18-Unit Apartment
New
For Sale
$3,399,900
3727 S Hood AVE, Portland, OR 97239
Modern residences offer open layouts, tall ceilings, stainless-steel appliances, and select private outdoor spaces.
Property Size9,695 SF
Price / SF$350.69
Days on Market5
Property Features for 3727 S Hood AVE
General Information
Standard status
Active
Size
9,695 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
18
Amenities
bike storage
dedicated trash area
covered patios/balconies
stackable washer/dryer units
Building Details
Year Built
2023
Buildings
1
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 966-4371
Listed By:
Realty Portland Team · License #199910100
(503) 966-4371
Source:
Realtyportland
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 29 at 8:59AM
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 Keller Williams Realty Portland Premiere
Investment Insights
Based on property information with market context.
Built in 2023, this 18-unit apartment property combines contemporary residential design with practical resident amenities. Unit interiors feature open-plan layouts, tall ceilings, abundant natural light, custom cabinetry, stainless-steel appliances, designer finishes, and stackable washer/dryer units. Selected residences include covered patios or balconies. The property also provides bike storage and a dedicated trash area.
The building is located at 3727 S Hood AVE in Portland’s South Waterfront district, with access to nearby dining and coffee shops, downtown Portland, and OHSU. Its unit count, modern construction, and amenity package create a cohesive multifamily asset in an established urban setting.
The building is located at 3727 S Hood AVE in Portland’s South Waterfront district, with access to nearby dining and coffee shops, downtown Portland, and OHSU. Its unit count, modern construction, and amenity package create a cohesive multifamily asset in an established urban setting.
Key Highlights
- 18‑unit apartment building built in 2023
- Open‑plan residences with tall ceilings and natural light
- Custom cabinetry and stainless‑steel appliances
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
$124,484
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
3.66%
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%
$2,489,680
$2.5M
Cap Rate 7%
$1,778,343
$1.8M
Cap Rate 9%
$1,383,156
$1.4M
Market Conditions
NOI Build-Up for 9,695 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
$238.5K $24.60/SF
− Vacancy
−$12.2K −$1.25/SF
EGI
$226.3K $23.35/SF
− OpEx
−$101.9K −$10.51/SF
NOI
$124.5K $12.84/SF
Area
Portland, OR
Vacancy
5.10%
Lease Rate
$24.60 /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%
$2,489,680
Cap Rate 7%
$1,778,343
Cap Rate 9%
$1,383,156
Alternative Uses
Best Use
Apartment 5plus
$1.78M
$1.56M – $2.07M
NOI $124,484 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.72M
$2.38M – $3.18M
NOI $190,582 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
5,413
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Modern residences offer open layouts, tall ceilings, stainless-steel appliances, and select private outdoor spaces.
Where is this apartment building located?
The property is located at 3727 S Hood AVE Portland, OR.
What is the asking price?
The asking price for this property is $3,399,900.
What are key features of this property?
This property features: 18‑unit apartment building built in 2023; Open‑plan residences with tall ceilings and natural light; Custom cabinetry and stainless‑steel appliances
