Triplex with Vacant
New
For Sale
$429,000
4731 Ne 62nd Ave, Portland, OR 97218
Combined duplex and detached home with on-site parking, a rear carport, and one unit available for occupancy.
Property Size1,987 SF
Price / SF$215.90
Days on Market7
Property Features for 4731 Ne 62nd Ave
General Information
Standard status
Active
Size
1,987 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1923
Buildings
2
Listing Agency:
Keller Williams Realty Professionals
Listed By:
Bradley Wulf
(503) 546-9955
Source:
Heartandhomesnw
Added: Sep 11
Changed: Sep 15
Last Checked: Sep 16 at 9:38PM
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 Keller Williams Realty Professionals
Investment Insights
Based on property information with market context.
This triplex combines a duplex with a separate detached house on one tax lot, creating three residential units within a 1,987-square-foot property built in 1923. Two units are currently rented, while the remaining duplex unit is vacant and ready for occupancy. On-site parking is provided, including a carport serving the rear unit.
The property is located at 4731 NE 62nd AVE in Portland, Oregon. A Home Energy Score of 5 is documented, and upgrades have been completed at the property.
The property is located at 4731 NE 62nd AVE in Portland, Oregon. A Home Energy Score of 5 is documented, and upgrades have been completed at the property.
Key Highlights
- Triplex configuration includes a duplex and detached house on one tax lot
- 1,987 square feet; built in 1923
- Two units rented; additional duplex unit is vacant
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
$27,690
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
6.45%
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%
$553,800
$553.8K
Cap Rate 7%
$395,571
$395.6K
Cap Rate 9%
$307,667
$307.7K
Market Conditions
NOI Build-Up for 1,987 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
$41.7K $21.00/SF
− Vacancy
−$2.2K −$1.09/SF
EGI
$39.6K $19.91/SF
− OpEx
−$11.9K −$5.97/SF
NOI
$27.7K $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%
$553,800
Cap Rate 7%
$395,571
Cap Rate 9%
$307,667
Alternative Uses
Best Use
Multifamily LT 5
$395.6K
$346.1K – $461.5K
NOI $27,690 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$364.5K
$318.9K – $425.2K
NOI $25,513 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$558.0K
$488.3K – $651.0K
NOI $39,060 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Explore this area
Business Placement
Demographics for 97218, OR
14,748
Population
6,440
Households
2.3
Avg Household Size
38
Median Age
51%
College-Educated
91%
High-School Grad
6.7 sq mi
ZIP Area
2,201
Density / Sq Mi
$81,367
Median Household Income
$45,830
Median Earnings
$1,440
Median Rent
$493,300
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?
Triplex - Combined duplex and detached home with on-site parking, a rear carport, and one unit available for occupancy.
Where is this triplex located?
The property is located at 4731 Ne 62nd Ave Portland, OR.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Triplex configuration includes a duplex and detached house on one tax lot; 1,987 square feet; built in 1923; Two units rented; additional duplex unit is vacant
