7-Unit Townhome Apartment
6956 N Maryland Ave, Portland, OR 97217
For Sale
New
$2,139,900
MultiFamily, Portland, OR
Property Size6,633 SF
Lot Size0.11 Acres
Price / SF$322.61
Days on Market4
Property Features for 6956 N Maryland Ave
General Information
Property type
Property subtype
Property condition
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Subdivision
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Heating system
Cooling system
Building Details
Year built
Floors in Building
Number of units
Roof type
Buildings
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License OR #199910100
(503) 709-4632
Added: Nov 10
Changed: Nov 13
Last Checked: Nov 13 at 4:06AM
MLS# 411219022
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.
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Investment Insights
Based on property information with market context.
This 6,633-square-foot apartment property is being developed with seven two-story townhomes on a 0.11-acre parcel. Each residence is planned with two bedrooms, two full bathrooms, a half bath, an open main-floor living, dining, and kitchen arrangement, and in-unit laundry. Individual entrances and designated outdoor areas are included in the plans. Heat pumps provide heating and cooling, and the exterior is specified with composition roofing and fiber cement siding. Construction is underway, with completion identified for 2026; a one-year builder warranty is included after closing.
At 6956 N Maryland Ave in Portland, the property is near Arbor Lodge Park, Peninsula Park, the Kenton business district, and retail and dining along N Lombard and Interstate Avenue. The MAX Yellow Line and I-5 are also identified as nearby transportation connections. The location carries an 81 Walk Score and a 92 Bike Score.
At 6956 N Maryland Ave in Portland, the property is near Arbor Lodge Park, Peninsula Park, the Kenton business district, and retail and dining along N Lombard and Interstate Avenue. The MAX Yellow Line and I-5 are also identified as nearby transportation connections. The location carries an 81 Walk Score and a 92 Bike Score.
Key Highlights
- Seven planned townhomes totaling 6,633 square feet on 0.11 acres
- Each two‑story residence has 2 bedrooms and 2.5 bathrooms
- RM3 zoning; construction is underway for 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,168
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,703,360
$1.7M
Cap Rate 7%
$1,216,686
$1.2M
Cap Rate 9%
$946,311
$946.3K
Market Conditions
NOI Build-Up for 6,633 SF
Gross rent
$163.2K $24.60/SF
− Vacancy
−$8.3K −$1.25/SF
EGI
$154.9K $23.35/SF
− OpEx
−$69.7K −$10.51/SF
NOI
$85.2K $12.84/SF
Area
Portland, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,703,360
Cap Rate 7%
$1,216,686
Cap Rate 9%
$946,311
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.06M – $1.42M
NOI $85,168 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,390 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
7
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
585
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
$569,500
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Portland, OR
Properties on Market for Apartment buildings in Portland
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - RM3-zoned rental property under construction, with a consistent two-bedroom layout across all residences.
Where is this apartment building located?
The property is located at 6956 N Maryland Ave Portland, OR.
What is the asking price?
The asking price for this property is $2,139,900.
What are key features of this property?
This property features: Seven planned townhomes totaling 6,633 square feet on 0.11 acres; Each two‑story residence has 2 bedrooms and 2.5 bathrooms; RM3 zoning; construction is underway for 2026
