18-Unit Apartment
For Sale
$3,399,900
3727 S Hood Ave, Portland, OR 97239
MultiFamily, Portland, OR
Property Size9,695 SF
Lot Size0.11 Acres
Price / SF$350.69
Days on Market431
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, Bedroom 5, Bathroom 3, Bathroom 8, Bathroom 10, Bathroom 6, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 4, Bedroom 1, Bathroom 7, Bathroom 9, Bathroom 5, Bathroom 2, Bedroom 4
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: Oct 9
Last Checked: Oct 9 at 8:06AM
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.
Completed in 2023, this 9,695-square-foot apartment building contains 18 units on a 0.11-acre site. The property is zoned RM3 and features open-plan interiors with tall ceilings, custom cabinetry, stainless-steel appliances, and stackable washer and dryer units. Select residences include covered patios or balconies. Zoned heating and heat-pump cooling serve the building, which also has a metal roof.
The property 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. Additional common-area features include bike storage and a designated trash area.
The property 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. Additional common-area features include bike storage and a designated trash area.
Key Highlights
- 18‑unit apartment building completed in 2023
- 9,695 square feet on a 0.11‑acre site
- RM3 zoning in Portland’s South Waterfront district
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$124,484
Cap Rate
3.66%
Suggested Prices Based on Cap Rates
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
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 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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Apartment building - Newly built multifamily property with contemporary interiors, outdoor spaces in select units, bike storage, and dedicated trash facilities.
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 completed in 2023; 9,695 square feet on a 0.11‑acre site; RM3 zoning in Portland’s South Waterfront district
