Northeast Portland Six-Plex
For Sale
$1,090,000
1805 NE 8TH Ave, Portland, OR 97212
MULTI_FAMILY - Portland, OR
Property Size2,883 SF
Lot Size0.12 Acres
Price / SF$378.08
Days on Market623
Property Features for 1805 NE 8TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM3
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1
Subdivision
IRVINGTON
Elementary school
Irvington
Middle school
Harriet Tubman
High school
Jefferson
Directions
NE 8th Ave and NE Schuyler
Standard status
Active
APN
R182544
Size
2,883 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
HOLLADAYS ADD, BLOCK 252, LOT 5
Tax Annual Amount
8112
Legal Description
HOLLADAYS ADD, BLOCK 252, LOT 5
Utilities
Heating system
Gravity
Building Details
Year built
1940
Floors in Building
1
Number of units
6
Listing Agency:
eXp Realty, LLC
(888) 814-9613
Listed By:
Lillie Barr
(503) 313-8806
Added: Nov 17, 2024
Changed: Jul 30
Last Checked: Aug 2 at 12:06PM
MLS# 24611974
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.
Investment Insights
Based on property information with market context.
This six-plex is located in the heart of Northeast Portland. Each of the six one-bedroom homes is simple and comfortable, with on-site laundry and personal storage. The property is close to coffee shops, bus lines, restaurants, and the highway. The property has been quietly doing its job for years. The lot size is 0.12 acres. The property size is 2883 square feet. The zoning is RM3. The property is located in Multnomah County, Portland, Oregon, 97212.
Key Highlights
- Prime Northeast Portland location: Walkable to amenities, public transportation, and highway access.
- Solid six‑plex property with long‑term investment potential.
- Six one‑bedroom units, providing consistent rental income.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $70.9k | $24.60 |
| − Vacancy | −$3.6k | −$1.25 |
| EGI | $67.3k | $23.35 |
| − OpEx | −$30.3k | −$10.51 |
| NOI | $37.0k | $12.84 |
2,883 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$528.8K
$462.7K – $617.0K
NOI $37,018 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$809.6K
$708.4K – $944.6K
NOI $56,673 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Solid six-plex in the heart of 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 $1,090,000.
What are key features of this property?
This property features: Prime Northeast Portland location: Walkable to amenities, public transportation, and highway access.; Solid six‑plex property with long‑term investment potential.; Six one‑bedroom units, providing consistent rental income.
