14-Unit Wood Frame Apartment
For Sale
Contact for pricing
5625 SE GLADSTONE ST PTLAND, Portland, OR 97206
14-unit multifamily property built in 1972 with off-street parking, onsite laundry, and recent exterior and plumbing improvements.
Property Size8,208 SF
Lot Size0.33 Acres
Price / SF$240.62
Days on Market28
Property Features for 5625 SE GLADSTONE ST PTLAND
General Information
Standard status
Active
Size
8,208 SF
Lot size
0.33 Acres
Property subtype
Multifamily
Additional Details
Multifamily Units
14
Amenities
off-street parking
community garden
onsite laundry
Building Details
Year Built
1972
Construction
wood frame
Tenancy
Multi
Listing Agency:
SVN | Imbrie Realty
(503) 799-0447
Listed By:
Hugh Holtman · License #OR 200311162
Source:
Crexi
Added: Jul 7
Changed: Jul 21
Last Checked: Jul 31 at 1:31PM
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 SVN | Imbrie Realty
Investment Insights
Based on property information with market context.
Gladstone Terrace Apartments is a 14-unit multifamily property built in 1972. The wood frame courtyard building features a pitched composite roof and a concrete perimeter crawl space. Recent improvements completed by current ownership include new plumbing in 2025, some electrical upgrades, newer Hardi Plank siding, vinyl windows, a newer garbage enclosure, and new onsite laundry machines under a contract. Interior unit improvements are ongoing/awaiting continuation by a new owner.
The property is located at 5625 SE Gladstone St in Portland, Oregon, within the Creston-Kenilworth neighborhood. The site includes off-street parking and a community garden.
This is a residential income property offering a courtyard-style layout with onsite laundry and off-street parking, complemented by recent upgrades to key building systems and exterior components.
The property is located at 5625 SE Gladstone St in Portland, Oregon, within the Creston-Kenilworth neighborhood. The site includes off-street parking and a community garden.
This is a residential income property offering a courtyard-style layout with onsite laundry and off-street parking, complemented by recent upgrades to key building systems and exterior components.
Key Highlights
- 14‑unit multifamily property built in 1972, offering approximately 8,208 SF on an approximately 0.33‑acre site
- Wood frame courtyard building with pitched composite roof and concrete perimeter crawl space
- Recent improvements include all new plumbing in 2025, along with some electrical upgrades
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 | $206.8k | $25.20 |
| − Vacancy | −$10.3k | −$1.26 |
| EGI | $196.5k | $23.94 |
| − OpEx | −$88.4k | −$10.77 |
| NOI | $108.1k | $13.17 |
8,208 SF · lease $25.20/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.54M
$1.35M – $1.80M
NOI $108,075 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.31M
$2.02M – $2.69M
NOI $161,351 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
14
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
919
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?
Apartment building - 14-unit multifamily property built in 1972 with off-street parking, onsite laundry, and recent exterior and plumbing improvements.
Where is this apartment building located?
The property is located at 5625 SE GLADSTONE ST PTLAND Portland, OR.
What is the asking price?
The asking price for this property is $1,975,000.
What are key features of this property?
This property features: 14‑unit multifamily property built in 1972, offering approximately 8,208 SF on an approximately 0.33‑acre site; Wood frame courtyard building with pitched composite roof and concrete perimeter crawl space; Recent improvements include all new plumbing in 2025, along with some electrical upgrades
