Partially Finished
New
For Sale
$500,000
3604 SE 7TH Ave, Portland, OR 97202
MultiFamily, Portland, OR
Property Size2,376 SF
Lot Size0.11 Acres
Price / SF$210.44
Days on Market2
Property Features for 3604 SE 7TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-5
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 3, Bedroom 6, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 1, Bathroom 1, Bathroom 4, Bedroom 2
Subdivision
BROOKLYN NEIGHBORHOOD
Elementary school
Grout
Middle school
Hosford
High school
Cleveland
Directions
McLoughlin Blvd to SE 7th Ave
Standard status
Active
APN
R257397
Size
2,376 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
RIVERSIDE HMSTD (SUB OF BLK 2 LT 2), BLOCK 2, LOT 6
Tax Annual Amount
7770
Legal Description
RIVERSIDE HMSTD (SUB OF BLK 2 LT 2), BLOCK 2, LOT 6
Utilities
Heating system
Forced Air
Building Details
Year built
1949
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Summa Real Estate Group
(503) 906-2606
Listed By:
Angie Hobson · License #201234540
(503) 349-9410
Added: Oct 8
Last Checked: Oct 9 at 12:06PM
MLS# 339184298
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.
This 2,376-square-foot duplex has a planned layout of three bedrooms and two bathrooms per side. One unit is largely finished, with hardwood floors and an updated kitchen, though a bathroom remains unfinished. The other unit needs substantial interior completion. Both sides are vacant. A separate 1,107-square-foot unfinished basement is not included in the building area. The property was built in 1949 and has forced-air heating and a composition roof.
The 0.11-acre property is in Portland, with access to the MAX Orange Line, public transit and nearby parks. It has a 92 Bike Score and a 79 Walk Score. Zoning is R-5. The Home Energy Score is 1. Buyers should verify area, permitted uses, renovation requirements and potential future uses.
The 0.11-acre property is in Portland, with access to the MAX Orange Line, public transit and nearby parks. It has a 92 Bike Score and a 79 Walk Score. Zoning is R-5. The Home Energy Score is 1. Buyers should verify area, permitted uses, renovation requirements and potential future uses.
Key Highlights
- Duplex planned for 3 bedrooms and 2 bathrooms on each side
- 2,376 square feet of building area; 1,107‑square‑foot unfinished basement excluded
- One side is largely finished; the other requires significant interior work
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,523
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$690,460
$690.5K
Cap Rate 7%
$493,186
$493.2K
Cap Rate 9%
$383,589
$383.6K
Market Conditions
NOI Build-Up for 2,376 SF
Gross rent
$52.7K $22.20/SF
− Vacancy
−$3.4K −$1.44/SF
EGI
$49.3K $20.76/SF
− OpEx
−$14.8K −$6.23/SF
NOI
$34.5K $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%
$690,460
Cap Rate 7%
$493,186
Cap Rate 9%
$383,589
Alternative Uses
Best Use
Multifamily LT 5
$493.2K
$431.5K – $575.4K
NOI $34,523 @ 7.0% cap · market cap 6.90%
Second Best
Apartment 5plus
$457.9K
$400.7K – $534.3K
NOI $32,055 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$566.8K
$496.0K – $661.3K
NOI $39,679 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
865
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
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant two-unit property with one side substantially completed and the second requiring extensive interior work.
Where is this duplex located?
The property is located at 3604 SE 7TH Ave Portland, 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: Duplex planned for 3 bedrooms and 2 bathrooms on each side; 2,376 square feet of building area; 1,107‑square‑foot unfinished basement excluded; One side is largely finished; the other requires significant interior work
