5-Unit Apartment
2831 Se Ash St, Portland, OR 97214
For Sale
New
$995,000
Five residences offer two-bedroom layouts, with shared laundry and off-street parking on site.
Property Size3,792 SF
Price / SF$262.39
Days on Market4
Property Features for 2831 Se Ash St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
shared laundry facilities
private storage
outdoor garden area
Building Details
Year Built
Buildings
Listing Agency:
Barry Investment Real Estate
Listed By:
Phillip Barry · License #200807134
(503) 593-9707
Source:
Portlandoregonhomelistings
Added: Nov 3
Changed: Nov 6
Last Checked: Nov 6 at 9:04AM
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 Barry Investment Real Estate
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Investment Insights
Based on property information with market context.
This 5-unit apartment property in Portland was built in 1970 and contains 3,792 square feet. Four apartments have two bedrooms and one bathroom, with approximately 730 square feet each. The fifth is a two-level, two-bedroom residence with 1.5 bathrooms and approximately 1,050 square feet. Its features include wood floors, tiled kitchen and bathroom finishes, a private entrance and garden area, private storage, shared laundry, and five off-street parking spaces. Improvements include a PVC membrane roof, vinyl windows, fiber cement siding, water supply upgrades, foundation anchoring, and interior renovations over time.
At 2831 SE Ash Street, the property is near the SE 28th Avenue commercial corridor. Nearby destinations include Whole Foods Market, Laurelhurst Theater, Laurelhurst Park, and neighborhood restaurants, cafes, shops, and entertainment. The setting also offers walking and biking access to these area amenities.
At 2831 SE Ash Street, the property is near the SE 28th Avenue commercial corridor. Nearby destinations include Whole Foods Market, Laurelhurst Theater, Laurelhurst Park, and neighborhood restaurants, cafes, shops, and entertainment. The setting also offers walking and biking access to these area amenities.
Key Highlights
- Five apartments, each with a two‑bedroom layout
- Four units have one bathroom and approximately 730 square feet each
- Two‑level townhouse‑style unit has 1.5 bathrooms and approximately 1,050 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,689
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$973,780
$973.8K
Cap Rate 7%
$695,557
$695.6K
Cap Rate 9%
$540,989
$541.0K
Market Conditions
NOI Build-Up for 3,792 SF
Gross rent
$93.3K $24.60/SF
− Vacancy
−$4.8K −$1.25/SF
EGI
$88.5K $23.35/SF
− OpEx
−$39.8K −$10.51/SF
NOI
$48.7K $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 Rate 5%
$973,780
Cap Rate 7%
$695,557
Cap Rate 9%
$540,989
Alternative Uses
Best Use
Apartment 5plus
$695.6K
$608.6K – $811.5K
NOI $48,689 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$931.8K – $1.24M
NOI $74,542 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,297
Businesses Nearby
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Business Placement
Demographics for 97214, OR
28,403
Population
15,948
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
98%
High-School Grad
2.9 sq mi
ZIP Area
9,794
Density / Sq Mi
$86,879
Median Household Income
$55,643
Median Earnings
$1,628
Median Rent
$733,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Portland, OR
Properties on Market for Apartment buildings in Portland
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Five residences offer two-bedroom layouts, with shared laundry and off-street parking on site.
Where is this apartment building located?
The property is located at 2831 Se Ash St Portland, OR.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Five apartments, each with a two‑bedroom layout; Four units have one bathroom and approximately 730 square feet each; Two‑level townhouse‑style unit has 1.5 bathrooms and approximately 1,050 square feet
