Updated Two-Unit
New
For Sale
$600,000
6204 NE WILLOW St, Portland, OR 97213
MultiFamily, Portland, OR
Property Size1,920 SF
Lot Size0.11 Acres
Price / SF$312.50
Days on Market1
Property Features for 6204 NE WILLOW St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 2
Subdivision
NORTH TABOR
Elementary school
Vestal
Middle school
Harrison Park
High school
Franklin
Directions
North on 60th, East on Willow
Standard status
Active
APN
R228243
Size
1,920 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
NORTHWEST MT TABOR, BLOCK 2, LOT 3
Tax Annual Amount
4523
Legal Description
NORTHWEST MT TABOR, BLOCK 2, LOT 3
Utilities
Heating system
Forced Air, Heat Pump (Heating)
Cooling system
Heat Pump
Amenities
in-unit laundry
detached garage
covered patio
mature landscaping
RV hookups
Building Details
Year built
1915
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Summa Real Estate Group
(503) 906-2606
Listed By:
Angie Hobson · License #201234540
(503) 349-9410
Added: Oct 7
Last Checked: Oct 7 at 8:06PM
MLS# 193312957
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.
Investment Insights
Based on property information with market context.
This 1,920-square-foot duplex contains two separate residences, each with two bedrooms, one bathroom, a kitchen, laundry, and living space. Improvements completed in 2022 include renovated kitchens and bathrooms, newer appliances, interior and exterior paint, a tankless water heater, and mini-split heating and cooling. A gas furnace, composition roof, and radon mitigation system are also present; the roof and mitigation work date to late 2022.
The 0.11-acre property has mature landscaping, an oversized backyard, two covered patio areas, a detached garage, a spacious driveway, and RV hookups. The garage has been identified as a possible future ADU conversion, subject to buyer due diligence and applicable requirements. The property is zoned RM2 and is near parks, restaurants, shopping, and I-84 in Portland’s North Tabor and Rose City Park area.
The 0.11-acre property has mature landscaping, an oversized backyard, two covered patio areas, a detached garage, a spacious driveway, and RV hookups. The garage has been identified as a possible future ADU conversion, subject to buyer due diligence and applicable requirements. The property is zoned RM2 and is near parks, restaurants, shopping, and I-84 in Portland’s North Tabor and Rose City Park area.
Key Highlights
- Two separate residences, each with 2 bedrooms and 1 bathroom
- 1,920 square feet on a 0.11‑acre lot
- Both residences are leased as long‑term rentals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,756
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$535,120
$535.1K
Cap Rate 7%
$382,229
$382.2K
Cap Rate 9%
$297,289
$297.3K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$40.3K $21.00/SF
− Vacancy
−$2.1K −$1.09/SF
EGI
$38.2K $19.91/SF
− OpEx
−$11.5K −$5.97/SF
NOI
$26.8K $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%
$535,120
Cap Rate 7%
$382,229
Cap Rate 9%
$297,289
Alternative Uses
Best Use
Multifamily LT 5
$382.2K
$334.5K – $445.9K
NOI $26,756 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$352.2K
$308.2K – $410.9K
NOI $24,653 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$539.2K
$471.8K – $629.1K
NOI $37,743 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,065
Businesses Nearby
Explore this area
Business Placement
Demographics for 97213, OR
31,260
Population
14,971
Households
2.1
Avg Household Size
40
Median Age
61%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
7,815
Density / Sq Mi
$95,801
Median Household Income
$56,941
Median Earnings
$1,490
Median Rent
$609,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes its own kitchen and laundry, and both are currently leased for long-term occupancy.
Where is this duplex located?
The property is located at 6204 NE WILLOW St Portland, OR.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two separate residences, each with 2 bedrooms and 1 bathroom; 1,920 square feet on a 0.11‑acre lot; Both residences are leased as long‑term rentals
