Fourplex with Vacant
For Sale
$839,999
5405 SE Lafayette St, Portland, OR 97206
Four residential units share a practical two-bedroom, one-bath configuration, with one unit currently available for occupancy.
Property Size3,300 SF
Price / SF$254.55
Days on Market44
Property Features for 5405 SE Lafayette St
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1970
Buildings
1
Listing Agency:
John L. Scott
(503) 679-8198
Listed By:
Blake Byzewski · License #201201040
Source:
Kingdomreal
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 30 at 8:59PM
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 John L. Scott
Investment Insights
Based on property information with market context.
This fourplex contains four residential units within approximately 3,300 square feet. Each unit is configured with two bedrooms and one bathroom, providing a consistent layout across the property. The building was constructed in 1970.
Three units are currently rented, while the fourth is vacant. The property is located at 5405 SE Lafayette St in Portland, Oregon, within the 97206 ZIP code. Its four-unit configuration and current mix of occupied and vacant residences provide a clear overview of the existing rental setup.
Three units are currently rented, while the fourth is vacant. The property is located at 5405 SE Lafayette St in Portland, Oregon, within the 97206 ZIP code. Its four-unit configuration and current mix of occupied and vacant residences provide a clear overview of the existing rental setup.
Key Highlights
- Fourplex with 4 total residential units
- Each unit includes 2 bedrooms and 1 bathroom
- Approximately 3,300 square feet
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
$48,461
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
5.77%
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%
$969,220
$969.2K
Cap Rate 7%
$692,300
$692.3K
Cap Rate 9%
$538,456
$538.5K
Market Conditions
NOI Build-Up for 3,300 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
$73.3K $22.20/SF
− Vacancy
−$4.0K −$1.22/SF
EGI
$69.2K $20.98/SF
− OpEx
−$20.8K −$6.29/SF
NOI
$48.5K $14.69/SF
Area
ZIP 97206
Vacancy
5.50%
Lease Rate
$22.20 /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%
$969,220
Cap Rate 7%
$692,300
Cap Rate 9%
$538,456
Alternative Uses
Best Use
Multifamily LT 5
$692.3K
$605.8K – $807.7K
NOI $48,461 @ 7.0% cap · market cap 5.77%
Second Best
Apartment 5plus
$620.7K
$543.1K – $724.2K
NOI $43,451 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$926.7K
$810.9K – $1.08M
NOI $64,871 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
936
Businesses Nearby
Explore this area
Business Placement
Demographics for 97206, OR
51,072
Population
22,348
Households
2.3
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
7,857
Density / Sq Mi
$94,233
Median Household Income
$54,254
Median Earnings
$1,693
Median Rent
$480,500
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 residential units share a practical two-bedroom, one-bath configuration, with one unit currently available for occupancy.
Where is this quadplex located?
The property is located at 5405 SE Lafayette St Portland, OR.
What is the asking price?
The asking price for this property is $839,999.
What are key features of this property?
This property features: Fourplex with 4 total residential units; Each unit includes 2 bedrooms and 1 bathroom; Approximately 3,300 square feet
