24-Unit Apartment
For Sale
$4,350,000
4620 N MARYLAND Ave, Portland, OR 97217
MultiFamily, Portland, OR
Property Size10,596 SF
Lot Size0.11 Acres
Price / SF$410.53
Days on Market510
Property Features for 4620 N MARYLAND Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
CM3
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1
Subdivision
Overlook
View
City
Elementary school
Beach
Middle school
Ockley Green
High school
Jefferson
Directions
N Interstate Ave & N Blandena St
Standard status
Active
APN
R210471
Size
10,596 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
M PATTONS ADD & 2ND, BLOCK 9, LOT 1 TL 4800
Tax Annual Amount
51333
Legal Description
M PATTONS ADD & 2ND, BLOCK 9, LOT 1 TL 4800
Utilities
Heating system
Ductless (Heating)
Building Details
Year built
2018
Floors in Building
3
Number of units
24
Roof type
Flat
Listing Agency:
Kelly Right Real Estate of Portland, LLC
(503) 719-6056
Listed By:
Jacob Serrill · License #OR 201228311
(503) 780-7521
Added: Jun 11, 2025
Changed: Oct 20
Last Checked: Nov 2 at 4:06PM
MLS# 713931810
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.
This 24-unit apartment building contains 10,596 square feet on a 0.11-acre parcel and was completed in 2018. The property is fully occupied and features a flat roof, ductless heating, and CM3 zoning. Its apartment configuration includes bedroom and bathroom accommodations, with contemporary construction suited to current residential use.
Located at 4620 N Maryland Ave in Portland, the property is near the Mississippi Avenue district and offers access to I-5 and MAX light rail. The property also includes an assumable loan at 3.370% interest through June 2030.
Located at 4620 N Maryland Ave in Portland, the property is near the Mississippi Avenue district and offers access to I-5 and MAX light rail. The property also includes an assumable loan at 3.370% interest through June 2030.
Key Highlights
- 24‑unit apartment building completed in 2018
- 10,596 square feet on a 0.11‑acre parcel
- Fully occupied residential property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$136,052
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,721,040
$2.7M
Cap Rate 7%
$1,943,600
$1.9M
Cap Rate 9%
$1,511,689
$1.5M
Market Conditions
NOI Build-Up for 10,596 SF
Gross rent
$260.7K $24.60/SF
− Vacancy
−$13.3K −$1.25/SF
EGI
$247.4K $23.35/SF
− OpEx
−$111.3K −$10.51/SF
NOI
$136.1K $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%
$2,721,040
Cap Rate 7%
$1,943,600
Cap Rate 9%
$1,511,689
Alternative Uses
Best Use
Apartment 5plus
$1.94M
$1.70M – $2.27M
NOI $136,052 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.98M
$2.60M – $3.47M
NOI $208,293 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
24
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,430
Businesses Nearby
Explore this area
Business Placement
Demographics for 97217, OR
36,086
Population
17,038
Households
2.1
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
11.1 sq mi
ZIP Area
3,251
Density / Sq Mi
$100,387
Median Household Income
$56,790
Median Earnings
$1,789
Median Rent
$569,500
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
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied 2018 apartment property near Mississippi Avenue, I-5, and MAX light rail access.
Where is this apartment building located?
The property is located at 4620 N MARYLAND Ave Portland, OR.
What is the asking price?
The asking price for this property is $4,350,000.
What are key features of this property?
This property features: 24‑unit apartment building completed in 2018; 10,596 square feet on a 0.11‑acre parcel; Fully occupied residential property
