Four-Unit Townhome
For Sale
$1,250,000
4690 N CONGRESS Ave, Portland, OR 97217
MultiFamily, Portland, OR
Property Size2,700 SF
Price / SF$462.96
Days on Market146
Property Features for 4690 N CONGRESS Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R2.5
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 2, Bathroom 1
Subdivision
Albina
View
City
Elementary school
Boise-Eliot
Middle school
Harriet Tubman
High school
Jefferson
Directions
N Congress and N Blandena
Standard status
Active
APN
R732299
Size
2,700 SF
Taxes and HOA fees
Tax Description
BLANDENA BLOCK CONDOMINIUMS, GENERAL COMMON ELEMENTS
Tax Annual Amount
8000
Legal Description
BLANDENA BLOCK CONDOMINIUMS, GENERAL COMMON ELEMENTS
Amenities
high end appliances
tasteful tile
modern cabinets
LVP flooring
tall ceilings
plentiful windows
private decks/yards
Building Details
Year built
2025
Floors in Building
2
Number of units
4
Roof type
Composition
Listing Agency:
Kelly Right Real Estate of Portland, LLC
(503) 719-6056
Listed By:
Jordan Tietz · License #201222867
(503) 910-0889
Added: May 14
Changed: Sep 30
Last Checked: Oct 6 at 11:06PM
MLS# 496250183
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.
Investment Insights
Based on property information with market context.
This four-unit quadplex contains two-bedroom, one-bathroom townhomes, with all residences completed in 2025. The 2,700-square-foot property is configured for residential rental use and carries R2.5 zoning. Each unit includes a kitchen with high-end appliances, tile finishes, and modern cabinetry, along with LVP flooring, tall ceilings, and abundant windows.
Situated on a corner lot, the property provides a private deck or yard for each residence. The units are located blocks from Albina, Mississippi, and Williams. Additional property details include a composition roof and a Home Energy Score of 10.
Situated on a corner lot, the property provides a private deck or yard for each residence. The units are located blocks from Albina, Mississippi, and Williams. Additional property details include a composition roof and a Home Energy Score of 10.
Key Highlights
- Four two‑bedroom, one‑bathroom townhome units
- 2,700 square feet completed in 2025
- R2.5 zoning for the quadplex property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,626
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
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
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 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 3.01%
Second Best
Apartment 5plus
$495.3K
$433.4K – $577.8K
NOI $34,668 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$758.2K
$663.5K – $884.6K
NOI $53,076 @ 7.0% cap · market cap 4.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Townhome-style residences offer private outdoor areas, contemporary finishes, 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 $1,250,000.
What are key features of this property?
This property features: Four two‑bedroom, one‑bathroom townhome units; 2,700 square feet completed in 2025; R2.5 zoning for the quadplex property
