Well-Maintained Fourplex with Private
For Sale
Contact for pricing
3216 SW 11th Ave, Portland, OR 97239
Four-plex with one vacant unit, assigned off-street parking, and outdoor deck spaces near OHSU.
Property Size3,330 SF
Price / SF$285.26
Days on Market53
Property Features for 3216 SW 11th Ave
General Information
Standard status
Active
Size
3,330 SF
Class
B
Total Parking Spaces
4
Property subtype
Multifamily
Zoning
RM3
Occupancy
75%
Additional Details
Multifamily Units
4
Building Details
Year Built
1974
Stories
3
Units
4
Tenancy
Multi
Listing Agency:
MORE Realty
(503) 353-6673
Listed By:
Jeff Stephens · License #201237728
Source:
Crexi
Added: Jun 20
Changed: Aug 8
Last Checked: Aug 11 at 6:04PM
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 MORE Realty
Investment Insights
Based on property information with market context.
This well-maintained four-plex offers a straightforward, rental-friendly layout with one unit currently vacant. The building is in good condition and includes assigned off-street parking for each unit. Additional exterior livability features include east-facing views and a private deck for enjoying time outdoors.
Located on a quiet, no-through street at 3216 SW 11th Ave in Portland, the property is described as within a short walk to OHSU. The setting supports a more residential feel while keeping the campus nearby.
With one unit ready for immediate occupancy, the property can work well for an owner-occupant who wants to offset living expenses with rental income from the other three units. For investors, the asset provides a four-unit structure with each unit served by its own assigned off-street parking and a location that appeals to tenants who value close proximity to OHSU.
Located on a quiet, no-through street at 3216 SW 11th Ave in Portland, the property is described as within a short walk to OHSU. The setting supports a more residential feel while keeping the campus nearby.
With one unit ready for immediate occupancy, the property can work well for an owner-occupant who wants to offset living expenses with rental income from the other three units. For investors, the asset provides a four-unit structure with each unit served by its own assigned off-street parking and a location that appeals to tenants who value close proximity to OHSU.
Key Highlights
- Four‑plex built in 1974 with one unit currently vacant
- Assigned off‑street parking for each unit
- Private deck space included
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
$46,406
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
4.89%
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%
$928,120
$928.1K
Cap Rate 7%
$662,943
$662.9K
Cap Rate 9%
$515,622
$515.6K
Market Conditions
NOI Build-Up for 3,330 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
$69.9K $21.00/SF
− Vacancy
−$3.6K −$1.09/SF
EGI
$66.3K $19.91/SF
− OpEx
−$19.9K −$5.97/SF
NOI
$46.4K $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 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%
$928,120
Cap Rate 7%
$662,943
Cap Rate 9%
$515,622
Alternative Uses
Best Use
Multifamily LT 5
$662.9K
$580.1K – $773.4K
NOI $46,406 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$610.8K
$534.5K – $712.6K
NOI $42,757 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$935.1K
$818.3K – $1.09M
NOI $65,460 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,448
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-plex with one vacant unit, assigned off-street parking, and outdoor deck spaces near OHSU.
Where is this quadplex located?
The property is located at 3216 SW 11th Ave Portland, OR.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Four‑plex built in 1974 with one unit currently vacant; Assigned off‑street parking for each unit; Private deck space included
