Occupied Four-Unit
New
For Sale
$910,000
2554 NE HOYT ST, Portland, OR 97232
Four occupied units include dedicated laundry, individual storage, and a separate larger storage room.
Property Size2,900 SF
Days on Market5
Property Features for 2554 NE HOYT ST
General Information
Standard status
Active
Size
2,900 SF
Property subtype
MULTI_FAMILY
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,931
Amenities
laundry room
storage units
Building Details
Building Size
2,900 SF
Year Built
1958
Listing Agency:
Premiere Property Group, LLC
Listed By:
Zak Meaut · License #201234324
(503) 999-0383
Source:
Eleeterealestate
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 21 at 8:13AM
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 Premiere Property Group, LLC
Investment Insights
Based on property information with market context.
This 2,900-square-foot quadplex in Portland’s Kerns neighborhood contains four rentable units with six total bedrooms. Built in 1958, the property is fully occupied and includes a dedicated laundry room equipped with coin-operated machines. Each unit has individual storage, while a larger separate storage room provides additional space for rental use or owner purposes.
The property is located at 2554 NE Hoyt St in Portland, near restaurants, shops, entertainment, and public transit. Its four-unit configuration, existing occupancy, laundry facilities, and multiple storage areas create a practical multifamily property profile in an established urban setting.
The property is located at 2554 NE Hoyt St in Portland, near restaurants, shops, entertainment, and public transit. Its four-unit configuration, existing occupancy, laundry facilities, and multiple storage areas create a practical multifamily property profile in an established urban setting.
Key Highlights
- Four rentable units with six total bedrooms
- All units currently occupied
- 2,900 square feet on a 1958‑built property
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
$40,413
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
4.44%
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%
$808,260
$808.3K
Cap Rate 7%
$577,329
$577.3K
Cap Rate 9%
$449,033
$449.0K
Market Conditions
NOI Build-Up for 2,900 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
$60.9K $21.00/SF
− Vacancy
−$3.2K −$1.09/SF
EGI
$57.7K $19.91/SF
− OpEx
−$17.3K −$5.97/SF
NOI
$40.4K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
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%
$808,260
Cap Rate 7%
$577,329
Cap Rate 9%
$449,033
Alternative Uses
Best Use
Multifamily LT 5
$577.3K
$505.2K – $673.6K
NOI $40,413 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$531.9K
$465.5K – $620.6K
NOI $37,236 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$814.4K
$712.6K – $950.1K
NOI $57,007 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,623
Businesses Nearby
Explore this area
Business Placement
Demographics for 97232, OR
15,382
Population
9,594
Households
1.6
Avg Household Size
37
Median Age
65%
College-Educated
96%
High-School Grad
1.9 sq mi
ZIP Area
8,096
Density / Sq Mi
$71,278
Median Household Income
$49,794
Median Earnings
$1,584
Median Rent
$801,300
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied units include dedicated laundry, individual storage, and a separate larger storage room.
Where is this quadplex located?
The property is located at 2554 NE HOYT ST Portland, OR.
What is the asking price?
The asking price for this property is $910,000.
What are key features of this property?
This property features: Four rentable units with six total bedrooms; All units currently occupied; 2,900 square feet on a 1958‑built property
