8-Unit Apartment
For Sale
$1,500,000
2507 SE Monroe St, Milwaukie, OR 97222
Single-level multifamily property with updated interiors, newer systems, and full occupancy.
Property Size6,000 SF
Price / SF$250
Days on Market51
Property Features for 2507 SE Monroe St
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 2B/1.1B, 6 x 2B/1B, 1 x 1B/1B
Multifamily Units
8
Additional Details
Cap Rate
5.93%
Building Details
Year Built
1963
Buildings
1
Construction
brick siding
Listing Agency:
Brantley Christianson Real Estate
Listed By:
Chunjuan Ye · License #201230614
(503) 893-9787
Source:
Christiesrealestateevg
Added: Sep 8
Changed: Oct 26
Last Checked: Oct 7 at 4:27PM
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 Brantley Christianson Real Estate
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Investment Insights
Based on property information with market context.
Built in 1963, this single-level apartment property contains 8 units totaling 6,000 square feet. The unit mix includes one 2-bedroom, 1.1-bath residence, six 2-bedroom, 1-bath residences, and one 1-bedroom, 1-bath residence. Six units received remodeling or updates between 2021 and 2023, while all units have new electric panels. Additional improvements include brick siding, a newer roof, and newer kitchen appliances.
The property is located at 2507 SE Monroe St in Milwaukie, near the waterfront and restaurants. A Waldorf school is nearby, and Milwaukie High School is one block away. The building is fully rented and reports a 5.93% cap rate.
The property is located at 2507 SE Monroe St in Milwaukie, near the waterfront and restaurants. A Waldorf school is nearby, and Milwaukie High School is one block away. The building is fully rented and reports a 5.93% cap rate.
Key Highlights
- 8‑unit apartment property with 6,000 square feet of total building area
- Unit mix includes six 2B/1B, one 2B/1.1B, and one 1B/1B residence
- Six units remodeled or updated during 2021‑2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,040
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,540,800
$1.5M
Cap Rate 7%
$1,100,571
$1.1M
Cap Rate 9%
$856,000
$856.0K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$147.6K $24.60/SF
− Vacancy
−$7.5K −$1.25/SF
EGI
$140.1K $23.35/SF
− OpEx
−$63.0K −$10.51/SF
NOI
$77.0K $12.84/SF
Area
Clackamas County, 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%
$1,540,800
Cap Rate 7%
$1,100,571
Cap Rate 9%
$856,000
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$963.0K – $1.28M
NOI $77,040 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,368 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,383
Businesses Nearby
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Business Placement
Demographics for 97222, OR
36,316
Population
16,910
Households
2.1
Avg Household Size
41
Median Age
38%
College-Educated
95%
High-School Grad
8.6 sq mi
ZIP Area
4,223
Density / Sq Mi
$77,441
Median Household Income
$48,298
Median Earnings
$1,592
Median Rent
$465,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Single-level multifamily property with updated interiors, newer systems, and full occupancy.
Where is this apartment building located?
The property is located at 2507 SE Monroe St Milwaukie, OR.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 8‑unit apartment property with 6,000 square feet of total building area; Unit mix includes six 2B/1B, one 2B/1.1B, and one 1B/1B residence; Six units remodeled or updated during 2021‑2023
