Side-by-Side Duplex with
For Sale
$600,000
5508 NE Fremont St, Portland, OR 97213
Two independently arranged units offer private garages, driveway parking, owned solar arrays, and flexible occupancy potential.
Property Size3,522 SF
Price / SF$170.36
Days on Market49
Property Features for 5508 NE Fremont St
General Information
Standard status
Active
Size
3,522 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Rose City Park
Building Details
Year Built
1954
Listing Agency:
Lovejoy Real Estate
Listed By:
Jennifer Turner · License #SA674368000
(480) 245-3435
Source:
Foxrealestategroups
Added: Sep 14
Changed: Oct 26
Last Checked: Oct 6 at 12:47AM
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 Lovejoy Real Estate
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Investment Insights
Based on property information with market context.
Built in 1954, this 3,522-square-foot duplex contains two separately arranged residences, each with 2 bedrooms, 1 bathroom, and a lower-level family room. Every unit includes an attached one-car garage and one additional driveway parking space. The property was designed as a duplex from the outset rather than converted from a single-family home, with each side configured for independent use.
Both residences are occupied by long-term tenants on month-to-month agreements. The current arrangement supports continued rental use, while the month-to-month terms may also provide flexibility for an owner-occupant subject to applicable notice requirements. Each unit has an owned solar array, eliminating leased-system payments, and the roof is approximately 10 years old. New exterior paint adds to the recent property improvements.
Both residences are occupied by long-term tenants on month-to-month agreements. The current arrangement supports continued rental use, while the month-to-month terms may also provide flexibility for an owner-occupant subject to applicable notice requirements. Each unit has an owned solar array, eliminating leased-system payments, and the roof is approximately 10 years old. New exterior paint adds to the recent property improvements.
Key Highlights
- Purpose‑built duplex with two independently arranged units
- Each unit has 2 bedrooms, 1 bathroom, and a lower‑level family room
- Attached one‑car garage plus one driveway parking space per unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,081
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$981,620
$981.6K
Cap Rate 7%
$701,157
$701.2K
Cap Rate 9%
$545,344
$545.3K
Market Conditions
NOI Build-Up for 3,522 SF
Gross rent
$74.0K $21.00/SF
− Vacancy
−$3.8K −$1.09/SF
EGI
$70.1K $19.91/SF
− OpEx
−$21.0K −$5.97/SF
NOI
$49.1K $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 Rate 5%
$981,620
Cap Rate 7%
$701,157
Cap Rate 9%
$545,344
Alternative Uses
Best Use
Multifamily LT 5
$701.2K
$613.5K – $818.0K
NOI $49,081 @ 7.0% cap · market cap 8.18%
Second Best
Apartment 5plus
$646.0K
$565.3K – $753.7K
NOI $45,222 @ 7.0% cap · market cap 7.54%
Theoretical Best
Office A
$989.1K
$865.4K – $1.15M
NOI $69,235 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
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Business Placement
Demographics for 97213, OR
31,260
Population
14,971
Households
2.1
Avg Household Size
40
Median Age
61%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
7,815
Density / Sq Mi
$95,801
Median Household Income
$56,941
Median Earnings
$1,490
Median Rent
$609,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two independently arranged units offer private garages, driveway parking, owned solar arrays, and flexible occupancy potential.
Where is this duplex located?
The property is located at 5508 NE Fremont St Portland, OR.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Purpose‑built duplex with two independently arranged units; Each unit has 2 bedrooms, 1 bathroom, and a lower‑level family room; Attached one‑car garage plus one driveway parking space per unit
