Renovated 4-Plex Residential
For Sale
$875,000
4724 NE 101ST AVE, Portland, OR 97220
Fully rented 4-plex built in 2005 and renovated in 2014, offering 2-bedroom, 2-bath units with washer/dryer hookups.
Property Size4,320 SF
Price / SF$202.55
Days on Market625
Property Features for 4724 NE 101ST AVE
General Information
Standard status
Active
Size
4,320 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
CG
Occupancy
100%
Net Operating Income
$52,920
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$10,375
Amenities
Attached
CrawlSpace
Electricity
UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4
Gas
2
Refrigerator,WasherDryerHookup
1560
1
1550
1520
1530
Level
PublicWater
4.0
50 x 100
0.12
Assigned,OffStreet
Paved
ConcretePerimeter
4320.0
CementSiding,WoodSiding
Building Details
Building Size
4,320 SF
Year Built
2005
Year Renovated
2014
Stories
2
Tenancy
Multi
Listing Agency:
Rarebird Real Estate
(971) 271-8932
Listed By:
Charles "Bud" Garrison
(503) 679-1893
Source:
Premierepropertygroup
Added: Jan 1, 2025
Changed: Sep 17
Last Checked: Sep 16 at 3:02PM
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 Rarebird Real Estate
Investment Insights
Based on property information with market context.
This fully rented 4-plex features four 2-bedroom, 2-bath units. Each unit includes a living area, a washer and dryer hookup closet, and a storage room. The bottom units have fenced backyards, while the upstairs units offer front and back balconies.
Built in 2005 and renovated throughout in 2014, the property is set up as a straightforward residential income asset. Offers are to be contingent on an interior inspection, and tenants should not be disturbed.
Each unit’s consistent layout and included in-unit hookups support day-to-day occupancy, with outdoor space differences between the bottom and upstairs units.
Built in 2005 and renovated throughout in 2014, the property is set up as a straightforward residential income asset. Offers are to be contingent on an interior inspection, and tenants should not be disturbed.
Each unit’s consistent layout and included in-unit hookups support day-to-day occupancy, with outdoor space differences between the bottom and upstairs units.
Key Highlights
- Fully rented 4‑plex built in 2005 and renovated throughout in 2014
- 4 units total, each with 2 bedrooms and 2 full baths
- Unit rents: $1,560 (Unit 1), $1,550 (Unit 2), $1,520 (Unit 3), $1,530 (Unit 4)
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
$60,202
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
6.88%
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%
$1,204,040
$1.2M
Cap Rate 7%
$860,029
$860.0K
Cap Rate 9%
$668,911
$668.9K
Market Conditions
NOI Build-Up for 4,320 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
$90.7K $21.00/SF
− Vacancy
−$4.7K −$1.09/SF
EGI
$86.0K $19.91/SF
− OpEx
−$25.8K −$5.97/SF
NOI
$60.2K $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%
$1,204,040
Cap Rate 7%
$860,029
Cap Rate 9%
$668,911
Alternative Uses
Best Use
Multifamily LT 5
$860.0K
$752.5K – $1.00M
NOI $60,202 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$792.4K
$693.4K – $924.5K
NOI $55,469 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$1.21M
$1.06M – $1.42M
NOI $84,921 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
Explore this area
Business Placement
Demographics for 97220, OR
29,357
Population
12,177
Households
2.4
Avg Household Size
39
Median Age
35%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
3,914
Density / Sq Mi
$68,976
Median Household Income
$41,696
Median Earnings
$1,412
Median Rent
$427,700
Median Home Value
Check the figures for this property
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 - Fully rented 4-plex built in 2005 and renovated in 2014, offering 2-bedroom, 2-bath units with washer/dryer hookups.
Where is this quadplex located?
The property is located at 4724 NE 101ST AVE Portland, OR.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Fully rented 4‑plex built in 2005 and renovated throughout in 2014; 4 units total, each with 2 bedrooms and 2 full baths; Unit rents: $1,560 (Unit 1), $1,550 (Unit 2), $1,520 (Unit 3), $1,530 (Unit 4)
