Vintage Apartment
For Sale
Contact for pricing
3080 SE ANKENY ST, Portland, OR 97214
Nine corner studios retain historic finishes alongside upgraded building systems.
Property Size8,184 SF
Price / SF$201.61
Days on Market11
Property Features for 3080 SE ANKENY ST
General Information
Standard status
Active
Size
8,184 SF
Property subtype
Multifamily
Occupancy
100%
Investment Type
Core
Net Operating Income
$106,372
Units
Unit Mix
9 x studio
Multifamily Units
9
Amenities
laundry room
indoor bike parking
high-speed internet
Building Details
Year Built
1926
Buildings
1
Stories
3
Units
9
Listing Agency:
Kidder Mathews Portland
(503) 221-9900
Listed By:
Jordan Carter · License #OR 200606025
Source:
Crexi
Added: Jul 28
Changed: Aug 3
Last Checked: Aug 5 at 6:14AM
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 Kidder Mathews Portland
Investment Insights
Based on property information with market context.
Built in 1926, this 8,184-square-foot apartment property contains nine generously sized corner studio units, each organized with separate kitchen, dining, main, and dressing areas. Four apartments also include entry vestibules with coat closets. Original character remains throughout, including divided-light French doors, cabinetry, hardware, select light fixtures, coved ceilings with picture molding, hardwood flooring, and vintage iceboxes.
Additional income-producing spaces include a bright entry-level room used as an art studio and five garages leased for storage. Residents have ground-floor storage closets, while the laundry room provides interior bicycle parking. The property also includes lockable owner or manager areas, including an office and shop with a private side entrance.
Building improvements include double-pane vinyl windows with matching mullions, updated electrical panels, high-speed internet wiring, refreshed common areas, refinished floors, new hallway carpet, and recently repainted exterior stucco.
Additional income-producing spaces include a bright entry-level room used as an art studio and five garages leased for storage. Residents have ground-floor storage closets, while the laundry room provides interior bicycle parking. The property also includes lockable owner or manager areas, including an office and shop with a private side entrance.
Building improvements include double-pane vinyl windows with matching mullions, updated electrical panels, high-speed internet wiring, refreshed common areas, refinished floors, new hallway carpet, and recently repainted exterior stucco.
Key Highlights
- Nine corner studio apartments in an 8,184‑square‑foot building
- Constructed in 1926 with preserved historic interior details
- Five garages are rented as storage spaces
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
$105,082
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
6.37%
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%
$2,101,640
$2.1M
Cap Rate 7%
$1,501,171
$1.5M
Cap Rate 9%
$1,167,578
$1.2M
Market Conditions
NOI Build-Up for 8,184 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
$201.3K $24.60/SF
− Vacancy
−$10.3K −$1.25/SF
EGI
$191.1K $23.35/SF
− OpEx
−$86.0K −$10.51/SF
NOI
$105.1K $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 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%
$2,101,640
Cap Rate 7%
$1,501,171
Cap Rate 9%
$1,167,578
Alternative Uses
Best Use
Apartment 5plus
$1.50M
$1.31M – $1.75M
NOI $105,082 @ 7.0% cap · market cap 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.30M
$2.01M – $2.68M
NOI $160,879 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
1,832
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Nine corner studios retain historic finishes alongside upgraded building systems.
Where is this apartment building located?
The property is located at 3080 SE ANKENY ST Portland, OR.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Nine corner studio apartments in an 8,184‑square‑foot building; Constructed in 1926 with preserved historic interior details; Five garages are rented as storage spaces
