Occupied Four-Unit Apartment
2554 NE HOYT St, Portland, OR 97232
For Sale
$910,000
MultiFamily, Portland, OR
Property Size2,900 SF
Lot Size0.12 Acres
Price / SF$313.79
Days on Market51
Property Features for 2554 NE HOYT St
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Subdivision
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Amenities
laundry room
individual storage units
additional storage room
Building Details
Year built
Floors in Building
Number of units
Listing Agency:
Premiere Property Group, LLC
(503) 670-9000
Listed By:
Zak Meaut · License #201234324
(503) 999-0383
Added: Sep 18
Changed: Oct 25
Last Checked: Nov 7 at 12:06AM
MLS# 394666582
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 2,900 square feet and six total bedrooms across four rentable residences. Built in 1958, the building is equipped with baseboard heating and includes a dedicated laundry room with coin-operated machines. Individual storage units and a larger additional storage room provide useful space for residents or owner use. The property sits on a 0.12-acre lot and is zoned RM2.
All four units are currently occupied. The property is located in Portland’s Kerns neighborhood, with restaurants, shops, entertainment, and public transit nearby. The address is 2554 NE HOYT St, Portland, OR 97232.
All four units are currently occupied. The property is located in Portland’s Kerns neighborhood, with restaurants, shops, entertainment, and public transit nearby. The address is 2554 NE HOYT St, Portland, OR 97232.
Key Highlights
- Four rentable units with six total bedrooms
- All four units currently occupied
- 2,900 square feet on a 0.12‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,413
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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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
$801,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Quadplexes in Portland, OR
Properties on Market for Quadplexes in Portland
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied residences with shared laundry and dedicated storage areas in Portland’s Kerns neighborhood.
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 four units currently occupied; 2,900 square feet on a 0.12‑acre lot
