New Construction Four-Unit
For Sale
$1,295,000
4690 N Congress Ave, Portland, OR 97217
Four townhome-style residences feature contemporary finishes, individual outdoor areas, and efficient two-bedroom layouts.
Property Size2,700 SF
Price / SF$479.63
Days on Market46
Property Features for 4690 N Congress Ave
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
2025
Buildings
1
Listing Agency:
Kelly Right Real Estate of Portland, LLC
(503) 719-6056
Listed By:
Jordan Tietz · License #201222867
Source:
Kingdomreal
Added: Jul 17
Changed: Aug 29
Last Checked: Aug 30 at 8:05PM
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 Kelly Right Real Estate of Portland, LLC
Investment Insights
Based on property information with market context.
Completed in 2025, this Portland quadplex contains four townhome-style units, each arranged with two bedrooms and one bathroom. Interior features include high-end appliances, modern cabinetry, tile finishes, LVP flooring, tall ceilings, and abundant windows. Each residence also includes a private deck or yard, supported by the property's corner-lot configuration.
The property is located at 4690 N Congress Ave, near the Albina, Mississippi, and Williams areas. A Home Energy Score of 10 adds a documented efficiency feature to the newer construction. The four-unit layout offers a consistent configuration across the property, with each residence providing the same bedroom and bathroom count.
The property is located at 4690 N Congress Ave, near the Albina, Mississippi, and Williams areas. A Home Energy Score of 10 adds a documented efficiency feature to the newer construction. The four-unit layout offers a consistent configuration across the property, with each residence providing the same bedroom and bathroom count.
Key Highlights
- Four‑unit quadplex completed in 2025
- Each unit includes 2 bedrooms and 1 bathroom
- Corner‑lot layout provides a private deck or yard for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,626
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$752,520
$752.5K
Cap Rate 7%
$537,514
$537.5K
Cap Rate 9%
$418,067
$418.1K
Market Conditions
NOI Build-Up for 2,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$56.7K $21.00/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$53.8K $19.91/SF
− OpEx
−$16.1K −$5.97/SF
NOI
$37.6K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$752,520
Cap Rate 7%
$537,514
Cap Rate 9%
$418,067
Alternative Uses
Best Use
Multifamily LT 5
$537.5K
$470.3K – $627.1K
NOI $37,626 @ 7.0% cap · market cap 2.91%
Second Best
Apartment 5plus
$495.3K
$433.4K – $577.8K
NOI $34,668 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$758.2K
$663.5K – $884.6K
NOI $53,076 @ 7.0% cap · market cap 4.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,583
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four townhome-style residences feature contemporary finishes, individual outdoor areas, and efficient two-bedroom layouts.
Where is this quadplex located?
The property is located at 4690 N Congress Ave Portland, OR.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Four‑unit quadplex completed in 2025; Each unit includes 2 bedrooms and 1 bathroom; Corner‑lot layout provides a private deck or yard for each residence
