Townhouse-Style Multifamily
New
For Sale
$1,489,900
2092 N Watts ST, Portland, OR 97217
New construction pairs private outdoor areas with in-home laundry and mini-split heating and cooling.
Property Size4,204 SF
Price / SF$354.40
Days on Market4
Property Features for 2092 N Watts ST
General Information
Standard status
Active
Size
4,204 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Kenton
Public Transit
Yes
Amenities
mini split heating and cooling
private decks
in home laundry
solid surface countertops
stainless steel appliances
Building Details
Year Built
2026
Listing Agency:
Roffman Real Estate Investments, LLC
Listed By:
Realty Portland Team
(503) 966-4371
Source:
Realtyportland
Added: Oct 20
Changed: Oct 21
Last Checked: Oct 20 at 7:03PM
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 Roffman Real Estate Investments, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Completed in 2026, this 4,204-square-foot multifamily property comprises townhouse-style residences. Homes have bedrooms and full bathrooms on the upper level, with a half bath and open living areas below. Kitchens feature solid surface countertops and stainless steel appliances, and each home has dedicated laundry and mini-split heating and cooling. Private decks and outdoor areas are included; the rear residence has a fenced yard and the community’s largest deck. A one-year builder warranty is also provided.
The property is in Portland’s Kenton neighborhood, minutes from shops and restaurants along N Denver Avenue, Kenton Park and MAX Yellow Line connections.
The property is in Portland’s Kenton neighborhood, minutes from shops and restaurants along N Denver Avenue, Kenton Park and MAX Yellow Line connections.
Key Highlights
- 4,204 square feet of multifamily space, built in 2026
- Townhouse‑style homes have upper‑level bedrooms and full bathrooms, plus a main‑level half bath
- Kitchens include solid surface countertops and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,979
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,079,580
$1.1M
Cap Rate 7%
$771,129
$771.1K
Cap Rate 9%
$599,767
$599.8K
Market Conditions
NOI Build-Up for 4,204 SF
Gross rent
$103.4K $24.60/SF
− Vacancy
−$5.3K −$1.25/SF
EGI
$98.1K $23.35/SF
− OpEx
−$44.2K −$10.51/SF
NOI
$54.0K $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%
$1,079,580
Cap Rate 7%
$771,129
Cap Rate 9%
$599,767
Alternative Uses
Best Use
Apartment 5plus
$771.1K
$674.7K – $899.7K
NOI $53,979 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,641 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
812
Businesses Nearby
Explore this area
Business Placement
Demographics for 97217, OR
36,086
Population
17,038
Households
2.1
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
11.1 sq mi
ZIP Area
3,251
Density / Sq Mi
$100,387
Median Household Income
$56,790
Median Earnings
$1,789
Median Rent
$569,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - New construction pairs private outdoor areas with in-home laundry and mini-split heating and cooling.
Where is this multifamily property located?
The property is located at 2092 N Watts ST Portland, OR.
What is the asking price?
The asking price for this property is $1,489,900.
What are key features of this property?
This property features: 4,204 square feet of multifamily space, built in 2026; Townhouse‑style homes have upper‑level bedrooms and full bathrooms, plus a main‑level half bath; Kitchens include solid surface countertops and stainless steel appliances
