Multifamily Property with Fenced
For Sale
$500,000
3321 SE 12th, Gresham, OR 97080
The vacant three-bedroom unit can serve an owner-occupant or be leased to a tenant.
Property Size1,898 SF
Days on Market10
Property Features for 3321 SE 12th
General Information
Standard status
Active
Size
1,898 SF
Property subtype
MULTI_FAMILY
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,025
Amenities
fenced backyard
Building Details
Building Size
1,898 SF
Year Built
1981
Listing Agency:
Vitality Home Realty
Listed By:
Parvaneh Kalantari
(503) 260-1003
Source:
Eleeterealestate
Added: Sep 25
Changed: Sep 30
Last Checked: Oct 4 at 5:07PM
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 Vitality Home Realty
Investment Insights
Based on property information with market context.
This 1,898-square-foot multifamily property was built in 1981. A three-bedroom unit is vacant, and each unit has a fenced backyard.
Historic downtown Gresham, including shops, restaurants, and Main City Park, is within walking distance. Cleveland Avenue MAX Blue Line station is a short drive away. SE Palmquist Road connects to US-26/Powell Boulevard and SE Hogan Road.
Historic downtown Gresham, including shops, restaurants, and Main City Park, is within walking distance. Cleveland Avenue MAX Blue Line station is a short drive away. SE Palmquist Road connects to US-26/Powell Boulevard and SE Hogan Road.
Key Highlights
- 1,898‑square‑foot multifamily property built in 1981
- Vacant three‑bedroom unit
- Fenced backyard for each unit
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
$22,655
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
4.53%
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%
$453,100
$453.1K
Cap Rate 7%
$323,643
$323.6K
Cap Rate 9%
$251,722
$251.7K
Market Conditions
NOI Build-Up for 1,898 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
$42.8K $22.56/SF
− Vacancy
−$1.6K −$0.86/SF
EGI
$41.2K $21.70/SF
− OpEx
−$18.5K −$9.77/SF
NOI
$22.7K $11.94/SF
Area
Gresham, OR
Vacancy
3.80%
Lease Rate
$22.56 /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%
$453,100
Cap Rate 7%
$323,643
Cap Rate 9%
$251,722
Alternative Uses
Best Use
Apartment 5plus
$323.6K
$283.2K – $377.6K
NOI $22,655 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$433.7K
$379.5K – $506.0K
NOI $30,360 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Explore this area
Business Placement
Demographics for 97080, OR
45,647
Population
17,276
Households
2.6
Avg Household Size
38
Median Age
28%
College-Educated
90%
High-School Grad
21.6 sq mi
ZIP Area
2,113
Density / Sq Mi
$96,218
Median Household Income
$47,562
Median Earnings
$1,596
Median Rent
$485,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - The vacant three-bedroom unit can serve an owner-occupant or be leased to a tenant.
Where is this multifamily property located?
The property is located at 3321 SE 12th Gresham, OR.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1,898‑square‑foot multifamily property built in 1981; Vacant three‑bedroom unit; Fenced backyard for each unit
