4-Unit Apartment
For Sale
$800,000
2910 SE Gladstone St, Portland, OR 97202
Three two-bedroom units and one one-bedroom unit share laundry and individual electric meters.
Property Size3,306 SF
Price / SF$241.98
Days on Market54
Property Features for 2910 SE Gladstone St
General Information
Standard status
Active
Size
3,306 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 2BD/1BA, 1 x 1BD/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Amenities
shared laundry
separate storage
Building Details
Year Built
1967
Listing Agency:
Rarebird Real Estate
Listed By:
Benjamin Ficker · License #122440
(503) 270-5700
Source:
Kingdomreal
Added: Aug 23
Changed: Oct 2
Last Checked: Oct 7 at 1:44PM
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 Rarebird Real Estate
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Investment Insights
Based on property information with market context.
This 3,306-square-foot fourplex, built in 1967, occupies a corner parcel in Southeast Portland. The unit mix includes three two-bedroom, one-bath residences and one one-bedroom, one-bath residence. Each unit has its own electric meter, while shared laundry and dedicated storage areas serve the building. A newer asphalt-shingle roof and 200-amp electrical service are also in place.
The property is located at 2910 SE Gladstone St near Kenilworth Park and the Gladstone corridor. Ship Ahoy Tavern is directly across the street, and Reed College, Eastmoreland Golf Course, Woodstock, and the Division/Clinton districts are within minutes. Transit connections are available along Powell and Holgate.
The property is located at 2910 SE Gladstone St near Kenilworth Park and the Gladstone corridor. Ship Ahoy Tavern is directly across the street, and Reed College, Eastmoreland Golf Course, Woodstock, and the Division/Clinton districts are within minutes. Transit connections are available along Powell and Holgate.
Key Highlights
- 3,306 SF fourplex on a corner lot
- Unit mix: three 2BD/1BA units and one 1BD/1BA unit
- Individually metered electric service for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,036
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$960,720
$960.7K
Cap Rate 7%
$686,229
$686.2K
Cap Rate 9%
$533,733
$533.7K
Market Conditions
NOI Build-Up for 3,306 SF
Gross rent
$73.4K $22.20/SF
− Vacancy
−$4.8K −$1.44/SF
EGI
$68.6K $20.76/SF
− OpEx
−$20.6K −$6.23/SF
NOI
$48.0K $14.53/SF
Area
ZIP 97202
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$960,720
Cap Rate 7%
$686,229
Cap Rate 9%
$533,733
Alternative Uses
Best Use
Multifamily LT 5
$686.2K
$600.5K – $800.6K
NOI $48,036 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$637.2K
$557.5K – $743.4K
NOI $44,602 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$788.7K
$690.1K – $920.2K
NOI $55,210 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,044
Businesses Nearby
Explore this area
Business Placement
Demographics for 97202, OR
43,193
Population
20,097
Households
2.1
Avg Household Size
38
Median Age
65%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
6,856
Density / Sq Mi
$100,353
Median Household Income
$52,090
Median Earnings
$1,674
Median Rent
$684,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Three two-bedroom units and one one-bedroom unit share laundry and individual electric meters.
Where is this quadplex located?
The property is located at 2910 SE Gladstone St Portland, OR.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 3,306 SF fourplex on a corner lot; Unit mix: three 2BD/1BA units and one 1BD/1BA unit; Individually metered electric service for each unit
