Queen Anne Victorian
For Sale
$875,000
1842 1848 SE ANKENY St, Portland, OR 97214
MultiFamily, Portland, OR
Property Size4,063 SF
Lot Size0.09 Acres
Price / SF$215.36
Days on Market161
Property Features for 1842 1848 SE ANKENY St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2.5
Bedrooms
2
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bathroom 4, Bathroom 3, Bedroom 1
Elementary school
Buckman
Middle school
Hosford
High school
Cleveland
Directions
SE 20th Ave to Ankeny
Subdivision
_143
Standard status
Active
APN
R123158
Size
4,063 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
BUCKMANS ADD, BLOCK 4, LOT 1 TL 3700
Tax Annual Amount
8062
Legal Description
BUCKMANS ADD, BLOCK 4, LOT 1 TL 3700
Utilities
Heating system
Forced Air
Amenities
hardwood floors
built-ins
modern quartz counters in 2 units
gas ranges
Zen-like garden
coin-op laundry
storage
Building Details
Year built
1884
Floors in Building
3
Number of units
4
Roof type
Composition
Listing Agency:
Rarebird Real Estate
(503) 451-0545
Listed By:
Benjamin Ficker · License #122440
(971) 273-5547
Added: Apr 29
Changed: Sep 28
Last Checked: Oct 6 at 8:06PM
MLS# 669124116
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 fourplex occupies 4,063 square feet on a 0.09-acre parcel and dates to 1884. The property retains detailed period character, including hardwood flooring and built-in features, while two units have modern quartz countertops and gas ranges. Recent structural work, a composition roof, forced-air heating, on-site coin-operated laundry, and storage add practical functionality. A landscaped garden provides outdoor space.
The property is located at 1842–1848 SE Ankeny St in Portland’s close-in Southeast area, alongside the Ankeny greenway bike path. R2.5 zoning applies to the parcel. The building includes four bathrooms, and the existing configuration supports multifamily use.
The property is located at 1842–1848 SE Ankeny St in Portland’s close-in Southeast area, alongside the Ankeny greenway bike path. R2.5 zoning applies to the parcel. The building includes four bathrooms, and the existing configuration supports multifamily use.
Key Highlights
- Fourplex totaling 4,063 square feet on a 0.09‑acre parcel
- Built in 1884 with Queen Anne Victorian architectural character
- Recent structural upgrades and composition 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.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,757
Businesses Nearby
Explore this area
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Multifamily property with hardwood floors, built-ins, and quartz counters in two units.
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: Fourplex totaling 4,063 square feet on a 0.09‑acre parcel; Built in 1884 with Queen Anne Victorian architectural character; Recent structural upgrades and composition roof
