New 18-Unit Apartment
For Sale
$3,499,900
3727 S Hood Ave, Portland, OR 97239
MULTI_FAMILY - Portland, OR
Property Size9,695 SF
Lot Size0.11 Acres
Price / SF$361
Days on Market364
Property Features for 3727 S Hood Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM3
Bedrooms
6
Bathrooms
10
Full bathrooms
10
Rooms
Bedroom 6, Bathroom 4, Bathroom 5, Bedroom 5, Bedroom 1, Bathroom 10, Bedroom 2, Bathroom 9, Bathroom 8, Bathroom 6, Bedroom 4, Bathroom 7, Bathroom 1, Bathroom 3, Bedroom 3, Bathroom 2
Subdivision
South Portland
View
City
Elementary school
Capitol Hill
Middle school
Jackson
High school
Ida B Wells
Directions
Corner of S Hood Ave & S Lane St
Standard status
Active
APN
R129248
Size
9,695 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
CARUTHERS ADD, BLOCK 161, LOT 3
Tax Annual Amount
45976
Legal Description
CARUTHERS ADD, BLOCK 161, LOT 3
Utilities
Heating system
Zoned
Cooling system
Heat Pump
Amenities
bike storage
dedicated trash area
covered patios/balconies
in-unit washer/dryer
Building Details
Year built
2023
Floors in Building
4
Number of units
18
Roof type
Metal
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: Aug 5, 2025
Changed: Aug 2
Last Checked: Aug 3 at 12:06AM
MLS# 157452551
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 new construction apartment building offers 18 residential units within a 2023-built structure on a 0.11-acre lot. The property is sized at 9,695 square feet and features zoned heating and heat pump cooling. A metal roof tops the building.
The units include stackable washer/dryer and stainless-steel appliances, with custom cabinetry and an open floor plan. Additional resident amenities include bike storage and a dedicated trash area.
The building is located at 3727 S Hood Ave in Portland, Oregon 97239, within RM3 zoning.
The units include stackable washer/dryer and stainless-steel appliances, with custom cabinetry and an open floor plan. Additional resident amenities include bike storage and a dedicated trash area.
The building is located at 3727 S Hood Ave in Portland, Oregon 97239, within RM3 zoning.
Key Highlights
- 18‑unit apartment building
- Built in 2023
- Zoned RM3
Financial Insights For Apartment 5plus
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 | $238.5k | $24.60 |
| − Vacancy | −$12.2k | −$1.25 |
| EGI | $226.3k | $23.35 |
| − OpEx | −$101.9k | −$10.51 |
| NOI | $124.5k | $12.84 |
9,695 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.78M
$1.56M – $2.07M
NOI $124,484 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.72M
$2.38M – $3.18M
NOI $190,582 @ 7.0% cap · market cap 5.45%
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
1,337
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - RM3-zoned 2023-built apartment building with heat pump cooling and a metal roof on a 0.11-acre lot.
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 $3,499,900.
What are key features of this property?
This property features: 18‑unit apartment building; Built in 2023; Zoned RM3
