Queen Anne Victorian
For Sale
$875,000
1842 1848 Se Ankeny St, Portland, OR 97214
Historic multifamily property with structural improvements, shared laundry, storage, and landscaped outdoor space.
Property Size4,063 SF
Price / SF$215.36
Days on Market87
Property Features for 1842 1848 Se Ankeny St
General Information
Standard status
Active
Size
4,063 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Amenities
hardwood floors
built-ins
modern quartz counters
gas ranges
zen-like garden
coin-op laundry
storage
Building Details
Year Built
1884
Buildings
1
Construction
Queen Anne Victorian
Listing Agency:
Rarebird Real Estate
Listed By:
Benjamin Ficker · License #122440
(503) 270-5700
Source:
Rosecityrealtygroup
Added: Jul 21
Changed: Oct 15
Last Checked: Oct 7 at 2:44PM
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 Rarebird Real Estate
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Investment Insights
Based on property information with market context.
Built in 1884, this four-unit Queen Anne Victorian property offers 4,063 square feet with period character and practical updates. Architectural features include hardwood floors and built-in cabinetry, while two units feature quartz countertops and gas ranges. Recent structural work and a newer roof add to the documented improvements. Shared amenities include coin-operated laundry, storage, and a landscaped garden.
Located at 1842–1848 SE Ankeny St in Portland, the property fronts the Ankeny greenway bike path and sits in the close-in Southeast area. The four-unit configuration, historic detailing, and combination of updated interior finishes with shared utility spaces define the asset’s physical profile.
Located at 1842–1848 SE Ankeny St in Portland, the property fronts the Ankeny greenway bike path and sits in the close-in Southeast area. The four-unit configuration, historic detailing, and combination of updated interior finishes with shared utility spaces define the asset’s physical profile.
Key Highlights
- Four‑unit property with 4,063 SF
- Queen Anne Victorian architecture dating to 1884
- Recent structural upgrades and newer roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,620
Cap Rate
6.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,132,400
$1.1M
Cap Rate 7%
$808,857
$808.9K
Cap Rate 9%
$629,111
$629.1K
Market Conditions
NOI Build-Up for 4,063 SF
Gross rent
$85.3K $21.00/SF
− Vacancy
−$4.4K −$1.09/SF
EGI
$80.9K $19.91/SF
− OpEx
−$24.3K −$5.97/SF
NOI
$56.6K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,132,400
Cap Rate 7%
$808,857
Cap Rate 9%
$629,111
Alternative Uses
Best Use
Multifamily LT 5
$808.9K
$707.8K – $943.7K
NOI $56,620 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$745.3K
$652.1K – $869.5K
NOI $52,169 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$1.14M
$998.4K – $1.33M
NOI $79,869 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,757
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Historic multifamily property with structural improvements, shared laundry, storage, and landscaped outdoor space.
Where is this quadplex located?
The property is located at 1842 1848 Se Ankeny St Portland, OR.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Four‑unit property with 4,063 SF; Queen Anne Victorian architecture dating to 1884; Recent structural upgrades and newer roof
