Condo with Private
For Sale
$250,000
255 SW HARRISON ST #14D, Portland, OR 97201
Bright condo with floor-to-ceiling windows and private balcony.
Property Size964 SF
Days on Market541
Property Features for 255 SW HARRISON ST #14D
General Information
Standard status
Active
Size
964 SF
Property subtype
Condominium
Amenities
Forced Air
Central Air
Dishwasher
Disposal
Free-Standing Range
Free-Standing Refrigerator
Granite
Range Hood
Stainless Steel Appliance
Patio
Building Details
Building Size
964 SF
Year Built
1965
Stories
1
Listing Agency:
Keller Williams Sunset Corridor
Listed By:
Elizabeth Ramos · License #OR
(503) 310-4612
Source:
Kw
Added: Mar 27, 2025
Changed: Sep 10
Last Checked: Sep 16 at 8:29PM
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 Sunset Corridor
Investment Insights
Based on property information with market context.
This bright and inviting condo offers a comfortable living space with floor-to-ceiling windows that open to a private balcony, perfect for relaxing or entertaining. Stylish drapes complement the space, adding a touch of elegance. The well-maintained building features recent updates, including fresh interior paint, new carpets, and modern lighting fixtures. The HOA completed a major plumbing upgrade in 2014, replacing galvanized steel pipes with a high-tech system. Enjoy the convenience of a deeded parking space and extra storage. Nestled within the historically protected Halprin Open Space Sequence, this home is just steps from Portland’s vibrant arts, culture, and academic district. The Portland Streetcar stops right outside, providing easy access to the city.
Key Highlights
- Prime location steps from Portland's arts, culture, and academic district, with Portland Streetcar access.
- Seller offering credit towards buyer's closing costs, pre‑paids, or interest rate buydown.
- Enjoy a private balcony and floor‑to‑ceiling windows.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,378
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$247,560
$247.6K
Cap Rate 7%
$176,829
$176.8K
Cap Rate 9%
$137,533
$137.5K
Market Conditions
NOI Build-Up for 964 SF
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.
Gross rent
$23.7K $24.60/SF
− Vacancy
−$1.2K −$1.25/SF
EGI
$22.5K $23.35/SF
− OpEx
−$10.1K −$10.51/SF
NOI
$12.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$247,560
Cap Rate 7%
$176,829
Cap Rate 9%
$137,533
Alternative Uses
Best Use
Apartment 5plus
$176.8K
$154.7K – $206.3K
NOI $12,378 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$270.7K
$236.9K – $315.8K
NOI $18,950 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,613
Businesses Nearby
Explore this area
Business Placement
Demographics for 97201, OR
17,352
Population
10,748
Households
1.6
Avg Household Size
34
Median Age
67%
College-Educated
95%
High-School Grad
1.9 sq mi
ZIP Area
9,133
Density / Sq Mi
$67,074
Median Household Income
$48,101
Median Earnings
$1,565
Median Rent
$648,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Bright condo with floor-to-ceiling windows and private balcony.
Where is this apartment building located?
The property is located at 255 SW HARRISON ST #14D Portland, OR.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Prime location steps from Portland's arts, culture, and academic district, with Portland Streetcar access.; Seller offering credit towards buyer's closing costs, pre‑paids, or interest rate buydown.; Enjoy a private balcony and floor‑to‑ceiling windows.
