Upgraded Four-Plex with Coin
For Sale
$899,000
3628 Southeast Milwaukie Avenue, Portland, OR 97202
Professionally managed four-plex with newer roof, sewer line, windows, and electrical panels, plus coin-operated laundry and storage.
Property Size4,368 SF
Price / SF$205.82
Days on Market124
Property Features for 3628 Southeast Milwaukie Avenue
General Information
Standard status
Active
Size
4,368 SF
Property subtype
Multi Family
Additional Details
Business Included
Yes
Multifamily Units
4
Building Details
Year Built
1912
Tenancy
Multi
Listing Agency:
Move Real Estate Inc
(503) 320-7394
Listed By:
Todd Winslow · License #200409131
(503) 320-7394
Source:
Compass
Added: Apr 1
Changed: Jul 20
Last Checked: Aug 2 at 11:34AM
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 Move Real Estate Inc
Investment Insights
Based on property information with market context.
This well-maintained four-plex offers stable income with a professionally managed setup. Extensive upgrades include a newer sewer line, newer roof, newer windows, and updated electrical panels. Each 1-bedroom unit features hardwood floors, large kitchens, big windows, and lots of natural light, with dedicated water heaters and separate gas and electric metering.
The upper unit includes a covered deck, and the lower unit offers basement bonus rooms. The basement also provides five storage lockers, bike storage, coin-operated laundry, and additional unfinished space with extra storage. Outdoors, a backyard patio and side yard offer on-site access for outdoor living. Located in a highly walkable and bike-friendly Portland neighborhood, the property is described as just steps to parks, coffee shops, and restaurants.
The upper unit includes a covered deck, and the lower unit offers basement bonus rooms. The basement also provides five storage lockers, bike storage, coin-operated laundry, and additional unfinished space with extra storage. Outdoors, a backyard patio and side yard offer on-site access for outdoor living. Located in a highly walkable and bike-friendly Portland neighborhood, the property is described as just steps to parks, coffee shops, and restaurants.
Key Highlights
- Professionally managed Brooklyn 4‑plex built in 1912 with stable income and a history of low vacancy
- Upgrades include a newer sewer line, newer roof, windows, and newer electrical panels
- Each 1‑bedroom unit has hardwood floors, large kitchens, big windows, and is separately metered for gas and electric with dedicated water heaters
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $97.0k | $22.20 |
| − Vacancy | −$6.3k | −$1.44 |
| EGI | $90.7k | $20.76 |
| − OpEx | −$27.2k | −$6.23 |
| NOI | $63.5k | $14.53 |
4,368 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$906.7K
$793.3K – $1.06M
NOI $63,467 @ 7.0% cap · market cap 7.06%
Second Best
Apartment 5plus
$841.9K
$736.6K – $982.2K
NOI $58,930 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$1.04M
$911.8K – $1.22M
NOI $72,945 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,151
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Professionally managed four-plex with newer roof, sewer line, windows, and electrical panels, plus coin-operated laundry and storage.
Where is this quadplex located?
The property is located at 3628 Southeast Milwaukie Avenue Portland, OR.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Professionally managed Brooklyn 4‑plex built in 1912 with stable income and a history of low vacancy; Upgrades include a newer sewer line, newer roof, windows, and newer electrical panels; Each 1‑bedroom unit has hardwood floors, large kitchens, big windows, and is separately metered for gas and electric with dedicated water heaters
