Triplex with Vacant
New
For Sale
$429,000
4731 NE 62ND Ave, Portland, OR 97218
MultiFamily, Portland, OR
Property Size1,987 SF
Lot Size0.20 Acres
Price / SF$215.90
Days on Market7
Property Features for 4731 NE 62ND Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R7H
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1, Bathroom 3, Bedroom 4, Bedroom 3, Bedroom 5
Elementary school
Rigler
Middle school
Roseway Heights
High school
Leodis McDaniel
Directions
Prescott, N on Cully, N on 62nd.
Subdivision
_142
Standard status
Active
APN
R596341
Size
1,987 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
PARTITION PLAT 2007-38, LOT 1
Tax Annual Amount
2458
Legal Description
PARTITION PLAT 2007-38, LOT 1
Utilities
Heating system
Forced Air
Building Details
Year built
1923
Floors in Building
1
Number of units
3
Roof type
Built-Up, Composition
Listing Agency:
Keller Williams Realty Professionals
(503) 546-9955
Listed By:
Bradley Wulf
(503) 422-8673
Added: Sep 11
Changed: Sep 14
Last Checked: Sep 17 at 12:06PM
MLS# 794853348
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 residential income property combines a duplex and a separate house into a three-unit configuration on one tax lot. The improvements total 1,987 square feet and date to 1923, with forced-air heating and built-up and composition roofing. Some upgrades have been completed, and the property includes on-site parking plus a carport serving the rear unit.
Two of the three units are occupied: the house and one duplex residence. The remaining duplex unit is vacant and ready for occupancy. The property sits on 0.2 acres and carries R7H zoning. A Home Energy Score of 5 is also reported.
Two of the three units are occupied: the house and one duplex residence. The remaining duplex unit is vacant and ready for occupancy. The property sits on 0.2 acres and carries R7H zoning. A Home Energy Score of 5 is also reported.
Key Highlights
- Three‑unit property combining a duplex and detached house on one tax lot
- 1,987 square feet of improvements on 0.2 acres
- One duplex unit is vacant and ready for occupancy
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
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?
Triplex - Combined duplex and detached house provide three residential units on one tax lot.
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: Three‑unit property combining a duplex and detached house on one tax lot; 1,987 square feet of improvements on 0.2 acres; One duplex unit is vacant and ready for occupancy
