Single-Story 6-Plex with
54 Northwest 13th Street Gresham, OR 97030
54 Northwest 13th Street, Gresham, OR, 97030
$980,000
For Sale
$980,000
Single-story 6-plex offers 2-bedroom, 1-bath units with private back patios and fenced parking.
Property Size5,304 SF
Price / SF$184.77
Days on Market304
Property Features for 54 Northwest 13th Street
General Information
- Standard status
- Active
- Size
- 5,304 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1965
Listing agency
Kelly Right Real Estate of Portland, LLC
(425) 310-2033
Listed by
Kelvin Chao · License #201258480
(425) 310-2033
Source
Compass
Added: Sep 21, 2025 Updated: Jul 20 at 10:48PM Checked: Jul 20 at 10:48PM
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 Kelly Right Real Estate of Portland, LLC
Investment Insights
Based on property information with market context.
Located at 54 Northwest 13th Street in Gresham, Oregon, this single-story 6-plex features 2-bedroom, 1-bath units with private back patios for each resident. The property includes a fenced lot and a designated parking lot, along with a dedicated owner/manager office on-site for day-to-day management.
Recent improvements include a newer roof from 2021. Additional on-site income is generated through coin-operated laundry machines. Public remarks also note a history of low vacancy rates and long-term tenants, and that current rents are slightly below market rate.
For tenants, the configuration supports straightforward residential living, with each unit having direct private outdoor space and parking contained within the property’s fenced area.
Recent improvements include a newer roof from 2021. Additional on-site income is generated through coin-operated laundry machines. Public remarks also note a history of low vacancy rates and long-term tenants, and that current rents are slightly below market rate.
For tenants, the configuration supports straightforward residential living, with each unit having direct private outdoor space and parking contained within the property’s fenced area.
Key Highlights
- Single‑story 6‑plex built in 1965 with 2‑bedroom, 1‑bath units
- Private back patios for each unit and a fenced property with a designated parking lot
- Newer roof installed in 2021; composition roof with brick and other exterior
Local 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 | $22.56 |
| − Vacancy | −$4.5k | −$0.86 |
| EGI | $115.1k | $21.70 |
| − OpEx | −$51.8k | −$9.77 |
| NOI | $63.3k | $11.94 |
5,304 SF · lease $22.56/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$904.4K
$791.4K – $1.06M
NOI $63,311 @ 7.0% cap · market cap 6.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,843 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Single-story 6-plex offers 2-bedroom, 1-bath units with private back patios and fenced parking.
Where is this apartment building located?
The property is located at 54 Northwest 13th Street Gresham, OR.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: Single‑story 6‑plex built in 1965 with 2‑bedroom, 1‑bath units; Private back patios for each unit and a fenced property with a designated parking lot; Newer roof installed in 2021; composition roof with brick and other exterior
