Five-Unit Apartment
For Sale
$699,999
1925 SE ALDER ST, Portland, OR 97214
Built in 1890 with one two-bedroom and four one-bedroom units, central forced-air heat, on-site laundry, and off-street parking.
Days on Market13
Property Features for 1925 SE ALDER ST
General Information
Standard status
Active
Property subtype
MULTI_FAMILY
Units
Unit Mix
1 x 2BR, 4 x 1BR
Multifamily Units
5
Amenities
high ceilings
central forced-air heating
private storage
on-site laundry
large backyard space
Building Details
Building Size
3,075 SF
Year Built
1890
Listing Agency:
Windermere Realty Trust
(503) 754-1930
Listed By:
Reuben Schug · License #200611244
(503) 754-1930
Source:
Eleeterealestate
Added: Jul 22
Changed: Jul 31
Last Checked: Aug 2 at 11:48AM
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 Windermere Realty Trust
Investment Insights
Based on property information with market context.
Five-unit multifamily property built in 1890, offering a compact unit mix of one two-bedroom apartment and four one-bedroom apartments. Interiors include high ceilings, central forced-air heating, private storage, and on-site laundry for tenant convenience. Off-street parking and a large backyard space support day-to-day livability.
The property benefits from recent capital improvements, including a newer roof and the completion of a fully renovated two-bedroom unit in 2025. This combination of upgrades and vintage character is designed to appeal to renters seeking housing in Portland’s Buckman neighborhood, with walkable access to neighborhood amenities, parks, grocery stores, restaurants, and downtown Portland employment centers.
The layout and tenant amenities make the building straightforward to operate as an owner-occupied or investment rental, with a practical mix of one- and two-bedroom homes.
The property benefits from recent capital improvements, including a newer roof and the completion of a fully renovated two-bedroom unit in 2025. This combination of upgrades and vintage character is designed to appeal to renters seeking housing in Portland’s Buckman neighborhood, with walkable access to neighborhood amenities, parks, grocery stores, restaurants, and downtown Portland employment centers.
The layout and tenant amenities make the building straightforward to operate as an owner-occupied or investment rental, with a practical mix of one- and two-bedroom homes.
Key Highlights
- Five units: one two‑bedroom and four one‑bedroom apartments
- Built in 1890 with high ceilings throughout
- Central forced‑air heating plus private storage for tenants
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 | $75.6k | $24.60 |
| − Vacancy | −$3.9k | −$1.25 |
| EGI | $71.8k | $23.35 |
| − OpEx | −$32.3k | −$10.51 |
| NOI | $39.5k | $12.84 |
3,075 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$564.0K
$493.5K – $658.1K
NOI $39,483 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$863.5K
$755.6K – $1.01M
NOI $60,448 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
3,585
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Built in 1890 with one two-bedroom and four one-bedroom units, central forced-air heat, on-site laundry, and off-street parking.
Where is this apartment building located?
The property is located at 1925 SE ALDER ST Portland, OR.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: Five units: one two‑bedroom and four one‑bedroom apartments; Built in 1890 with high ceilings throughout; Central forced‑air heating plus private storage for tenants
