Updated Three-Unit
New
For Sale
$649,900
5800 SE WOODSTOCK Blvd, Portland, OR 97206
MultiFamily, Portland, OR
Property Size2,200 SF
Lot Size0.17 Acres
Price / SF$295.41
Days on Market5
Property Features for 5800 SE WOODSTOCK Blvd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM1
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Bathroom 3, Bedroom 1
Subdivision
WOODSTOCK
Elementary school
Woodmere
Middle school
Brentwood
High school
Cleveland
Directions
Between 57th and 60th and Woodstock
Standard status
Active
APN
R289670
Size
2,200 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
TREMONT PL, BLOCK 6, LOT 22, E 1/2 OF LOT 23
Tax Annual Amount
6303
Legal Description
TREMONT PL, BLOCK 6, LOT 22, E 1/2 OF LOT 23
Amenities
onsite laundry
individual locked storage areas
off-street parking
Building Details
Year built
1954
Floors in Building
1
Number of units
3
Roof type
Composition
Listing Agency:
Urban Pacific Real Estate
(503) 740-2043
Listed By:
Ritchie Metzler
(503) 329-7269
Added: Sep 23
Changed: Sep 27
Last Checked: Sep 27 at 12:06PM
MLS# 421297833
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,200-square-foot triplex, built in 1954, contains three one-bedroom, one-bath units. Improvements include a composition roof installed in 2025, vinyl windows, refreshed kitchens and bathrooms, and hardwood floors. Each residence has a gas wall heater, while gas and electric service are separately metered. Tenants pay their own utilities. Shared amenities include onsite laundry and individually locked storage areas.
The 0.17-acre property is zoned RM1 and includes alley access to off-street parking at the rear. It is located near Reed College and the shops, restaurants, grocery stores, parks, transit, and other neighborhood amenities of Woodstock and southeast Portland. The zoning may support additional development toward the alley, subject to buyer due diligence.
The 0.17-acre property is zoned RM1 and includes alley access to off-street parking at the rear. It is located near Reed College and the shops, restaurants, grocery stores, parks, transit, and other neighborhood amenities of Woodstock and southeast Portland. The zoning may support additional development toward the alley, subject to buyer due diligence.
Key Highlights
- Three 1‑bedroom, 1‑bath units in a 2,200‑square‑foot triplex
- New composition roof installed in 2025
- Gas and electric service separately metered for each unit
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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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
532
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three one-bedroom residences with separate utility metering, onsite laundry, locked storage, and rear parking access.
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 1‑bedroom, 1‑bath units in a 2,200‑square‑foot triplex; New composition roof installed in 2025; Gas and electric service separately metered for each unit
