Renovated Apartment
For Sale
Contact for pricing
2520 SE Madison St, Portland, OR 97214
Turnkey seven-unit apartment building renovated down to the studs in 2013 with updated in-unit amenities.
Property Size3,716 SF
Price / SF$430.57
Days on Market205
Property Features for 2520 SE Madison St
General Information
Standard status
Active
Size
3,716 SF
Property subtype
Multifamily
Zoning
R2.5
Occupancy
100%
Net Operating Income
$99,623
Site & Location
Neighborhood
Buckman Community Association
Additional Details
Multifamily Units
7
Amenities
bike storage
Building Details
Year Built
1905
Year Renovated
2013
Buildings
1
Units
7
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Palo Alto
Listed By:
Robert Johnston · License #01853816
(510) 304-8077
Source:
Crexi
Added: Apr 11
Changed: Oct 31
Last Checked: Nov 1 at 2:27AM
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 Marcus & Millichap - Palo Alto
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Investment Insights
Based on property information with market context.
Three Sisters on Madison is a seven-unit apartment building originally built in 1905 and completely renovated down to the studs in 2013. The property features remodeled units to meet current seismic code requirements, with in-unit washer/dryers, new appliances, and air conditioners in most units (except for the lower east-facing unit). All units are presented as remodeled interior living spaces within a low-maintenance, turnkey configuration.
The building is offered for sale at 2520 SE Madison St in Portland, Oregon. Public remarks also note bike storage for tenant convenience.
The building consists of seven one-bedroom units, making the property a straightforward, resident-focused income asset with updated interiors and in-unit laundry amenities throughout most units.
The building is offered for sale at 2520 SE Madison St in Portland, Oregon. Public remarks also note bike storage for tenant convenience.
The building consists of seven one-bedroom units, making the property a straightforward, resident-focused income asset with updated interiors and in-unit laundry amenities throughout most units.
Key Highlights
- 7 one‑bedroom units in Three Sisters on Madison
- Originally built in 1905; completely renovated down to the studs in 2013
- Units remodeled to current seismic code
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,713
Cap Rate
2.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$954,260
$954.3K
Cap Rate 7%
$681,614
$681.6K
Cap Rate 9%
$530,144
$530.1K
Market Conditions
NOI Build-Up for 3,716 SF
Gross rent
$91.4K $24.60/SF
− Vacancy
−$4.7K −$1.25/SF
EGI
$86.8K $23.35/SF
− OpEx
−$39.0K −$10.51/SF
NOI
$47.7K $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%
$954,260
Cap Rate 7%
$681,614
Cap Rate 9%
$530,144
Alternative Uses
Best Use
Apartment 5plus
$681.6K
$596.4K – $795.2K
NOI $47,713 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$913.1K – $1.22M
NOI $73,048 @ 7.0% cap · market cap 4.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,960
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Turnkey seven-unit apartment building renovated down to the studs in 2013 with updated in-unit amenities.
Where is this apartment building located?
The property is located at 2520 SE Madison St Portland, OR.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 7 one‑bedroom units in Three Sisters on Madison; Originally built in 1905; completely renovated down to the studs in 2013; Units remodeled to current seismic code
