Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2575 NW Lovejoy St Portland, OR 97210

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Fully occupied 8-unit multifamily property in Portland's NW district.

    Property size:
    7,182 SF
    Lot size:
    9,300.00 Acres

    Property Features for 2575 NW Lovejoy St

    General Information

    Standard status
    Active
    Zoning
    RM3
    Size
    7,182 SF
    Lot size
    9,300.00 Acres

    Building Details

    Year built
    1960

    We can help!

    Listing Contact
    Sue O'Halloran
    Sue O'Halloran
    Source: Crexi

    Listing Agency: Kohler Meyers O'Halloran Listing Agent: Sue O'Halloran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Portland Multifamily Investment Opportunity

    This is an 8-unit multifamily property located in the NW district of Portland, specifically in Nob Hill. The property is 100% occupied, presenting an investment opportunity. Each unit includes fireplaces, private decks, and individual storage units. On-site laundry facilities are available. A new roof was installed in 2023-2024. The property is 7,182 square feet. It offers a blend of urban convenience and outdoor access.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Dental Office Hair Salon Spa & Massage Center Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Washington
    State
    Oregon
    Longitude
    -122.7044003
    Latitude
    45.5299202

    Nearby Similar for Sale

    • New
      $679,900
      3,407 SF

      Buckman Fourplex Investment Opportunity

      Fourplex in inner SE Portland with immediate rental income.
      1705 SE Morrison St, Portland, OR 97214
      View Details
    • New
      $695,000
      3,406 SF

      Charming Fourplex in Buckman Neighborhood

      Vintage fourplex in Southeast Portland's desirable Buckman neighborhood.
      942 SE 16Th Ave, Portland, OR 97214
      View Details
    • New
      $1,999,950
      3,571 SF

      Profitable Adult Care Home Business

      Turn-key adult care home business in Southwest Portland for sale.
      8955 SW Club Meadow Ln, Portland, OR 97225
      View Details
    • $854,000
      3,046 SF

      Charming Plex in Richmond Heart

      Lovingly maintained plex with updated roof and separate electrical meters.
      3123 SE 31St Ave, Portland, OR 97202
      View Details
    • $995,000
      3,309 SF

      Sellwood/Moreland 5-Plex with Development Potential

      Well-maintained 5-plex with expansion potential in a desirable location.
      8410 SE 21St Ave, Portland, OR 97202
      View Details
    • New
      $969,900
      3,018 SF

      Innovative Duplex in Portland, Oregon

      Versatile duplex suitable for multi-generational living or investment.
      16473 NW Liberty St, Portland, OR 97229
      View Details
    • New
      $775,900
      3,161 SF

      Remodeled Duplex in Prime Location

      Mid-century duplex with modern upgrades and ADU potential.
      3921 SE Boise St, Portland, OR 97202
      View Details
    • $575,000
      3,499 SF

      Portland Fourplex Redevelopment Opportunity

      Redevelopment opportunity: approved fourplex plans in North Portland.
      7827 N Denver Ave, Portland, OR 97217
      View Details
    • New
      $585,000
      3,022 SF

      Vintage Maywood Park Duplex

      1951 mid-century duplex with character in historic NE Portland.
      3511 NE 102Nd Ave, Portland, OR 97220
      View Details
    • New
      $889,900
      3,718 SF

      Two Homes on One Lot

      Two homes on one lot in Portland's John's Landing.
      6636 S Virginia Ave, Portland, OR 97239
      View Details
    • $925,000
      3,348 SF

      Portland Multifamily Investment Opportunity

      Multifamily property in a trendy Portland location with strong rental demand.
      1414 SE Lambert St, Portland, OR 97202
      View Details
    • New
      $698,000
      4,500 SF

      Mixed-Use Investment Opportunity, Portland

      Mixed-use property with development potential in Portland, Oregon.
      8325 SE Division St, Portland, OR 97266
      View Details

    FAQs

    What type of property is this?
    Apartment building - Fully occupied 8-unit multifamily property in Portland's NW district.
    Where is this apartment building located?
    The property is located at 2575 NW Lovejoy St Portland, OR.
    What are key features of this property?
    This property features: - 100% Occupied Investment Property; - Prime Location in Portland's NW Nob Hill District; - New Roof (2023-2024)
    (503) 661-8000
    Request Owner's contact information
    2575 NW Lovejoy St Portland, OR 97210
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2575 NW Lovejoy St
    Portland, OR 97210
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2575 NW Lovejoy St Portland, OR 97210
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Sue O'Halloran
    Sue O'Halloran
    Real Estate License ID: 820700012
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!