Multifamily Property with Accessory Dwelling
New
For Sale
$965,000
4249 Se Stark St, Portland, OR 97215
A permitted lower-level apartment includes a separate entrance, kitchen, bathroom, and living area.
Property Size3,777 SF
Price / SF$255.49
Days on Market3
Property Features for 4249 Se Stark St
General Information
Standard status
Active
Size
3,777 SF
Property subtype
MultiFamily
Zoning
R5
Site & Location
Neighborhood
Southeast
Taxes and HOA fees
Annual Taxes
$10,117
Amenities
ExteriorEntry,Finished,SeparateLivingQuartersApartmentAuxLivingUnit
UnitTypeType1,UnitTypeType2,UnitTypeType3
Electricity,Gas
1
3
AirConditioning,Microwave,Range,Refrigerator
AirConditioning,Fireplace,HardwoodFloors,Refrigerator
2
1500
1450
Level
PublicWater
3.0
OffStreet,Paved
Paved
ConcretePerimeter
3777.0
WoodSiding
Building Details
Building Size
3,777 SF
Year Built
1923
Stories
3
Listing Agency:
(503) 755-9493
Listed By:
Adriana Focke
Source:
Checkpoint-realty
Added: Oct 30
Changed: Oct 31
Last Checked: Oct 31 at 3:28AM
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 Adriana Focke
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Investment Insights
Based on property information with market context.
This 3,777-square-foot multifamily property was built in 1923 and includes a detached ADU as well as a permitted lower-level apartment with its own entrance, kitchen, bathroom, and living area. The main residence has two bedrooms, two full bathrooms, and a den that can serve as an additional bedroom or office. A kitchen remodel was completed in 2023, and the home retains hardwood floors, built-ins, high ceilings, crown molding, and a fireplace. Additional upper-level and unfinished space provide further interior flexibility. Zoning is R5.
Off-street parking is accessed from a private street behind the property. Laurelhurst Park is a few blocks away, with restaurants, coffee shops, shopping, and theaters in the nearby Hawthorne, Belmont, Division, and SE 28th areas. The property has an 85 Walk Score and a 97 Bike Score.
Off-street parking is accessed from a private street behind the property. Laurelhurst Park is a few blocks away, with restaurants, coffee shops, shopping, and theaters in the nearby Hawthorne, Belmont, Division, and SE 28th areas. The property has an 85 Walk Score and a 97 Bike Score.
Key Highlights
- 3,777 square feet; built in 1923
- Detached ADU and permitted lower‑level apartment with separate entrance, kitchen, bathroom, and living area
- R5 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,497
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$969,940
$969.9K
Cap Rate 7%
$692,814
$692.8K
Cap Rate 9%
$538,856
$538.9K
Market Conditions
NOI Build-Up for 3,777 SF
Gross rent
$92.9K $24.60/SF
− Vacancy
−$4.7K −$1.25/SF
EGI
$88.2K $23.35/SF
− OpEx
−$39.7K −$10.51/SF
NOI
$48.5K $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%
$969,940
Cap Rate 7%
$692,814
Cap Rate 9%
$538,856
Alternative Uses
Best Use
Apartment 5plus
$692.8K
$606.2K – $808.3K
NOI $48,497 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$928.1K – $1.24M
NOI $74,247 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
3,116
Businesses Nearby
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Business Placement
Demographics for 97215, OR
18,221
Population
7,855
Households
2.3
Avg Household Size
40
Median Age
64%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
7,922
Density / Sq Mi
$114,361
Median Household Income
$62,704
Median Earnings
$1,587
Median Rent
$658,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - A permitted lower-level apartment includes a separate entrance, kitchen, bathroom, and living area.
Where is this multifamily property located?
The property is located at 4249 Se Stark St Portland, OR.
What is the asking price?
The asking price for this property is $965,000.
What are key features of this property?
This property features: 3,777 square feet; built in 1923; Detached ADU and permitted lower‑level apartment with separate entrance, kitchen, bathroom, and living area; R5 zoning
