Duplex with Separate
For Sale
$565,000
3815 SE 64TH AVE, Portland, OR 97206
Two residences have long-term tenants, with shared laundry and storage in the basement.
Property Size2,760 SF
Price / SF$204.71
Days on Market124
Property Features for 3815 SE 64TH AVE
General Information
Standard status
Active
Size
2,760 SF
Property subtype
MULTI_FAMILY
Site & Location
Neighborhood
Foster-Powell
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,961
Amenities
shared laundry
storage
landscaped backyard
fenced backyard
Building Details
Building Size
2,760 SF
Year Built
1924
Listing Agency:
Destined Realty Group
Listed By:
Destiny George · License #201204895
(541) 303-3002
Source:
Destinedrealtygroup
Added: Jun 29
Changed: Oct 27
Last Checked: Oct 27 at 4:06AM
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 Destined Realty Group
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Investment Insights
Based on property information with market context.
Built in 1924, this 2,760-square-foot duplex has two apartments, each with two bedrooms and one bathroom. Both include wood flooring, a living area, and a kitchen. Shared laundry and storage are located in the basement, and a separate studio is also on the property. The exterior was recently painted.
The property is in Portland’s Foster-Powell neighborhood. Its backyard is landscaped and enclosed by fencing. Long-term tenants are in place.
The property is in Portland’s Foster-Powell neighborhood. Its backyard is landscaped and enclosed by fencing. Long-term tenants are in place.
Key Highlights
- 1924 construction
- 2,760 square feet
- Two apartments, each with 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,531
Cap Rate
7.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,620
$810.6K
Cap Rate 7%
$579,014
$579.0K
Cap Rate 9%
$450,344
$450.3K
Market Conditions
NOI Build-Up for 2,760 SF
Gross rent
$61.3K $22.20/SF
− Vacancy
−$3.4K −$1.22/SF
EGI
$57.9K $20.98/SF
− OpEx
−$17.4K −$6.29/SF
NOI
$40.5K $14.69/SF
Area
ZIP 97206
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,620
Cap Rate 7%
$579,014
Cap Rate 9%
$450,344
Alternative Uses
Best Use
Multifamily LT 5
$579.0K
$506.6K – $675.5K
NOI $40,531 @ 7.0% cap · market cap 7.17%
Second Best
Apartment 5plus
$519.2K
$454.3K – $605.7K
NOI $36,341 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$775.1K
$678.2K – $904.3K
NOI $54,255 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
797
Businesses Nearby
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Business Placement
Demographics for 97206, OR
51,072
Population
22,348
Households
2.3
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
7,857
Density / Sq Mi
$94,233
Median Household Income
$54,254
Median Earnings
$1,693
Median Rent
$480,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences have long-term tenants, with shared laundry and storage in the basement.
Where is this duplex located?
The property is located at 3815 SE 64TH AVE Portland, OR.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 1924 construction; 2,760 square feet; Two apartments, each with 2 bedrooms and 1 bathroom
