New Construction Cottage
For Sale
$1,739,900
6603 North Seneca Street, Portland, OR 97203
Four detached homes near St. Johns with strong rental potential.
Property Size4,868 SF
Price / SF$357.42
Days on Market69
Property Features for 6603 North Seneca Street
General Information
Standard status
Active
Size
4,868 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 26
Changed: Jul 10
Last Checked: Aug 1 at 2:05PM
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 construction detached cottage portfolio is located near St. Johns and comprises four detached homes in one North Portland location. The properties, located at 6605 N Seneca St, 9411 N Macrum Ave, 9415 N Macrum Ave, and 9421 N Macrum Ave, total 4,868 square feet and include 12 bedrooms, 8 full bathrooms, and 4 half bathrooms across the four homes. Each residence features 3 bedrooms and 2.1 bathrooms, with living, dining, kitchen, and a half bath on the main level, plus all bedrooms, 2 full bathrooms, and laundry upstairs. Two of the homes offer 1,253 square feet each, while the other two provide 1,181 square feet each. The property at 6605 N Seneca St includes the premium yard space, while 9421 N Macrum Ave offers an end position with patio space. Each home is equipped with a whole-home ducted heat pump system for efficient year-round heating and cooling, whole-house ventilation, and a one-year builder warranty. The location provides convenient access to downtown St. Johns, Cathedral Park, Pier Park, New Seasons Market University Park, local coffee shops, food carts, restaurants, transit options, bike routes, Lombard access, and connections toward University Park, Kenton, and downtown Portland, supporting everyday convenience and long-term rental demand.
Key Highlights
- New construction: Four detached homes in one portfolio.
- Projected 5.09% cap rate at stabilization.
- Each residence features 3 bedrooms and 2.1 bathrooms.
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 | $119.8k | $24.60 |
| − Vacancy | −$6.1k | −$1.25 |
| EGI | $113.6k | $23.35 |
| − OpEx | −$51.1k | −$10.51 |
| NOI | $62.5k | $12.84 |
4,868 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$892.9K
$781.3K – $1.04M
NOI $62,505 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.59M
NOI $95,694 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
459
Businesses Nearby
Explore this area
Business Placement
Demographics for 97203, OR
33,763
Population
13,462
Households
2.5
Avg Household Size
34
Median Age
45%
College-Educated
90%
High-School Grad
10.8 sq mi
ZIP Area
3,126
Density / Sq Mi
$77,619
Median Household Income
$46,152
Median Earnings
$1,551
Median Rent
$468,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Four detached homes near St. Johns with strong rental potential.
Where is this multifamily property located?
The property is located at 6603 North Seneca Street Portland, OR.
What is the asking price?
The asking price for this property is $1,739,900.
What are key features of this property?
This property features: New construction: Four detached homes in one portfolio.; Projected 5.09% cap rate at stabilization.; Each residence features 3 bedrooms and 2.1 bathrooms.
