New Construction Roseway
For Sale
Contact for pricing
3138 NE 72nd Ave, Portland, OR 97213
Turnkey fourplex in Portland's Roseway neighborhood with income potential.
Property Size3,629 SF
Price / SF$427.09
Days on Market155
Property Features for 3138 NE 72nd Ave
General Information
Standard status
Active
Size
3,629 SF
Class
A
Property subtype
Multifamily
Zoning
R5
Investment Type
Value Add
Building Details
Year Built
2026
Buildings
1
Stories
2
Units
4
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
Source:
Crexi
Added: Mar 19
Changed: Aug 10
Last Checked: Aug 20 at 9:53AM
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 Keller Williams Realty Portland Premiere
Investment Insights
Based on property information with market context.
This new construction fourplex is located in Portland’s Roseway neighborhood. The attached multifamily property features four townhome-style units, each ranging from approximately 880 to 980 square feet. Each unit includes 2 bedrooms and 2.1 bathrooms, suitable for roommate living and maximizing rental demand. The units feature an open great room-style main level with high ceilings and natural light. Kitchens are equipped with peninsula countertops, eat bar seating, solid surface countertops, stainless steel appliances, and custom cabinetry. A half bathroom is located on the main floor. Upstairs, each home includes two bedrooms, each configured as an ensuite with a private bathroom, along with a centrally located laundry area. All units include mini-split heating and cooling, along with a private fenced patio and yard space. The rear unit offers a larger yard, presenting an opportunity for increased rental premium. Low-maintenance landscaping helps keep operating expenses predictable. The property is located in the heart of Roseway, near Roseway & Glenhaven Parks, Rocky Butte Natural Area, Roseway Theater, and The People's Courts, along with local spots like Case Study Coffee, New Seasons Market, and dining options along Sandy Blvd & Fremont St. Easy access to I-84, public transit, and close-in PDX supports tenant demand and long-term retention. The property size is 3629 square feet.
Key Highlights
- Turnkey new construction 4‑plex in desirable Roseway neighborhood.
- Strong income potential and long‑term flexibility as a multifamily asset.
- Each unit features 2 bedrooms and 2.1 bathrooms, designed for roommate living and maximizing rental demand.
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
$50,572
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
3.26%
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%
$1,011,440
$1.0M
Cap Rate 7%
$722,457
$722.5K
Cap Rate 9%
$561,911
$561.9K
Market Conditions
NOI Build-Up for 3,629 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
$76.2K $21.00/SF
− Vacancy
−$4.0K −$1.09/SF
EGI
$72.2K $19.91/SF
− OpEx
−$21.7K −$5.97/SF
NOI
$50.6K $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 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%
$1,011,440
Cap Rate 7%
$722,457
Cap Rate 9%
$561,911
Alternative Uses
Best Use
Multifamily LT 5
$722.5K
$632.2K – $842.9K
NOI $50,572 @ 7.0% cap · market cap 3.26%
Second Best
Apartment 5plus
$665.7K
$582.5K – $776.6K
NOI $46,596 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$1.02M
$891.7K – $1.19M
NOI $71,338 @ 7.0% cap · market cap 4.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
675
Businesses Nearby
Explore this area
Business Placement
Demographics for 97213, OR
31,260
Population
14,971
Households
2.1
Avg Household Size
40
Median Age
61%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
7,815
Density / Sq Mi
$95,801
Median Household Income
$56,941
Median Earnings
$1,490
Median Rent
$609,100
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?
Quadplex - Turnkey fourplex in Portland's Roseway neighborhood with income potential.
Where is this quadplex located?
The property is located at 3138 NE 72nd Ave Portland, OR.
What is the asking price?
The asking price for this property is $1,549,900.
What are key features of this property?
This property features: Turnkey new construction 4‑plex in desirable Roseway neighborhood.; Strong income potential and long‑term flexibility as a multifamily asset.; Each unit features 2 bedrooms and 2.1 bathrooms, designed for roommate living and maximizing rental demand.
