Six-Unit Apartment
For Sale
$999,950
1805 NE 8th Ave, Portland, OR 97212
Six one-bedroom residences offer on-site laundry and individual storage within Northeast Portland.
Property Size2,883 SF
Price / SF$346.84
Days on Market70
Property Features for 1805 NE 8th Ave
General Information
Standard status
Active
Size
2,883 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Irvington Community Association
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
6 x 1BR
Multifamily Units
6
Amenities
on-site laundry
personal storage
Building Details
Year Built
1940
Listing Agency:
eXp Realty, LLC
Listed By:
Lillie Barr
(503) 313-8806
Source:
Thesanchezteamoregon
Added: Aug 15
Changed: Oct 16
Last Checked: Oct 21 at 12:53AM
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.
Built in 1940, this apartment property contains six one-bedroom residences totaling 2,883 square feet. The building includes on-site laundry and personal storage areas associated with the residences. Its six-unit configuration provides a straightforward multifamily layout in an established Northeast Portland setting.
The property is located at 1805 NE 8th Ave in Portland, with bus service, dining, coffee, and highway access described nearby. A Home Energy Score of 10 is reported, with the corresponding HES report identified as OR10242478.
The property is located at 1805 NE 8th Ave in Portland, with bus service, dining, coffee, and highway access described nearby. A Home Energy Score of 10 is reported, with the corresponding HES report identified as OR10242478.
Key Highlights
- Six one‑bedroom apartment residences
- 2,883 square feet across six units
- Built in 1940
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,018
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$740,360
$740.4K
Cap Rate 7%
$528,829
$528.8K
Cap Rate 9%
$411,311
$411.3K
Market Conditions
NOI Build-Up for 2,883 SF
Gross rent
$70.9K $24.60/SF
− Vacancy
−$3.6K −$1.25/SF
EGI
$67.3K $23.35/SF
− OpEx
−$30.3K −$10.51/SF
NOI
$37.0K $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%
$740,360
Cap Rate 7%
$528,829
Cap Rate 9%
$411,311
Alternative Uses
Best Use
Apartment 5plus
$528.8K
$462.7K – $617.0K
NOI $37,018 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$809.6K
$708.4K – $944.6K
NOI $56,673 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,776
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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Six one-bedroom residences offer on-site laundry and individual storage within Northeast Portland.
Where is this apartment building located?
The property is located at 1805 NE 8th Ave Portland, OR.
What is the asking price?
The asking price for this property is $999,950.
What are key features of this property?
This property features: Six one‑bedroom apartment residences; 2,883 square feet across six units; Built in 1940
