7-Unit Apartment
For Sale
$2,742,900
7190 NE Glisan ST, Portland, OR 97213
New construction includes flexible ground-floor rooms in two residences and three-bedroom layouts in the other five.
Property Size8,760 SF
Price / SF$313.12
Days on Market419
Property Features for 7190 NE Glisan ST
General Information
Standard status
Active
Size
8,760 SF
Property subtype
MULTI_FAMILY
Site & Location
Neighborhood
Southeast
Highway Access
Yes
Additional Details
Multifamily Units
7
Building Details
Building Size
8,760 SF
Year Built
2025
Stories
3
Listing Agency:
Keller Williams Realty Portland Premiere
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Source:
Leedavies
Added: Sep 10, 2025
Changed: Nov 1
Last Checked: Oct 31 at 8:19PM
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
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Investment Insights
Based on property information with market context.
Completed in 2025, this seven-unit apartment property in Portland’s Montavilla neighborhood contains residences ranging from approximately 1,190 to 1,390 square feet. Each home spans three levels and has 2.5 bathrooms. Two units feature adaptable ground-floor space that can serve as a home office or an additional bedroom; the other five have three-bedroom layouts. The property’s design is described as modern and low-maintenance.
The location is near Montavilla Park and the commercial district along SE Stark Street, with restaurants, coffee shops, and neighborhood services nearby. Montavilla Brew Works, Roscoe’s, and Academy Theater are also identified in the surrounding area. I-84 provides a nearby route, and downtown Portland and the Central Eastside are accessible from the neighborhood.
The location is near Montavilla Park and the commercial district along SE Stark Street, with restaurants, coffee shops, and neighborhood services nearby. Montavilla Brew Works, Roscoe’s, and Academy Theater are also identified in the surrounding area. I-84 provides a nearby route, and downtown Portland and the Central Eastside are accessible from the neighborhood.
Key Highlights
- Seven apartment units completed in 2025
- Residences measure approximately 1,190 to 1,390 square feet and span three levels
- Two units have ground‑floor space suited to an office or potential fourth bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$112,478
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,249,560
$2.2M
Cap Rate 7%
$1,606,829
$1.6M
Cap Rate 9%
$1,249,756
$1.2M
Market Conditions
NOI Build-Up for 8,760 SF
Gross rent
$215.5K $24.60/SF
− Vacancy
−$11.0K −$1.25/SF
EGI
$204.5K $23.35/SF
− OpEx
−$92.0K −$10.51/SF
NOI
$112.5K $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%
$2,249,560
Cap Rate 7%
$1,606,829
Cap Rate 9%
$1,249,756
Alternative Uses
Best Use
Apartment 5plus
$1.61M
$1.41M – $1.87M
NOI $112,478 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $172,202 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
7
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,179
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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - New construction includes flexible ground-floor rooms in two residences and three-bedroom layouts in the other five.
Where is this apartment building located?
The property is located at 7190 NE Glisan ST Portland, OR.
What is the asking price?
The asking price for this property is $2,742,900.
What are key features of this property?
This property features: Seven apartment units completed in 2025; Residences measure approximately 1,190 to 1,390 square feet and span three levels; Two units have ground‑floor space suited to an office or potential fourth bedroom
