Multifamily Portfolio with Retail
For Sale
$735,000
5818 NE 35TH PL, Portland, OR 97211
Portfolio of nine newly built buildings combining townhomes, apartments, and retail space across Portland neighborhoods.
Property Size2,034 SF
Days on Market48
Property Features for 5818 NE 35TH PL
General Information
Standard status
Active
Size
2,034 SF
Property subtype
Single Family Residence
Additional Details
Multifamily Units
121
Building Details
Building Size
2,034 SF
Year Built
2025
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Emily Hetrick · License #199910100
(503) 927-3663
Source:
Realestatepdx
Added: Jun 25
Changed: Aug 7
Last Checked: Aug 11 at 4:37AM
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 Keller Williams Realty Portland Premiere
Investment Insights
Based on property information with market context.
This for-sale portfolio consists of nine buildings totaling 121 units, with a mix of townhomes, apartments, and retail spaces. The collection was built between 2023 and 2025 and features modern, high-end finishes throughout, creating a consistent, contemporary resident and customer experience across the portfolio.
The properties are positioned across several of Portland’s noted neighborhoods, including the Alberta Arts District, Hollywood, and the South Waterfront. With multiple building types included in one package, the portfolio offers diversification across residential and street-level retail components within the same ownership structure.
For buyers evaluating a larger acquisition, this structure may fit well for an operator or investor seeking scale and built-in mix rather than a single-property focus. The newer construction date and coordinated finish standards can be a practical consideration for those prioritizing turn-key, recently developed assets that combine rental living options with retail income opportunities.
The properties are positioned across several of Portland’s noted neighborhoods, including the Alberta Arts District, Hollywood, and the South Waterfront. With multiple building types included in one package, the portfolio offers diversification across residential and street-level retail components within the same ownership structure.
For buyers evaluating a larger acquisition, this structure may fit well for an operator or investor seeking scale and built-in mix rather than a single-property focus. The newer construction date and coordinated finish standards can be a practical consideration for those prioritizing turn-key, recently developed assets that combine rental living options with retail income opportunities.
Key Highlights
- Portfolio of 9 buildings with 121 total units across Portland
- Unit mix includes townhomes, apartments, and retail spaces
- Buildings constructed between 2023–2025
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
$26,116
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
3.55%
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%
$522,320
$522.3K
Cap Rate 7%
$373,086
$373.1K
Cap Rate 9%
$290,178
$290.2K
Market Conditions
NOI Build-Up for 2,034 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
$50.0K $24.60/SF
− Vacancy
−$2.6K −$1.25/SF
EGI
$47.5K $23.35/SF
− OpEx
−$21.4K −$10.51/SF
NOI
$26.1K $12.84/SF
Area
Portland, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
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%
$522,320
Cap Rate 7%
$373,086
Cap Rate 9%
$290,178
Alternative Uses
Best Use
Apartment 5plus
$373.1K
$326.5K – $435.3K
NOI $26,116 @ 7.0% cap · market cap 3.55%
Second Best
Retail
$338.7K
$296.3K – $395.1K
NOI $23,706 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$571.2K
$499.8K – $666.4K
NOI $39,984 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
121
Residential units
Location Intelligence
Trade Area within ½ mile
824
Businesses Nearby
Explore this area
Business Placement
Demographics for 97211, OR
33,762
Population
15,106
Households
2.2
Avg Household Size
38
Median Age
56%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
4,755
Density / Sq Mi
$109,604
Median Household Income
$59,171
Median Earnings
$1,818
Median Rent
$616,800
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 - Portfolio of nine newly built buildings combining townhomes, apartments, and retail space across Portland neighborhoods.
Where is this apartment building located?
The property is located at 5818 NE 35TH PL Portland, OR.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Portfolio of 9 buildings with 121 total units across Portland; Unit mix includes townhomes, apartments, and retail spaces; Buildings constructed between 2023–2025
