Corner-Lot
For Sale
$499,900
22222 SE ASH ST, Gresham, OR 97030
Two residential units share a detached garage and offer separate utility metering.
Property Size2,108 SF
Lot Size0.19 Acres
Price / SF$238.05
Days on Market16
Property Features for 22222 SE ASH ST
General Information
Standard status
Active
Size
2,108 SF
Total Parking Spaces
6
Lot size
0.19 Acres
Property subtype
MULTI_FAMILY
Zoning
mixed use
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Parking per Unit
3
Additional Details
Asking Price
$499,900
Taxes and HOA fees
Annual Taxes
$4,624
Building Details
Building Size
2,108 SF
Year Built
1957
Buildings
1
Tenancy
Multi
Listing Agency:
Real Broker
(503) 310-9127
Listed By:
Daniela Sardo
(503) 310-9127
Source:
Eleeterealestate
Added: Aug 8
Changed: Aug 23
Last Checked: Aug 23 at 8:02AM
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 Real Broker
Investment Insights
Based on property information with market context.
This duplex contains two 2-bed/1-bath units totaling 2,100 SF, including a 336 SF basement in the rear unit. Each residence has its own portion of a detached double garage, with four additional driveway spaces for six off-street spaces overall. The rear unit includes refreshed LVP flooring, updated interior paint, a gas range, owner-provided laundry appliances and refrigerator, plus an enclosed yard. The front unit has carpeting, washer/dryer hookups and an owner-provided refrigerator. Both units are occupied on a month-to-month basis.
Constructed in 1957 on a .19-acre corner parcel, the property carries mixed-use zoning and sits on a bus route. Mt. Hood Community College and Mt. Hood Medical Center are both a short drive away. Separate gas and electric meters allow residents to cover those utilities, while ownership handles water, sewer and landscaping. Approximately half of the roof was replaced in 2025.
Constructed in 1957 on a .19-acre corner parcel, the property carries mixed-use zoning and sits on a bus route. Mt. Hood Community College and Mt. Hood Medical Center are both a short drive away. Separate gas and electric meters allow residents to cover those utilities, while ownership handles water, sewer and landscaping. Approximately half of the roof was replaced in 2025.
Key Highlights
- Two 2‑bed/1‑bath units totaling 2,100 SF
- Detached double garage plus four driveway spaces; six total off‑street parking spaces
- .19‑acre corner lot with mixed‑use zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,884
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$557,680
$557.7K
Cap Rate 7%
$398,343
$398.3K
Cap Rate 9%
$309,822
$309.8K
Market Conditions
NOI Build-Up for 2,100 SF
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.
Gross rent
$41.6K $19.80/SF
− Vacancy
−$1.7K −$0.83/SF
EGI
$39.8K $18.97/SF
− OpEx
−$12.0K −$5.69/SF
NOI
$27.9K $13.28/SF
Area
Gresham, OR
Vacancy
4.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$557,680
Cap Rate 7%
$398,343
Cap Rate 9%
$309,822
Alternative Uses
Best Use
Multifamily LT 5
$398.3K
$348.6K – $464.7K
NOI $27,884 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$358.1K
$313.3K – $417.8K
NOI $25,067 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$479.9K
$419.9K – $559.9K
NOI $33,592 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,760
Businesses Nearby
Explore this area
Business Placement
Demographics for 97030, OR
39,492
Population
16,500
Households
2.4
Avg Household Size
37
Median Age
21%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
5,266
Density / Sq Mi
$61,793
Median Household Income
$40,352
Median Earnings
$1,604
Median Rent
$418,100
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?
Duplex - Two residential units share a detached garage and offer separate utility metering.
Where is this duplex located?
The property is located at 22222 SE ASH ST Gresham, OR.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two 2‑bed/1‑bath units totaling 2,100 SF; Detached double garage plus four driveway spaces; six total off‑street parking spaces; .19‑acre corner lot with mixed‑use zoning
