New Construction Fourplex with Private
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For Sale
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4994 NE 26th Ave, Portland, OR 97211
Four two-story residences combine private entrances, in-unit laundry, efficient heat pumps, and fenced outdoor space.
Property Size4,304 SF
Price / SF$432.13
Days on Market4
Property Features for 4994 NE 26th Ave
General Information
Standard status
Active
Size
4,304 SF
Net Rentable
4,304 SF
Class
A
Property subtype
Multifamily
Zoning
CM2
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 2BR/2.5BA
Multifamily Units
4
Amenities
private fenced outdoor areas
bicycle parking
in-unit laundry
Building Details
Year Built
2026
Buildings
1
Stories
2
Units
4
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
Source:
Crexi
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 8:35AM
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 Portland Premiere
Investment Insights
Based on property information with market context.
Completed in 2026, this CM2-zoned quadplex contains four separately addressed, two-story residences totaling 4,304 rentable square feet. The layout includes two end homes of 1,123 square feet each and two interior homes measuring 1,029 square feet each. Every residence has two bedrooms, 2½ bathrooms, a private entry, an open kitchen, living, and dining arrangement, in-unit laundry, storage, and a fenced outdoor area. Heat pumps provide heating and cooling, while dedicated bicycle storage and a 2-10 Builder Warranty accompany each home. The residences are vacant and ready for lease-up.
The property is located at 4994 NE 26th Ave in Portland’s Concordia area, near NE Alberta Street. Walk Score is 91 and Bike Score is 100, with nearby access to Pine State Biscuits, Great Notion, Salt & Straw, Alberta Rose Theatre, New Seasons Market, neighborhood galleries, boutiques, coffee shops, transit, and the Alberta Arts District.
The property is located at 4994 NE 26th Ave in Portland’s Concordia area, near NE Alberta Street. Walk Score is 91 and Bike Score is 100, with nearby access to Pine State Biscuits, Great Notion, Salt & Straw, Alberta Rose Theatre, New Seasons Market, neighborhood galleries, boutiques, coffee shops, transit, and the Alberta Arts District.
Key Highlights
- Four separately addressed residences totaling 4,304 rentable SF
- Two end units at 1,123 SF each; two interior units at 1,029 SF each
- Each residence includes 2 bedrooms and 2½ bathrooms
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
$59,979
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
3.22%
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%
$1,199,580
$1.2M
Cap Rate 7%
$856,843
$856.8K
Cap Rate 9%
$666,433
$666.4K
Market Conditions
NOI Build-Up for 4,304 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
$90.4K $21.00/SF
− Vacancy
−$4.7K −$1.09/SF
EGI
$85.7K $19.91/SF
− OpEx
−$25.7K −$5.97/SF
NOI
$60.0K $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%
$1,199,580
Cap Rate 7%
$856,843
Cap Rate 9%
$666,433
Alternative Uses
Best Use
Multifamily LT 5
$856.8K
$749.7K – $999.7K
NOI $59,979 @ 7.0% cap · market cap 3.22%
Second Best
Apartment 5plus
$789.5K
$690.8K – $921.1K
NOI $55,263 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,607 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
906
Businesses Nearby
Explore this area
Business Placement
Demographics for 97211, OR
33,762
Population
15,106
Households
2.2
Avg Household Size
38
Median Age
56%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,755
Density / Sq Mi
$109,604
Median Household Income
$59,171
Median Earnings
$1,818
Median Rent
$616,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four two-story residences combine private entrances, in-unit laundry, efficient heat pumps, and fenced outdoor space.
Where is this quadplex located?
The property is located at 4994 NE 26th Ave Portland, OR.
What is the asking price?
The asking price for this property is $1,859,900.
What are key features of this property?
This property features: Four separately addressed residences totaling 4,304 rentable SF; Two end units at 1,123 SF each; two interior units at 1,029 SF each; Each residence includes 2 bedrooms and 2½ bathrooms
