New Construction
For Sale
$1,594,600
3940 SE IVON St, Portland, OR 97202
MultiFamily, Portland, OR
Property Size3,300 SF
Price / SF$483.21
Days on Market57
Property Features for 3940 SE IVON St
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R
Bedrooms
7
Bathrooms
11
Full bathrooms
11
Rooms
Bathroom 4, Bathroom 6, Bedroom 7, Bedroom 2, Bathroom 1, Bathroom 10, Bathroom 5, Bedroom 6, Bathroom 8, Bathroom 9, Bathroom 7, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 3, Bathroom 11, Bedroom 5
Elementary school
Creston
Middle school
Hosford
High school
Franklin
Directions
From SE Division St, south on SE Cesar E. Chavez Blvd, east on SE Ivon St. Property on right
Subdivision
_143
Standard status
Active
APN
New Construction
Size
3,300 SF
Taxes and HOA fees
Tax Description
RICHMOND ADD, BLOCK 5, W 33 1/3' OF LOT 9
Tax Annual Amount
433
Legal Description
RICHMOND ADD, BLOCK 5, W 33 1/3' OF LOT 9
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Building Details
Year built
2026
Floors in Building
2
Number of units
4
Roof type
Composition
Listing Agency:
Matin Real Estate
(503) 447-3599
Listed By:
Vince Kinney
(503) 840-2627
Added: Sep 3
Changed: Oct 28
Last Checked: Oct 29 at 1:06AM
MLS# 203236971
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.
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Investment Insights
Based on property information with market context.
Under construction for 2026, this 3,300-square-foot quadplex includes four residences with functional two-level layouts. Interior features include LVP flooring on main levels, quartz kitchen countertops, islands or eatbars, stainless steel appliances, in-home laundry, carpeted bedrooms, walk-in closets, and bathrooms with private ensuites in select units. Sliding doors connect dining areas to patios and fenced yards, while vaulted attic areas with skylights add flexible space and natural light.
The property is zoned R and located at 3940 SE IVON St in Portland’s 97202 ZIP code, near Division and local attractions. Each home is designed with all-electric systems, including ductless heat pumps, heat pump water heating, ENERGY STAR appliances and bath fans, and an energy recovery ventilation system. The homes are EPS Certified and ENERGY STAR certified, with solar-ready infrastructure and a building envelope designed for improved energy performance.
The property is zoned R and located at 3940 SE IVON St in Portland’s 97202 ZIP code, near Division and local attractions. Each home is designed with all-electric systems, including ductless heat pumps, heat pump water heating, ENERGY STAR appliances and bath fans, and an energy recovery ventilation system. The homes are EPS Certified and ENERGY STAR certified, with solar-ready infrastructure and a building envelope designed for improved energy performance.
Key Highlights
- Four‑unit property under construction with 2026 completion year
- 3,300 square feet across four two‑level residences
- R zoning and Portland 97202 location near Division
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,949
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$958,980
$959.0K
Cap Rate 7%
$684,986
$685.0K
Cap Rate 9%
$532,767
$532.8K
Market Conditions
NOI Build-Up for 3,300 SF
Gross rent
$73.3K $22.20/SF
− Vacancy
−$4.8K −$1.44/SF
EGI
$68.5K $20.76/SF
− OpEx
−$20.5K −$6.23/SF
NOI
$47.9K $14.53/SF
Area
ZIP 97202
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$958,980
Cap Rate 7%
$684,986
Cap Rate 9%
$532,767
Alternative Uses
Best Use
Multifamily LT 5
$685.0K
$599.4K – $799.2K
NOI $47,949 @ 7.0% cap · market cap 3.01%
Second Best
Apartment 5plus
$636.0K
$556.5K – $742.0K
NOI $44,521 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$787.3K
$688.9K – $918.5K
NOI $55,110 @ 7.0% cap · market cap 3.46%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,520
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residences feature two-level layouts, private outdoor areas, modern kitchens, and energy-efficient all-electric systems.
Where is this quadplex located?
The property is located at 3940 SE IVON St Portland, OR.
What is the asking price?
The asking price for this property is $1,594,600.
What are key features of this property?
This property features: Four‑unit property under construction with 2026 completion year; 3,300 square feet across four two‑level residences; R zoning and Portland 97202 location near Division
