Dutch Colonial
For Sale
$669,000
3424 Southeast 10th Avenue, Portland, OR 97202
Four-unit residential property with varied layouts, basement storage, and laundry hookups.
Property Size2,201 SF
Price / SF$303.95
Days on Market208
Property Features for 3424 Southeast 10th Avenue
General Information
Standard status
Active
Size
2,201 SF
Property subtype
Multi Family
Zoning
R2.5
Site & Location
Neighborhood
Brooklyn Action Corps
Units
Unit Mix
2 x 2BR/1BA, 2 x studio/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,892
Amenities
laundry hookups
3
Storage Space, Unfinished
Concrete Perimeter
Composition
Lap Siding, Shingle Siding
Building Details
Year Built
1909
Buildings
1
Construction
Dutch Colonial-style
Listing Agency:
LUXE Forbes Global Properties
Listed By:
Steve Odermann · License #201209382
(503) 389-2112
Source:
Compass
Added: Mar 30
Changed: Oct 15
Last Checked: Oct 20 at 11:49PM
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 LUXE Forbes Global Properties
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Investment Insights
Based on property information with market context.
This 1909 Dutch Colonial fourplex contains two two-bedroom, one-bath apartments and two studio apartments with one bath each. Period-inspired architectural details carry through the units, while an unfinished basement provides laundry hookups and additional storage capacity. The property is zoned R2.5.
The building sits in Portland’s Brooklyn neighborhood, one block from Brooklyn Park. Local shops, restaurants, and neighborhood services are nearby, with a Walk Score of 89 and a Bike Score of 93. The property has had long-term ownership and a history of low vacancy rates. Interior access is subject to inspection, and tenants should not be disturbed.
The building sits in Portland’s Brooklyn neighborhood, one block from Brooklyn Park. Local shops, restaurants, and neighborhood services are nearby, with a Walk Score of 89 and a Bike Score of 93. The property has had long-term ownership and a history of low vacancy rates. Interior access is subject to inspection, and tenants should not be disturbed.
Key Highlights
- Fourplex with two 2 bed/1 bath units and two studio + 1 bath units
- 1909 Dutch Colonial‑style building with period‑appropriate details
- Unfinished basement includes laundry hookups and storage potential
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,980
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$639,600
$639.6K
Cap Rate 7%
$456,857
$456.9K
Cap Rate 9%
$355,333
$355.3K
Market Conditions
NOI Build-Up for 2,201 SF
Gross rent
$48.9K $22.20/SF
− Vacancy
−$3.2K −$1.44/SF
EGI
$45.7K $20.76/SF
− OpEx
−$13.7K −$6.23/SF
NOI
$32.0K $14.53/SF
Area
ZIP 97202
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$639,600
Cap Rate 7%
$456,857
Cap Rate 9%
$355,333
Alternative Uses
Best Use
Multifamily LT 5
$456.9K
$399.8K – $533.0K
NOI $31,980 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$424.2K
$371.2K – $494.9K
NOI $29,694 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$525.1K
$459.5K – $612.6K
NOI $36,757 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,556
Businesses Nearby
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Business Placement
Demographics for 97202, OR
43,193
Population
20,097
Households
2.1
Avg Household Size
38
Median Age
65%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
6,856
Density / Sq Mi
$100,353
Median Household Income
$52,090
Median Earnings
$1,674
Median Rent
$684,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential property with varied layouts, basement storage, and laundry hookups.
Where is this quadplex located?
The property is located at 3424 Southeast 10th Avenue Portland, OR.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Fourplex with two 2 bed/1 bath units and two studio + 1 bath units; 1909 Dutch Colonial‑style building with period‑appropriate details; Unfinished basement includes laundry hookups and storage potential
