1804 NE 14th Avenue and 1407 NE Schuyler Street Portland, OR.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Seven‑unit multifamily property built in 1909 with extensive renovations; Fully occupied (7 units) with an immediate income stream; Professionally managed asset with management in place for operational efficiency
