Multifamily Property Near
New
For Sale
$850,000
601 NE RANDALL AVE, Portland, OR 97232
Nearby bus routes and MAX stations provide public transportation options.
Property Size4,060 SF
Days on Market7
Property Features for 601 NE RANDALL AVE
General Information
Standard status
Active
Size
4,060 SF
Property subtype
MULTI_FAMILY
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,516
Building Details
Building Size
4,060 SF
Year Built
1910
Listing Agency:
RealtyNET, LLC
Listed By:
Greg Messick · License #200202047
(503) 300-6330
Source:
Eleeterealestate
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 5 at 9:26PM
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 RealtyNET, LLC
Investment Insights
Based on property information with market context.
Built in 1910, this multifamily property is at 601 NE Randall Ave in Portland. Interstate 84 and Interstate 5 are accessible for trips to Downtown Portland, the Lloyd District, the Central Eastside and Portland International Airport.
TriMet buses run on nearby NE Sandy Boulevard, NE Glisan Street and East Burnside Street. The Hollywood/NE 42nd Avenue and Lloyd Center MAX stations are also nearby. Neighborhood dining, grocery stores, parks and everyday services can be reached on foot.
TriMet buses run on nearby NE Sandy Boulevard, NE Glisan Street and East Burnside Street. The Hollywood/NE 42nd Avenue and Lloyd Center MAX stations are also nearby. Neighborhood dining, grocery stores, parks and everyday services can be reached on foot.
Key Highlights
- Multifamily property built in 1910
- Access to Interstate 84 and Interstate 5
- Nearby TriMet service on NE Sandy Boulevard, NE Glisan Street and East Burnside Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,130
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,042,600
$1.0M
Cap Rate 7%
$744,714
$744.7K
Cap Rate 9%
$579,222
$579.2K
Market Conditions
NOI Build-Up for 4,060 SF
Gross rent
$99.9K $24.60/SF
− Vacancy
−$5.1K −$1.25/SF
EGI
$94.8K $23.35/SF
− OpEx
−$42.7K −$10.51/SF
NOI
$52.1K $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 Rate 5%
$1,042,600
Cap Rate 7%
$744,714
Cap Rate 9%
$579,222
Alternative Uses
Best Use
Apartment 5plus
$744.7K
$651.6K – $868.8K
NOI $52,130 @ 7.0% cap · market cap 6.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$997.6K – $1.33M
NOI $79,810 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,623
Businesses Nearby
Explore this area
Business Placement
Demographics for 97232, OR
15,382
Population
9,594
Households
1.6
Avg Household Size
37
Median Age
65%
College-Educated
96%
High-School Grad
1.9 sq mi
ZIP Area
8,096
Density / Sq Mi
$71,278
Median Household Income
$49,794
Median Earnings
$1,584
Median Rent
$801,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Multifamily property - Nearby bus routes and MAX stations provide public transportation options.
Where is this multifamily property located?
The property is located at 601 NE RANDALL AVE Portland, OR.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Multifamily property built in 1910; Access to Interstate 84 and Interstate 5; Nearby TriMet service on NE Sandy Boulevard, NE Glisan Street and East Burnside Street
