Duplex with Tenants In
5505 North Minnesota Avenue Portland, OR 97217
5505 North Minnesota Avenue, Portland, OR, 97217
$585,000
For Sale
$585,000
Two occupied homes sit on a single lot and are sold with tenants in place, totaling 2,680 square feet.
Property Size2,680 SF
Price / SF$218.28
Days on Market506
Property Features for 5505 North Minnesota Avenue
General Information
- Standard status
- Active
- Size
- 2,680 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1922
Listing agency
Axness & Kofman Real Estate
(503) 523-2477
Listed by
David Axness · License #980800066
(503) 523-2477
Source
Compass
Added: Mar 3, 2025 Updated: Jul 20 at 7:34PM Checked: Jul 21 at 8:07AM
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 Axness & Kofman Real Estate
Investment Insights
Based on property information with market context.
This duplex features two separate homes on one lot, with both units currently occupied by tenants and included in the sale with tenants in place. 5505 N Minnesota Avenue contains a 3-bedroom, 1-bath home with 2,160 square feet. 1223 N Killingsworth contains a 1-bedroom, 1-bath home with 520 square feet.
The property totals a 5,500 square foot lot and is located within CM2 Commercial Mixed Use zoning per the City of Portland, with buyers to verify permitted uses.
The listing offers a straightforward, existing rental configuration with two units under one ownership, presented for sale to qualified buyers interested in assuming tenancy at closing. Contact the agent for financials.
The property totals a 5,500 square foot lot and is located within CM2 Commercial Mixed Use zoning per the City of Portland, with buyers to verify permitted uses.
The listing offers a straightforward, existing rental configuration with two units under one ownership, presented for sale to qualified buyers interested in assuming tenancy at closing. Contact the agent for financials.
Key Highlights
- Two occupied homes on one lot, sold with tenants in place (buyer to contact agent for financials).
- Total size: 2,680 SF across two units on a 5,500 SF lot.
- 5505 N Minnesota: 2,160 SF home with 3 bedrooms and 1 bathroom.
Local Financial Insights For Multifamily LT 5
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 | $56.3k | $21.00 |
| − Vacancy | −$2.9k | −$1.09 |
| EGI | $53.4k | $19.91 |
| − OpEx | −$16.0k | −$5.97 |
| NOI | $37.3k | $13.94 |
2,680 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$533.5K
$466.8K – $622.5K
NOI $37,347 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$491.6K
$430.1K – $573.5K
NOI $34,411 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$752.6K
$658.5K – $878.1K
NOI $52,683 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two occupied homes sit on a single lot and are sold with tenants in place, totaling 2,680 square feet.
Where is this duplex located?
The property is located at 5505 North Minnesota Avenue Portland, OR.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Two occupied homes on one lot, sold with tenants in place (buyer to contact agent for financials).; Total size: 2,680 SF across two units on a 5,500 SF lot.; 5505 N Minnesota: 2,160 SF home with 3 bedrooms and 1 bathroom.
