5-Unit Apartment
4428 SE 42nd Ave, Portland, OR 97206
For Sale
$999,000
CM1-zoned property offers basement storage, coin-operated laundry, and a two-car garage.
Property Size3,627 SF
Price / SF$275.43
Days on Market39
Property Features for 4428 SE 42nd Ave
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Public Transit
Additional Details
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
coin metered laundry
individual storage spaces
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Metro Group Realty
Listed By:
Thomas DeMonbrun · License OR #911100021
(503) 341-5026
Source:
Jmannrealty
Added: Oct 7
Changed: Nov 11
Last Checked: Nov 13 at 7:53AM
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 Metro Group Realty
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Investment Insights
Based on property information with market context.
This 3,627-square-foot apartment property was built in 1959 and contains five units. One apartment is vacant and undergoing remodeling. The front unit has two bedrooms, two fireplaces, and access to a finished basement area and a two-car garage. Basement features include individual storage spaces, a locked owner workspace, and coin-operated laundry. The property has a 2024 roof, newer vinyl windows, and newer paint.
The building is at 4428 SE 42nd Ave in Portland, on a bus line. Trader Joe’s, New Seasons, Reed College, coffee shops, and the Woodstock shopping district are nearby. Zoning is CM1.
The building is at 4428 SE 42nd Ave in Portland, on a bus line. Trader Joe’s, New Seasons, Reed College, coffee shops, and the Woodstock shopping district are nearby. Zoning is CM1.
Key Highlights
- Five‑unit apartment property totaling 3,627 square feet
- Built in 1959; roof replaced in 2024
- One vacant unit is being remodeled
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,757
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$955,140
$955.1K
Cap Rate 7%
$682,243
$682.2K
Cap Rate 9%
$530,633
$530.6K
Market Conditions
NOI Build-Up for 3,627 SF
Gross rent
$91.4K $25.20/SF
− Vacancy
−$4.6K −$1.26/SF
EGI
$86.8K $23.94/SF
− OpEx
−$39.1K −$10.77/SF
NOI
$47.8K $13.17/SF
Area
ZIP 97206
Vacancy
5.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$955,140
Cap Rate 7%
$682,243
Cap Rate 9%
$530,633
Alternative Uses
Best Use
Apartment 5plus
$682.2K
$597.0K – $796.0K
NOI $47,757 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$891.2K – $1.19M
NOI $71,299 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
961
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
$480,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Portland, OR
Properties on Market for Apartment buildings in Portland
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - CM1-zoned property offers basement storage, coin-operated laundry, and a two-car garage.
Where is this apartment building located?
The property is located at 4428 SE 42nd Ave Portland, OR.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Five‑unit apartment property totaling 3,627 square feet; Built in 1959; roof replaced in 2024; One vacant unit is being remodeled
