Townhome-Style Multifamily
For Sale
$799,900
5871 Northeast Prescott Street, Portland, OR 97218
Stabilized portfolio of three tenant-occupied townhome-style condo units with private patios and secured-gate access.
Property Size2,565 SF
Price / SF$311.85
Days on Market201
Property Features for 5871 Northeast Prescott Street
General Information
Standard status
Active
Size
2,565 SF
Property subtype
Multi Family
Zoning
CM2
Occupancy
100%
Additional Details
Fenced Yard
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$12,575
Amenities
fireplaces
private back patios
fenced yard areas
energy-efficient mini-split systems
secured gate
2
Crawl Space
Concrete Perimeter, Slab
Composition
Cement Siding
Building Details
Year Built
2024
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 597-2444
Source:
Compass
Added: Jan 22
Changed: Aug 8
Last Checked: Jul 22 at 3:33AM
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.
Offered as a stabilized multifamily portfolio, this property includes three townhome-style condo units. Each unit features an efficient layout with approximately 855 square feet, two bedrooms, and 1.1 bathrooms, with an open great room concept on the main level and an ensuite bath upstairs. Living spaces are anchored by fireplaces and extend to private back patios and fenced yard areas. The homes also include energy-efficient mini-split systems for heating and cooling. One unit is street-facing, while the other two units are set behind a secured gate.
The property is located at 5871 Northeast Prescott Street in Portland’s Cully neighborhood, with convenient access throughout Northeast Portland. Seller remarks note nearby neighborhood restaurants, coffee shops, retail, and parks, along with strong walkability and bike access.
A modest homeowners association of $40 per month plus water is in place. All units are currently tenant-occupied with stabilized market rents ranging from $1,775 to $2,175 per month, based on seller-provided information. Buyer to perform due diligence regarding financials, operating expenses, and projected rental cash flow.
The property is located at 5871 Northeast Prescott Street in Portland’s Cully neighborhood, with convenient access throughout Northeast Portland. Seller remarks note nearby neighborhood restaurants, coffee shops, retail, and parks, along with strong walkability and bike access.
A modest homeowners association of $40 per month plus water is in place. All units are currently tenant-occupied with stabilized market rents ranging from $1,775 to $2,175 per month, based on seller-provided information. Buyer to perform due diligence regarding financials, operating expenses, and projected rental cash flow.
Key Highlights
- Portfolio includes 3 townhome‑style condo units at 5857 NE Prescott St in Portland’s Cully neighborhood
- Built in 2024 with cement siding and a composition roof
- Each unit offers about 855 SF with 2 bedrooms and 1.1 bathrooms (open great room on main; ensuite upstairs)
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
$35,745
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
4.47%
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%
$714,900
$714.9K
Cap Rate 7%
$510,643
$510.6K
Cap Rate 9%
$397,167
$397.2K
Market Conditions
NOI Build-Up for 2,565 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
$53.9K $21.00/SF
− Vacancy
−$2.8K −$1.09/SF
EGI
$51.1K $19.91/SF
− OpEx
−$15.3K −$5.97/SF
NOI
$35.7K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /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%
$714,900
Cap Rate 7%
$510,643
Cap Rate 9%
$397,167
Alternative Uses
Best Use
Multifamily LT 5
$510.6K
$446.8K – $595.8K
NOI $35,745 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$470.5K
$411.7K – $548.9K
NOI $32,935 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$720.3K
$630.3K – $840.4K
NOI $50,422 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
589
Businesses Nearby
Explore this area
Business Placement
Demographics for 97218, OR
14,748
Population
6,440
Households
2.3
Avg Household Size
38
Median Age
51%
College-Educated
91%
High-School Grad
6.7 sq mi
ZIP Area
2,201
Density / Sq Mi
$81,367
Median Household Income
$45,830
Median Earnings
$1,440
Median Rent
$493,300
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?
Triplex - Stabilized portfolio of three tenant-occupied townhome-style condo units with private patios and secured-gate access.
Where is this triplex located?
The property is located at 5871 Northeast Prescott Street Portland, OR.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Portfolio includes 3 townhome‑style condo units at 5857 NE Prescott St in Portland’s Cully neighborhood; Built in 2024 with cement siding and a composition roof; Each unit offers about 855 SF with 2 bedrooms and 1.1 bathrooms (open great room on main; ensuite upstairs)
