Park-Front
For Sale
$1,649,900
6214 N Kerby Ave, Portland, OR 97217
MultiFamily, Portland, OR
Property Size3,936 SF
Lot Size0.11 Acres
Price / SF$419.18
Days on Market108
Property Features for 6214 N Kerby Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R5
Bedrooms
5
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 3, Bedroom 5, Bedroom 2, Bathroom 5, Bathroom 2, Bedroom 4, Bathroom 6, Bathroom 1
Subdivision
PIEDMONT
View
Park
Elementary school
Chief Joseph
Middle school
Ockley Green
High school
Jefferson
Directions
From N Rosa Parks Way, south on N Kerby Ave to property. Use 6216 N Kerby Ave, Portland on GPS.
Standard status
Active
APN
New Construction
Size
3,936 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
LONGWOOD, BLOCK 1, LOT 13
Legal Description
LONGWOOD, BLOCK 1, LOT 13
Utilities
Cooling system
Heat Pump
Building Details
Year built
2026
Floors in Building
2
Number of units
4
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: Jun 19
Changed: Oct 4
Last Checked: Oct 4 at 8:06PM
MLS# 542848396
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 R5-zoned quadplex contains 3,936 square feet across four residences on a 0.11-acre parcel. The unit mix includes two three-bedroom, 2.5-bath homes and two two-bedroom, 2.5-bath homes. Each residence has a great-room main level with tall ceilings, solid-surface countertops, stainless steel appliances, custom cabinetry, a half bath, and an energy-efficient heat pump. Upper levels include vaulted ceilings and laundry between the bedrooms. Composition roofing and a 2026 build year are also reported.
The property sits across from 16-acre Peninsula Park, which includes a community center, rose garden, playground, splash pad, heated outdoor pool, sports courts, fields, picnic lawns, and paved paths. Front residences have large yards, while rear homes offer fenced outdoor space and off-street parking. Mississippi, Williams, Killingsworth, Interstate, and Piedmont amenities provide nearby coffee, dining, shopping, transit, and daily services.
The property sits across from 16-acre Peninsula Park, which includes a community center, rose garden, playground, splash pad, heated outdoor pool, sports courts, fields, picnic lawns, and paved paths. Front residences have large yards, while rear homes offer fenced outdoor space and off-street parking. Mississippi, Williams, Killingsworth, Interstate, and Piedmont amenities provide nearby coffee, dining, shopping, transit, and daily services.
Key Highlights
- Four‑residence quadplex with two 3‑bedroom, 2.5‑bath homes and two 2‑bedroom, 2.5‑bath homes
- 3,936 square feet on a 0.11‑acre parcel
- Across from 16‑acre Peninsula Park and its community, recreation, and rose garden amenities
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
$54,851
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
3.32%
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%
$1,097,020
$1.1M
Cap Rate 7%
$783,586
$783.6K
Cap Rate 9%
$609,456
$609.5K
Market Conditions
NOI Build-Up for 3,936 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
$82.7K $21.00/SF
− Vacancy
−$4.3K −$1.09/SF
EGI
$78.4K $19.91/SF
− OpEx
−$23.5K −$5.97/SF
NOI
$54.9K $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%
$1,097,020
Cap Rate 7%
$783,586
Cap Rate 9%
$609,456
Alternative Uses
Best Use
Multifamily LT 5
$783.6K
$685.6K – $914.2K
NOI $54,851 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$722.0K
$631.7K – $842.3K
NOI $50,538 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$1.11M
$967.2K – $1.29M
NOI $77,373 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,173
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
Check the figures for this property
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?
Quadplex - Four residences feature private outdoor areas, efficient floor plans, and access to Peninsula Park across the street.
Where is this quadplex located?
The property is located at 6214 N Kerby Ave Portland, OR.
What is the asking price?
The asking price for this property is $1,649,900.
What are key features of this property?
This property features: Four‑residence quadplex with two 3‑bedroom, 2.5‑bath homes and two 2‑bedroom, 2.5‑bath homes; 3,936 square feet on a 0.11‑acre parcel; Across from 16‑acre Peninsula Park and its community, recreation, and rose garden amenities
