Duplex with Dedicated
For Sale
$450,000
6446 Southeast Holgate Boulevard, Portland, OR 97206
One unit is leased while the second is available for occupancy.
Property Size1,832 SF
Price / SF$245.63
Days on Market365
Property Features for 6446 Southeast Holgate Boulevard
General Information
Standard status
Active
Size
1,832 SF
Total Parking Spaces
2
Property subtype
Multi Family
Zoning
CS
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,747
Amenities
Cable
2
Crawl Space
Concrete Perimeter
Composition
T111Siding, Wood Siding
Building Details
Year Built
1981
Buildings
1
Listing Agency:
Works Real Estate
(503) 714-7053
Listed By:
Andrew Ramey · License #201228242
(503) 714-7053
Source:
Compass
Added: Sep 1, 2025
Changed: Aug 30
Last Checked: Aug 30 at 2:20PM
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 Works Real Estate
Investment Insights
Based on property information with market context.
This 1,832-square-foot duplex, built in 1981, includes one occupied unit and one vacant unit. Both residences offer bright living areas, practical layouts, and dedicated parking. The property has a crawl space, concrete perimeter, composition roofing, and T1-11 and wood siding.
Located at 6446 Southeast Holgate Boulevard in Portland, the duplex sits along a public transit line and near restaurants, shops, venues, and grocery options. CS zoning supports the property’s existing duplex configuration. The available unit can accommodate a new resident or an owner-occupant, while the leased unit provides an established tenancy.
Located at 6446 Southeast Holgate Boulevard in Portland, the duplex sits along a public transit line and near restaurants, shops, venues, and grocery options. CS zoning supports the property’s existing duplex configuration. The available unit can accommodate a new resident or an owner-occupant, while the leased unit provides an established tenancy.
Key Highlights
- 1,832‑square‑foot duplex built in 1981
- One unit rented; second unit vacant
- Dedicated parking for each unit
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
$26,903
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
5.98%
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%
$538,060
$538.1K
Cap Rate 7%
$384,329
$384.3K
Cap Rate 9%
$298,922
$298.9K
Market Conditions
NOI Build-Up for 1,832 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
$40.7K $22.20/SF
− Vacancy
−$2.2K −$1.22/SF
EGI
$38.4K $20.98/SF
− OpEx
−$11.5K −$6.29/SF
NOI
$26.9K $14.69/SF
Area
ZIP 97206
Vacancy
5.50%
Lease Rate
$22.20 /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%
$538,060
Cap Rate 7%
$384,329
Cap Rate 9%
$298,922
Alternative Uses
Best Use
Multifamily LT 5
$384.3K
$336.3K – $448.4K
NOI $26,903 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$344.6K
$301.5K – $402.0K
NOI $24,122 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$514.5K
$450.2K – $600.2K
NOI $36,013 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
931
Businesses Nearby
Explore this area
Business Placement
Demographics for 97206, OR
51,072
Population
22,348
Households
2.3
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
7,857
Density / Sq Mi
$94,233
Median Household Income
$54,254
Median Earnings
$1,693
Median Rent
$480,500
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?
Duplex - One unit is leased while the second is available for occupancy.
Where is this duplex located?
The property is located at 6446 Southeast Holgate Boulevard Portland, OR.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,832‑square‑foot duplex built in 1981; One unit rented; second unit vacant; Dedicated parking for each unit
