Well-Maintained Fourplex
2531 Northwest Cedar Avenue Redmond, OR 97756
2531 Northwest Cedar Avenue, Redmond, OR, 97756
$1,199,000
For Sale
$1,199,000
Four townhome-style units feature open layouts and include kitchen appliances, washers, and dryers.
Property Size4,848 SF
Price / SF$247.32
Days on Market106
Property Features for 2531 Northwest Cedar Avenue
General Information
- Standard status
- Active
- Size
- 4,848 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 2002
Listing agency
Keller Williams-PDX Central
(503) 548-4848
Listed by
Tami Liesy · License #200108097
(503) 548-4848
Source
Compass
Added: Apr 8 Updated: Jul 21 at 10:09PM Checked: Jul 21 at 10:09PM
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.
This well-maintained fourplex consists of four townhome-style units with open concept floorplans. Each unit includes a full kitchen appliance package, as well as a washer and dryer. Updates vary by unit and include items such as newer appliances, luxury vinyl plank flooring, carpet, interior paint, blinds, baseboards, hardware, and plumbing fixtures. Units 1 and 4 are configured with approximately 2 bedrooms and 2.5 baths, while units 2 and 3 offer approximately 3 bedrooms and 2.5 baths.
The property is situated on an ideal corner lot in a quiet neighborhood setting with sidewalks and well cared for homes. It is described as being close to schools, parks, and trails, with shopping and dining located less than 1.5 miles away.
Units 1 through 3 are currently leased. Unit 4 is available to show by appointment only, and photos of units 1–3 were taken prior to tenant move-in. Please do not disturb tenants.
The property is situated on an ideal corner lot in a quiet neighborhood setting with sidewalks and well cared for homes. It is described as being close to schools, parks, and trails, with shopping and dining located less than 1.5 miles away.
Units 1 through 3 are currently leased. Unit 4 is available to show by appointment only, and photos of units 1–3 were taken prior to tenant move-in. Please do not disturb tenants.
Key Highlights
- Fourplex with 2‑story, townhome‑style units on a corner lot
- Units 1 & 4: approx. 1,100 SF, 2 bedrooms, 2.5 baths; Units 2 & 3: approx. 1,200 SF, 3 bedrooms, 2.5 baths
- Each unit includes kitchen appliances plus a washer and dryer
Local Financial Insights For Multifamily LT 5
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 | $104.7k | $21.60 |
| − Vacancy | −$7.6k | −$1.56 |
| EGI | $97.2k | $20.04 |
| − OpEx | −$29.1k | −$6.01 |
| NOI | $68.0k | $14.03 |
4,848 SF · lease $21.60/SF/yr · vacancy 7.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$971.6K
$850.1K – $1.13M
NOI $68,009 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$887.0K
$776.1K – $1.03M
NOI $62,087 @ 7.0% cap · market cap 5.18%
Theoretical Best
Retail
$1.67M
$1.46M – $1.95M
NOI $116,794 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Four townhome-style units feature open layouts and include kitchen appliances, washers, and dryers.
Where is this quadplex located?
The property is located at 2531 Northwest Cedar Avenue Redmond, OR.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Fourplex with 2‑story, townhome‑style units on a corner lot; Units 1 & 4: approx. 1,100 SF, 2 bedrooms, 2.5 baths; Units 2 & 3: approx. 1,200 SF, 3 bedrooms, 2.5 baths; Each unit includes kitchen appliances plus a washer and dryer
