Four-Unit Garden-Style
For Sale
$610,000
Pending
7015 NE GLISAN ST, Portland, OR 97213
Four residential units offer in-unit laundry, full appliances, and paved off-street parking on a corner lot.
Property Size3,416 SF
Days on Market55
Property Features for 7015 NE GLISAN ST
General Information
Standard status
Pending
Size
3,416 SF
Property subtype
MULTI_FAMILY
Taxes and HOA fees
Annual Taxes
$5,591
Building Details
Building Size
3,416 SF
Year Built
1953
Listing Agency:
ELEETE Real Estate
Listed By:
Lee Davies · License #851200114
(503) 468-4018
Source:
Eleeterealestate
Added: Aug 14
Changed: Oct 6
Last Checked: Oct 5 at 9:58PM
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 ELEETE Real Estate
Investment Insights
Based on property information with market context.
This multifamily property consists of two garden-style duplex buildings containing four two-bedroom units. Each residence is approximately 854 square feet and includes in-unit laundry along with a full appliance package. The buildings date to 1953 and are situated on a 0.23-acre corner parcel with six paved off-street parking spaces.
The property is fully occupied by long-term tenants and operates under CM-2 commercial/mixed-use zoning. Its address is 7015 NE Glisan Street in Portland, Oregon, within a walkable Southeast Portland setting near transit, retail, and employment centers. The existing four-unit configuration provides an established residential income property, while the zoning supports consideration of additional multifamily or mixed-use uses where permitted.
The property is fully occupied by long-term tenants and operates under CM-2 commercial/mixed-use zoning. Its address is 7015 NE Glisan Street in Portland, Oregon, within a walkable Southeast Portland setting near transit, retail, and employment centers. The existing four-unit configuration provides an established residential income property, while the zoning supports consideration of additional multifamily or mixed-use uses where permitted.
Key Highlights
- Four 2‑bedroom units across two garden‑style duplex buildings
- Each unit is approximately 854 square feet with in‑unit laundry and full appliances
- 100% occupied with long‑term tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,604
Cap Rate
7.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$952,080
$952.1K
Cap Rate 7%
$680,057
$680.1K
Cap Rate 9%
$528,933
$528.9K
Market Conditions
NOI Build-Up for 3,416 SF
Gross rent
$71.7K $21.00/SF
− Vacancy
−$3.7K −$1.09/SF
EGI
$68.0K $19.91/SF
− OpEx
−$20.4K −$5.97/SF
NOI
$47.6K $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%
$952,080
Cap Rate 7%
$680,057
Cap Rate 9%
$528,933
Alternative Uses
Best Use
Multifamily LT 5
$680.1K
$595.1K – $793.4K
NOI $47,604 @ 7.0% cap · market cap 7.80%
Second Best
Apartment 5plus
$626.6K
$548.3K – $731.0K
NOI $43,861 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$959.3K
$839.4K – $1.12M
NOI $67,151 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,144
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?
Quadplex - Four residential units offer in-unit laundry, full appliances, and paved off-street parking on a corner lot.
Where is this quadplex located?
The property is located at 7015 NE GLISAN ST Portland, OR.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: Four 2‑bedroom units across two garden‑style duplex buildings; Each unit is approximately 854 square feet with in‑unit laundry and full appliances; 100% occupied with long‑term tenants
