Fourplex Apartment
601 NE RANDALL Ave, Portland, OR 97232
For Sale
$850,000
MultiFamily, Portland, OR
Property Size4,060 SF
Lot Size0.07 Acres
Price / SF$209.36
Days on Market38
Property Features for 601 NE RANDALL Ave
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Elementary school
Middle school
High school
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Building Details
Year built
Floors in Building
Number of units
Roof type
Listing Agency:
RealtyNET, LLC
Listed By:
Greg Messick · License #200202047
(503) 300-6330
Added: Oct 1
Changed: Nov 6
Last Checked: Nov 7 at 10:06AM
MLS# 571886346
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.
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Investment Insights
Based on property information with market context.
This fourplex contains 4,060 square feet on a 0.07-acre parcel and dates to 1910. The property has forced-air heating, a composition roof, and Res zoning.
Interstate 84 and Interstate 5 provide regional connections, while bus service is available on NE Sandy Boulevard, NE Glisan Street, and East Burnside Street. The Hollywood/NE 42nd Avenue and Lloyd Center MAX stations are nearby. Dining, grocery stores, parks, and everyday services are within walking reach.
Interstate 84 and Interstate 5 provide regional connections, while bus service is available on NE Sandy Boulevard, NE Glisan Street, and East Burnside Street. The Hollywood/NE 42nd Avenue and Lloyd Center MAX stations are nearby. Dining, grocery stores, parks, and everyday services are within walking reach.
Key Highlights
- Fourplex with 4,060 square feet on a 0.07‑acre lot
- Built in 1910
- Forced‑air heating and composition roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,579
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,131,580
$1.1M
Cap Rate 7%
$808,271
$808.3K
Cap Rate 9%
$628,656
$628.7K
Market Conditions
NOI Build-Up for 4,060 SF
Gross rent
$85.3K $21.00/SF
− Vacancy
−$4.4K −$1.09/SF
EGI
$80.8K $19.91/SF
− OpEx
−$24.2K −$5.97/SF
NOI
$56.6K $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 Rate 5%
$1,131,580
Cap Rate 7%
$808,271
Cap Rate 9%
$628,656
Alternative Uses
Best Use
Multifamily LT 5
$808.3K
$707.2K – $943.0K
NOI $56,579 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$744.7K
$651.6K – $868.8K
NOI $52,130 @ 7.0% cap · market cap 6.13%
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
$801,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Quadplexes in Portland, OR
Properties on Market for Quadplexes in Portland
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Residents have access to nearby bus routes and MAX stations, with neighborhood services reachable on foot.
Where is this quadplex 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: Fourplex with 4,060 square feet on a 0.07‑acre lot; Built in 1910; Forced‑air heating and composition roof
