Two-Unit Duplex with Recent
New
For Sale
$619,000
480 NE 18TH ST, Gresham, OR 97030
Each residence includes a garage, fenced backyard, and additional space for RV parking.
Property Size2,610 SF
Days on Market4
Property Features for 480 NE 18TH ST
General Information
Standard status
Active
Size
2,610 SF
Property subtype
MULTI_FAMILY
Occupancy
100%
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,887
Amenities
fenced backyard
RV parking space
Building Details
Building Size
2,610 SF
Year Built
1978
Tenancy
Multi
Listing Agency:
Realty One Group Prestige
Listed By:
Jules Williamson
(503) 498-8123
Source:
Eleeterealestate
Added: Oct 17
Changed: Oct 19
Last Checked: Oct 19 at 11:50AM
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 Realty One Group Prestige
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Investment Insights
Based on property information with market context.
This duplex contains two residences, each with 3 bedrooms, 1.5 bathrooms, and 1,305 square feet. Both have a one-car garage, driveway parking for two vehicles, a fenced backyard, and room for RV parking. Recent work includes new electric furnaces, HardiePlank siding, windows, and a roof. One residence has LVP flooring; the other has engineered hardwood flooring.
Both units are occupied by month-to-month tenants who have expressed interest in staying. Current rents are below their potential. The property is located near shopping, bus lines, and schools at 480 NE 18th ST in Gresham, Oregon. Built in 1978, the duplex contains 2,610 square feet in total.
Both units are occupied by month-to-month tenants who have expressed interest in staying. Current rents are below their potential. The property is located near shopping, bus lines, and schools at 480 NE 18th ST in Gresham, Oregon. Built in 1978, the duplex contains 2,610 square feet in total.
Key Highlights
- Two 3‑bedroom, 1.5‑bath units, each measuring 1,305 square feet
- New electric furnaces, HardiePlank siding, windows, and roof
- One‑car garage and driveway parking for two vehicles at each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,655
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$693,100
$693.1K
Cap Rate 7%
$495,071
$495.1K
Cap Rate 9%
$385,056
$385.1K
Market Conditions
NOI Build-Up for 2,610 SF
Gross rent
$51.7K $19.80/SF
− Vacancy
−$2.2K −$0.83/SF
EGI
$49.5K $18.97/SF
− OpEx
−$14.9K −$5.69/SF
NOI
$34.7K $13.28/SF
Area
Gresham, OR
Vacancy
4.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$693,100
Cap Rate 7%
$495,071
Cap Rate 9%
$385,056
Alternative Uses
Best Use
Multifamily LT 5
$495.1K
$433.2K – $577.6K
NOI $34,655 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$445.1K
$389.4K – $519.2K
NOI $31,154 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$596.4K
$521.9K – $695.8K
NOI $41,750 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,760
Businesses Nearby
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Business Placement
Demographics for 97030, OR
39,492
Population
16,500
Households
2.4
Avg Household Size
37
Median Age
21%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
5,266
Density / Sq Mi
$61,793
Median Household Income
$40,352
Median Earnings
$1,604
Median Rent
$418,100
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
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes a garage, fenced backyard, and additional space for RV parking.
Where is this duplex located?
The property is located at 480 NE 18TH ST Gresham, OR.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Two 3‑bedroom, 1.5‑bath units, each measuring 1,305 square feet; New electric furnaces, HardiePlank siding, windows, and roof; One‑car garage and driveway parking for two vehicles at each unit
