Portland Apartment
5203 NE 16th Avenue Portland, OR 97211
For Sale
$1,300,000
Six studio units and one three-bedroom unit are fully occupied, with recent exterior and interior updates.
Property Size4,864 SF
Price / SF$267.27
Days on Market166
Property Features for 5203 NE 16th Avenue
General Information
- Standard status
- Active
- Size
- 4,864 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1926
Listing Agency:
Living Room Realty
Listed By:
Devin Arthurs
(877) 319-7625
Source:
Century21northhomes
Added: Feb 7
Changed: Jul 22
Last Checked: Jul 23 at 8:00AM
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 Living Room Realty
Investment Insights
Based on property information with market context.
This classic apartment building includes six studio units and one three-bedroom unit. All units are currently occupied. The property has been carefully maintained and managed by the same owners for the last few decades.
Recent updates include new exterior paint in 2025, updated PEX water lines, newer water heaters, flooring and counter updates, and newer gas furnaces for each unit.
With a mix of studio and three-bedroom layouts, the building provides rental housing variety within a single multifamily property.
Recent updates include new exterior paint in 2025, updated PEX water lines, newer water heaters, flooring and counter updates, and newer gas furnaces for each unit.
With a mix of studio and three-bedroom layouts, the building provides rental housing variety within a single multifamily property.
Key Highlights
- Apartment building built in 1926 with six studio units and one 3‑bedroom unit
- All units are currently occupied
- Recent updates include new exterior paint (2025)
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $119.7k | $24.60 |
| − Vacancy | −$6.1k | −$1.25 |
| EGI | $113.6k | $23.35 |
| − OpEx | −$51.1k | −$10.51 |
| NOI | $62.5k | $12.84 |
4,864 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$892.2K
$780.7K – $1.04M
NOI $62,454 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.59M
NOI $95,615 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Six studio units and one three-bedroom unit are fully occupied, with recent exterior and interior updates.
Where is this apartment building located?
The property is located at 5203 NE 16th Avenue Portland, OR.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Apartment building built in 1926 with six studio units and one 3‑bedroom unit; All units are currently occupied; Recent updates include new exterior paint (2025)
