Seven-Unit Apartment
For Sale
$2,749,900
7190 NE Glisan St, Portland, OR 97213
MULTI_FAMILY - Portland, OR
Property Size8,760 SF
Lot Size0.10 Acres
Price / SF$313.92
Days on Market327
Property Features for 7190 NE Glisan St
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
CM2
Bedrooms
14
Bathrooms
12
Full bathrooms
12
Rooms
Bedroom 11, Bedroom 10, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 11, Bedroom 12, Bathroom 3, Bedroom 9, Bathroom 5, Bathroom 6, Bathroom 12, Bedroom 7, Bathroom 9, Bedroom 13, Bedroom 6, Bathroom 8, Bathroom 4, Bedroom 5, Bedroom 8, Bathroom 10, Bathroom 2, Bathroom 7, Bedroom 1, Bathroom 1, Bedroom 14
Subdivision
MONTAVILLA
Elementary school
Vestal
Middle school
Roseway Heights
High school
Leodis McDaniel
Directions
Glisan, between 71st and 72nd
Standard status
Active
APN
New Construction
Size
8,760 SF
Lot size
0.10 Acres
Building Details
Year built
2025
Floors in Building
3
Number of units
7
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: Sep 10, 2025
Changed: Aug 2
Last Checked: Aug 2 at 9:06PM
MLS# 799680224
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.
Investment Insights
Based on property information with market context.
Newly constructed seven-unit apartment building currently under construction, planned for completion in 2025. The community will total 8,760 square feet on a 0.1-acre lot with a composition roof and three thoughtfully designed levels. Residences are projected to range from approximately 1,190 to 1,390 square feet, with a unit mix that includes two ground-floor flex spaces suited for a home office or a potential fourth bedroom. The remaining five units are designed as efficient three-bedroom layouts.
All residences are planned with 2.5 bathrooms and modern, low-maintenance design elements. The property is located at 7190 NE Glisan St in Portland’s Montavilla area, with convenient access to downtown Portland, the Central Eastside, and I-84. Nearby amenities referenced include Montavilla Brew Works, Roscoe’s, and the Academy Theater, along with neighborhood services and dining options along SE Stark Street, plus close proximity to Montavilla Park.
Zoning is CM2, offering a straightforward framework for development of the planned apartment community.
All residences are planned with 2.5 bathrooms and modern, low-maintenance design elements. The property is located at 7190 NE Glisan St in Portland’s Montavilla area, with convenient access to downtown Portland, the Central Eastside, and I-84. Nearby amenities referenced include Montavilla Brew Works, Roscoe’s, and the Academy Theater, along with neighborhood services and dining options along SE Stark Street, plus close proximity to Montavilla Park.
Zoning is CM2, offering a straightforward framework for development of the planned apartment community.
Key Highlights
- Under construction seven‑unit apartment building on a 0.1‑acre lot
- Planned 2025 completion with 8,760 square feet and composition roof
- Projected unit sizes of approximately 1,190 to 1,390 SF across three levels
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 | $215.5k | $24.60 |
| − Vacancy | −$11.0k | −$1.25 |
| EGI | $204.5k | $23.35 |
| − OpEx | −$92.0k | −$10.51 |
| NOI | $112.5k | $12.84 |
8,760 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.61M
$1.41M – $1.87M
NOI $112,478 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $172,202 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,119
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Newly constructed seven-unit apartment building under construction, zoned CM2, with three-level layouts and a flexible ground-floor plan.
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 $2,749,900.
What are key features of this property?
This property features: Under construction seven‑unit apartment building on a 0.1‑acre lot; Planned 2025 completion with 8,760 square feet and composition roof; Projected unit sizes of approximately 1,190 to 1,390 SF across three levels
