Updated 4-Plex with Private
For Sale
$775,000
5821 SE KNAPP ST, Portland, OR 97206
Four-unit, single-level property with updated interiors, stainless appliances, and private fenced backyards per unit.
Property Size2,000 SF
Price / SF$387.50
Days on Market158
Property Features for 5821 SE KNAPP ST
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
R5
Occupancy
75%
Net Operating Income
$46,972
Additional Details
Fenced Yard
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,522
Amenities
Electricity,Tank
UnitTypeType1
Electricity
2
Dishwasher,Disposal,HardwoodFloors,Refrigerator
1
1455
4
Level,PublicRoad
PublicWater
4.0
0.15
OffStreet
Paved
2000.0
Cedar,ShakeSiding
Building Details
Building Size
2,000 SF
Year Built
1942
Stories
1
Tenancy
Multi
Listing Agency:
Rarebird Real Estate
(971) 266-0206
Listed By:
Carmen Hart
(971) 266-0206
Source:
Premierepropertygroup
Added: Mar 19
Changed: Aug 23
Last Checked: Aug 23 at 2:53AM
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 Rarebird Real Estate
Investment Insights
Based on property information with market context.
This 4-plex offers a single-level layout across four units, designed for straightforward day-to-day maintenance. Updates are present throughout the residences, including quartz countertops, LVP flooring, and stainless steel appliances. Each unit also includes its own private fenced backyard, providing outdoor space that is separated from neighboring tenants. Off-street parking is available with multiple spaces.
The property is located near Brentwood Park and the Brentwood Community Garden, placing recreation and community amenities within close reach. Unit #4 is currently vacant, which can be useful for an owner-occupant scenario or for onboarding an additional tenant.
For investors or owner-occupants, the combination of modern in-unit finishes and independent fenced outdoor areas can support tenant appeal while keeping operations manageable. The availability of a vacant unit may also simplify planning for occupancy timing and lease-up relative to fully occupied properties.
The property is located near Brentwood Park and the Brentwood Community Garden, placing recreation and community amenities within close reach. Unit #4 is currently vacant, which can be useful for an owner-occupant scenario or for onboarding an additional tenant.
For investors or owner-occupants, the combination of modern in-unit finishes and independent fenced outdoor areas can support tenant appeal while keeping operations manageable. The availability of a vacant unit may also simplify planning for occupancy timing and lease-up relative to fully occupied properties.
Key Highlights
- 4‑plex with single‑level layout and 2,000 total building area (year built 1942)
- Each unit includes updated interiors with quartz countertops, LVP flooring, and stainless steel appliances
- 2‑bedroom, 1‑bath unit type: 4 units total; Unit 1 rent is $1,455
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
$29,371
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
3.79%
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%
$587,420
$587.4K
Cap Rate 7%
$419,586
$419.6K
Cap Rate 9%
$326,344
$326.3K
Market Conditions
NOI Build-Up for 2,000 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
$44.4K $22.20/SF
− Vacancy
−$2.4K −$1.22/SF
EGI
$42.0K $20.98/SF
− OpEx
−$12.6K −$6.29/SF
NOI
$29.4K $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%
$587,420
Cap Rate 7%
$419,586
Cap Rate 9%
$326,344
Alternative Uses
Best Use
Multifamily LT 5
$419.6K
$367.1K – $489.5K
NOI $29,371 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$376.2K
$329.2K – $438.9K
NOI $26,334 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$561.6K
$491.4K – $655.3K
NOI $39,315 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
325
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit, single-level property with updated interiors, stainless appliances, and private fenced backyards per unit.
Where is this quadplex located?
The property is located at 5821 SE KNAPP ST Portland, OR.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 4‑plex with single‑level layout and 2,000 total building area (year built 1942); Each unit includes updated interiors with quartz countertops, LVP flooring, and stainless steel appliances; 2‑bedroom, 1‑bath unit type: 4 units total; Unit 1 rent is $1,455
