New-Construction Four-Unit
New
For Sale
$1,859,900
4996 NE 26th AVE, Portland, OR 97211
Four vacant residences offer private entrances, fenced outdoor areas, in-unit laundry, and modern two-story layouts.
Property Size4,304 SF
Days on Market5
Property Features for 4996 NE 26th AVE
General Information
Standard status
Active
Size
4,304 SF
Property subtype
MULTI_FAMILY
Building Details
Building Size
4,304 SF
Year Built
2026
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 709-4632
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Source:
Currangrouprealtors
Added: Aug 27
Changed: Aug 30
Last Checked: Aug 31 at 12:35AM
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.
Built in 2026, this quadplex contains four separately addressed, two-story residences at 4996 NE 26th AVE in Portland. The two end homes measure 1,123 square feet each, while the two interior homes measure 1,029 square feet each, totaling 4,304 rentable square feet. All residences are vacant and include two bedrooms, 2 1/2 bathrooms, private entries, and open main floors with connected kitchen, living, and dining areas. Each home also has in-unit laundry, dedicated storage, a heat pump, and a fenced outdoor area. The end units offer additional windows and exterior exposure, while the south-end residence has a level sidewalk entrance.
The property is positioned near NE Alberta Street and the Alberta Arts District, with a Walk Score of 91 and a Bike Score of 100. Pine State Biscuits, Great Notion, Salt & Straw, Alberta Rose Theatre, New Seasons Market, neighborhood galleries, boutiques, coffee shops, and transit are nearby. Each residence includes a 2-10 Builder Warranty.
The property is positioned near NE Alberta Street and the Alberta Arts District, with a Walk Score of 91 and a Bike Score of 100. Pine State Biscuits, Great Notion, Salt & Straw, Alberta Rose Theatre, New Seasons Market, neighborhood galleries, boutiques, coffee shops, and transit are nearby. Each residence includes a 2-10 Builder Warranty.
Key Highlights
- Four separately addressed residences totaling 4,304 rentable square feet
- Two end units at 1,123 square feet each; two interior units at 1,029 square feet each
- Each residence includes 2 bedrooms, 2 1/2 bathrooms, and in‑unit laundry
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
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 vacant residences offer private entrances, fenced outdoor areas, in-unit laundry, and modern two-story layouts.
Where is this quadplex located?
The property is located at 4996 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 square feet; Two end units at 1,123 square feet each; two interior units at 1,029 square feet each; Each residence includes 2 bedrooms, 2 1/2 bathrooms, and in‑unit laundry
