Renovated 7-Unit Multifamily
For Sale
Contact for pricing
2520 SE Madison St, Portland, OR 97214
Seven-unit multifamily property built in 1905, featuring renovated interiors with updated fixtures and select units with heated floors.
Property Size3,716 SF
Lot Size0.17 Acres
Price / SF$430.57
Days on Market15
Property Features for 2520 SE Madison St
General Information
Standard status
Active
Size
3,716 SF
Lot size
0.17 Acres
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
7
Amenities
stainless steel appliances
updated fixtures
large windows
heated flooring
in-unit laundry
Building Details
Year Built
1905
Listing Agency:
Marcus & Millichap - Palo Alto
(650) 391-1700
Listed By:
Robert Johnston · License #01853816
Source:
Crexi
Added: Jul 20
Changed: Jul 29
Last Checked: Aug 2 at 4:39PM
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
Investment Insights
Based on property information with market context.
This renovated 7-unit multifamily building was originally built in 1905 and includes approximately 3,716 square feet of gross building area. The unit mix includes one-bedroom floor plans with stainless steel appliances, updated fixtures with modern finishes, and large windows for natural light. Select units offer heated flooring and in-unit laundry. The property also reflects significant capital improvements, including new plumbing, electrical, and foundation work.
Located at 2520 SE Madison St in Portland, OR 97214, the property is described as highly walkable and bike-friendly, with a Walk Score of 92 and a Bike Score of 93. The area is characterized by local neighborhood retail and dining options, with nearby recreational access noted as Sewallcrest Park being just blocks away. The remarks also indicate convenient access to major transportation corridors including Interstate 5, Interstate 84, and Oregon State Route 99E.
For buyers seeking a fully renovated historic multifamily asset, this offering combines renovated interiors with substantial systems and structural improvements while maintaining a consistent one-bedroom configuration across the building.
Located at 2520 SE Madison St in Portland, OR 97214, the property is described as highly walkable and bike-friendly, with a Walk Score of 92 and a Bike Score of 93. The area is characterized by local neighborhood retail and dining options, with nearby recreational access noted as Sewallcrest Park being just blocks away. The remarks also indicate convenient access to major transportation corridors including Interstate 5, Interstate 84, and Oregon State Route 99E.
For buyers seeking a fully renovated historic multifamily asset, this offering combines renovated interiors with substantial systems and structural improvements while maintaining a consistent one-bedroom configuration across the building.
Key Highlights
- 7‑unit multifamily property built in 1905 with approximately 3,716 SF gross building area
- Located on a 7,577 SF parcel
- Select units feature heated flooring and in‑unit laundry
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $91.4k | $24.60 |
| − Vacancy | −$4.7k | −$1.25 |
| EGI | $86.8k | $23.35 |
| − OpEx | −$39.0k | −$10.51 |
| NOI | $47.7k | $12.84 |
3,716 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
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.
Property Analytics
Current Use
Lease Details
7
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,960
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit multifamily property built in 1905, featuring renovated interiors with updated fixtures and select units with heated floors.
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‑unit multifamily property built in 1905 with approximately 3,716 SF gross building area; Located on a 7,577 SF parcel; Select units feature heated flooring and in‑unit laundry
