Four-Unit Quadplex with
For Sale
$1,200,000
3204 SW 10TH AVE, Portland, OR 97239
Updated kitchens and baths, in-unit laundry, and fireplaces in two units add practical features for residents.
Property Size4,116 SF
Price / SF$291.55
Days on Market224
Property Features for 3204 SW 10TH AVE
General Information
Standard status
Active
Size
4,116 SF
Property subtype
MULTI_FAMILY
Site & Location
Neighborhood
Brooklyn
Public Transit
Yes
Units
Multifamily Units
4
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$16,881
Amenities
hardwood flooring
quartz countertops
updated cabinetry
stainless steel appliances
dishwashers
modern stainless exhaust hoods
high-efficiency washers and dryers
fireplaces
double-pane windows
Building Details
Building Size
4,116 SF
Year Built
1953
Listing Agency:
ELEETE REAL ESTATE
Listed By:
The Lee Davies Team
(503) 997-1118
Source:
Leedavies
Added: Mar 24
Changed: Oct 26
Last Checked: Oct 31 at 2:28PM
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 ELEETE REAL ESTATE
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Investment Insights
Based on property information with market context.
This 4,116-square-foot quadplex in Portland contains four units, with two facing north and two oriented southwest. Interior improvements include hardwood floors, quartz countertops, updated kitchen and bathroom cabinetry, and stainless steel appliances with dishwashers and exhaust hoods. Each unit has a washer and dryer, and two units have fireplaces. Cadet electric wall heaters provide heat; the property also has double-pane windows, a newer hot water heater, and a roof replaced approximately two years ago. Built in 1953, the building offers parking for two vehicles per unit.
The property is two blocks from OHSU, with transit, downtown Portland, and major employment centers also cited nearby.
The property is two blocks from OHSU, with transit, downtown Portland, and major employment centers also cited nearby.
Key Highlights
- Four‑unit property with 4,116 square feet
- Parking for two vehicles per unit
- Two blocks from OHSU
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,359
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,147,180
$1.1M
Cap Rate 7%
$819,414
$819.4K
Cap Rate 9%
$637,322
$637.3K
Market Conditions
NOI Build-Up for 4,116 SF
Gross rent
$86.4K $21.00/SF
− Vacancy
−$4.5K −$1.09/SF
EGI
$81.9K $19.91/SF
− OpEx
−$24.6K −$5.97/SF
NOI
$57.4K $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 Rate 5%
$1,147,180
Cap Rate 7%
$819,414
Cap Rate 9%
$637,322
Alternative Uses
Best Use
Multifamily LT 5
$819.4K
$717.0K – $956.0K
NOI $57,359 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$755.0K
$660.6K – $880.8K
NOI $52,849 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,911 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,724
Businesses Nearby
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Business Placement
Demographics for 97239, OR
18,323
Population
9,963
Households
1.8
Avg Household Size
39
Median Age
74%
College-Educated
99%
High-School Grad
3.6 sq mi
ZIP Area
5,090
Density / Sq Mi
$108,795
Median Household Income
$67,384
Median Earnings
$1,749
Median Rent
$713,100
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 - Updated kitchens and baths, in-unit laundry, and fireplaces in two units add practical features for residents.
Where is this quadplex located?
The property is located at 3204 SW 10TH AVE Portland, OR.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Four‑unit property with 4,116 square feet; Parking for two vehicles per unit; Two blocks from OHSU
