3-Unit Triplex with Alley
New
For Sale
$649,900
5800 SE Woodstock Blvd, Portland, OR 97206
Three one-bedroom apartments share on-site laundry and individual locked storage.
Property Size2,200 SF
Price / SF$295.41
Days on Market2
Property Features for 5800 SE Woodstock Blvd
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Multi-Family
Zoning
RM1
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
on-site laundry
locked storage
Building Details
Year Built
1954
Listing Agency:
Urban Pacific Real Estate
Listed By:
Ritchie Metzler
(503) 740-2043
Source:
Rosecityrealtygroup
Added: Sep 26
Last Checked: Sep 26 at 3:12PM
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 Urban Pacific Real Estate
Investment Insights
Based on property information with market context.
This 2,200-square-foot triplex contains three one-bedroom, one-bathroom apartments. Built in 1954, the property received a new roof in 2025 and has vinyl windows, hardwood flooring, and renovated kitchens and bathrooms. Each apartment has a gas wall heater, with gas and electricity separately metered. On-site laundry and individual secured storage areas serve the units.
Rear alley access connects to off-street parking. The property is zoned RM1, and the source identifies possible development toward the alley, subject to buyer due diligence. Reed College, neighborhood shops, restaurants, grocery stores, parks, and transit are among the nearby amenities.
Rear alley access connects to off-street parking. The property is zoned RM1, and the source identifies possible development toward the alley, subject to buyer due diligence. Reed College, neighborhood shops, restaurants, grocery stores, parks, and transit are among the nearby amenities.
Key Highlights
- Three apartments, each with one bedroom and one bathroom
- 2,200 square feet; built in 1954
- New roof in 2025, vinyl windows, hardwood floors, and updated kitchens and bathrooms
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
$32,308
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
4.97%
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%
$646,160
$646.2K
Cap Rate 7%
$461,543
$461.5K
Cap Rate 9%
$358,978
$359.0K
Market Conditions
NOI Build-Up for 2,200 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
$48.8K $22.20/SF
− Vacancy
−$2.7K −$1.22/SF
EGI
$46.2K $20.98/SF
− OpEx
−$13.8K −$6.29/SF
NOI
$32.3K $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%
$646,160
Cap Rate 7%
$461,543
Cap Rate 9%
$358,978
Alternative Uses
Best Use
Multifamily LT 5
$461.5K
$403.9K – $538.5K
NOI $32,308 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$413.8K
$362.1K – $482.8K
NOI $28,967 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$617.8K
$540.6K – $720.8K
NOI $43,247 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
532
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three one-bedroom apartments share on-site laundry and individual locked storage.
Where is this triplex located?
The property is located at 5800 SE Woodstock Blvd Portland, OR.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Three apartments, each with one bedroom and one bathroom; 2,200 square feet; built in 1954; New roof in 2025, vinyl windows, hardwood floors, and updated kitchens and bathrooms
