North Portland Five-Unit
For Sale
$1,969,900
6179 North Albina Avenue, Portland, OR 97217
New construction townhomes near Peninsula Park available for lease.
Property Size4,815 SF
Price / SF$409.12
Days on Market73
Property Features for 6179 North Albina Avenue
General Information
Standard status
Active
Size
4,815 SF
Property subtype
Multi Family
Building Details
Year Built
2026
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 709-4632
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Source:
Compass
Added: May 22
Changed: Jul 10
Last Checked: Aug 1 at 1:50PM
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 new five-unit townhome investment property is located directly across the street from Peninsula Park. The property includes one front three-bedroom, 2.1-bathroom home at 1,190 square feet, three two-bedroom, 2.1-bathroom homes at 903 square feet each, and one two-bedroom, 2.1-bathroom home at 916 square feet, totaling 4,815 square feet. Each home features connected living, dining, and kitchen spaces, custom cabinetry, solid surface countertops, stainless steel appliances, practical storage, upper-level bedroom layouts, mini splits for efficient year-round heating and cooling, and a private fenced patio space. The unit mix supports flexible leasing, with a larger front home and four efficient two-bedroom homes. The property is vacant and move-in ready for lease-up. Residents have access to Peninsula Park, the MAX Yellow Line, and nearby amenities along Mississippi or Williams, and Killingsworth and Interstate for coffee, groceries, and everyday services. This North Portland asset offers modern construction, functional layouts, private outdoor space, and park front access.
Key Highlights
- Prime location directly across from Peninsula Park, enjoy rose gardens, lawns, playground, and walking paths.
- New construction (2026) by award‑winning builder.
- Five‑unit investment property with a flexible unit mix.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $118.4k | $24.60 |
| − Vacancy | −$6.0k | −$1.25 |
| EGI | $112.4k | $23.35 |
| − OpEx | −$50.6k | −$10.51 |
| NOI | $61.8k | $12.84 |
4,815 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$883.2K
$772.8K – $1.03M
NOI $61,824 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,652 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
Explore this area
Business Placement
Demographics for 97217, OR
36,086
Population
17,038
Households
2.1
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
11.1 sq mi
ZIP Area
3,251
Density / Sq Mi
$100,387
Median Household Income
$56,790
Median Earnings
$1,789
Median Rent
$569,500
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 - New construction townhomes near Peninsula Park available for lease.
Where is this apartment building located?
The property is located at 6179 North Albina Avenue Portland, OR.
What is the asking price?
The asking price for this property is $1,969,900.
What are key features of this property?
This property features: Prime location directly across from Peninsula Park, enjoy rose gardens, lawns, playground, and walking paths.; New construction (2026) by award‑winning builder.; Five‑unit investment property with a flexible unit mix.
