Craftsman Duplex with Oversized
New
For Sale
$699,000
2326 Ne 48th Ave, Portland, OR 97213
Two separate living units include laundry appliances, with parking for up to five vehicles.
Property Size3,337 SF
Price / SF$209.47
Days on Market6
Property Features for 2326 Ne 48th Ave
General Information
Standard status
Active
Size
3,337 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
fireplace
washer/dryer units
Building Details
Year Built
1921
Buildings
1
Construction
Craftsman
Listing Agency:
Keller Williams PDX Central
Listed By:
C. Morgan Davis · License #960500095
(503) 548-4848
Source:
Viewportlandrealestate
Added: Sep 30
Changed: Oct 3
Last Checked: Oct 5 at 7:11PM
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 Keller Williams PDX Central
Investment Insights
Based on property information with market context.
Built in 1921, this 3,337-square-foot Craftsman duplex has a main-floor residence and an upper-level unit. The main unit features hardwood floors, a fireplace, an office area, two bedrooms, and a dining room with a built-in hutch. Its kitchen has quartz counters and updated flooring. The upstairs unit offers fir floors, a kitchen, an updated bathroom, and storage. Both units include washer and dryer appliances, and all appliances are included in the sale. An unfinished basement has an exterior entrance and high ceiling.
An oversized garage and large driveway accommodate up to five vehicles. The property also has a newer gas furnace and air conditioning, both installed two years ago, a roof dating to 2014, and landscaped front and rear yards.
An oversized garage and large driveway accommodate up to five vehicles. The property also has a newer gas furnace and air conditioning, both installed two years ago, a roof dating to 2014, and landscaped front and rear yards.
Key Highlights
- 3,337‑square‑foot duplex built in 1921
- Main‑floor unit has two bedrooms, a fireplace, office area, and built‑in dining room hutch
- Upper unit includes a kitchen, updated bathroom, fir floors, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,503
Cap Rate
6.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$930,060
$930.1K
Cap Rate 7%
$664,329
$664.3K
Cap Rate 9%
$516,700
$516.7K
Market Conditions
NOI Build-Up for 3,337 SF
Gross rent
$70.1K $21.00/SF
− Vacancy
−$3.6K −$1.09/SF
EGI
$66.4K $19.91/SF
− OpEx
−$19.9K −$5.97/SF
NOI
$46.5K $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%
$930,060
Cap Rate 7%
$664,329
Cap Rate 9%
$516,700
Alternative Uses
Best Use
Multifamily LT 5
$664.3K
$581.3K – $775.1K
NOI $46,503 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$612.1K
$535.6K – $714.1K
NOI $42,847 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$937.1K
$820.0K – $1.09M
NOI $65,598 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,768
Businesses Nearby
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Business Placement
Demographics for 97213, OR
31,260
Population
14,971
Households
2.1
Avg Household Size
40
Median Age
61%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
7,815
Density / Sq Mi
$95,801
Median Household Income
$56,941
Median Earnings
$1,490
Median Rent
$609,100
Median Home Value
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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?
Duplex - Two separate living units include laundry appliances, with parking for up to five vehicles.
Where is this duplex located?
The property is located at 2326 Ne 48th Ave Portland, OR.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 3,337‑square‑foot duplex built in 1921; Main‑floor unit has two bedrooms, a fireplace, office area, and built‑in dining room hutch; Upper unit includes a kitchen, updated bathroom, fir floors, and storage
