Under Construction 4-Plex
For Sale
$1,549,900
3138 NE 72nd Ave, Portland, OR 97213
MULTI_FAMILY - Portland, OR
Property Size3,629 SF
Lot Size0.11 Acres
Price / SF$427.09
Days on Market139
Property Features for 3138 NE 72nd Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R5
Bedrooms
6
Bathrooms
9
Full bathrooms
9
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 5, Bathroom 3, Bedroom 5, Bedroom 6, Bathroom 4, Bathroom 7, Bathroom 8, Bathroom 9, Bedroom 1, Bathroom 6, Bathroom 2, Bedroom 2
Subdivision
ROSEWAY
Elementary school
Jason Lee
Middle school
Roseway Heights
High school
Leodis McDaniel
Directions
Sandy Blvd to NE 72nd Ave
Standard status
Active
APN
New Construction
Size
3,629 SF
Lot size
0.11 Acres
Utilities
Cooling system
Heat Pump
Building Details
Year built
2026
Floors in Building
2
Number of units
4
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: Mar 17
Changed: Aug 2
Last Checked: Aug 2 at 3:06PM
MLS# 695188748
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Under construction turnkey 4-plex featuring attached townhome-style units with open great room main levels, high ceilings, and abundant natural light. Each unit is laid out for two-bedroom roommate living with two bedrooms upstairs, both configured as ensuites with dedicated private bathrooms, plus a half bathroom on the main level and a centrally located laundry area between the bedrooms. Kitchens include peninsula countertop/eat bar seating, solid-surface countertops, stainless steel appliances, and extensive custom cabinetry for storage. Each home also offers efficient mini-split heating and cooling, along with private fenced patio and yard space, with the rear unit providing a substantially larger yard.
The property is planned for a 0.11-acre lot in R5 zoning and is set up as a low-maintenance community with composition roofing. Construction is slated for 2026 completion.
Located in Portland’s Roseway neighborhood, the area provides convenient access to parks and recreation, along with nearby retail and dining, and easy access to I-84 and public transit for ongoing tenant demand and retention.
The property is planned for a 0.11-acre lot in R5 zoning and is set up as a low-maintenance community with composition roofing. Construction is slated for 2026 completion.
Located in Portland’s Roseway neighborhood, the area provides convenient access to parks and recreation, along with nearby retail and dining, and easy access to I-84 and public transit for ongoing tenant demand and retention.
Key Highlights
- Under construction turnkey 4‑plex townhome‑style units
- R5 zoning on a 0.11‑acre lot
- Four 2‑bedroom units with two ensuite bathrooms plus a main‑floor half bath
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $76.2k | $21.00 |
| − Vacancy | −$4.0k | −$1.09 |
| EGI | $72.2k | $19.91 |
| − OpEx | −$21.7k | −$5.97 |
| NOI | $50.6k | $13.94 |
3,629 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
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
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
758
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 - New construction 4-plex in R5 zoning with townhome-style 2-bedroom layouts, private patios, and efficient mini-split heat and cooling.
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: Under construction turnkey 4‑plex townhome‑style units; R5 zoning on a 0.11‑acre lot; Four 2‑bedroom units with two ensuite bathrooms plus a main‑floor half bath
