7-Unit Apartment Building Under
For Sale
$2,742,900
7190 NE Glisan St, Portland, OR 97213
MultiFamily, Portland, OR
Property Size8,760 SF
Lot Size0.10 Acres
Price / SF$313.12
Days on Market419
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
Bathroom 11, Bedroom 7, Bedroom 14, Bedroom 8, Bedroom 13, Bathroom 12, Bathroom 10, Bedroom 10, Bedroom 1, Bedroom 5, Bedroom 12, Bathroom 7, Bedroom 2, Bathroom 9, Bedroom 4, Bathroom 3, Bathroom 8, Bathroom 5, Bedroom 3, Bedroom 9, Bedroom 11, Bedroom 6, Bathroom 2, Bathroom 6, Bathroom 1, Bathroom 4
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: Nov 1
Last Checked: Nov 2 at 8:06AM
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.
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Investment Insights
Based on property information with market context.
Located at 7190 NE Glisan St in Portland, this under-construction apartment property includes seven residences within 8,760 square feet on a 0.1-acre lot. The three-level design offers units of approximately 1,190 to 1,390 square feet, with five three-bedroom homes and two residences that add ground-floor flex space suitable for an office or fourth bedroom. Every unit includes 2.5 bathrooms, while composition roofing and contemporary low-maintenance construction support the property’s current condition and 2025 build year.
The property is in Montavilla, near neighborhood businesses and services along SE Stark Street, including Montavilla Brew Works, Roscoe’s, Academy Theater, coffee shops, restaurants, and other local businesses. Montavilla Park is also nearby. Downtown Portland, the Central Eastside, and I-84 are accessible from the property. Zoning is CM2.
The property is in Montavilla, near neighborhood businesses and services along SE Stark Street, including Montavilla Brew Works, Roscoe’s, Academy Theater, coffee shops, restaurants, and other local businesses. Montavilla Park is also nearby. Downtown Portland, the Central Eastside, and I-84 are accessible from the property. Zoning is CM2.
Key Highlights
- Seven‑unit apartment property under construction with a 2025 build year
- 8,760 square feet on a 0.1‑acre lot
- Five three‑bedroom units plus two residences with ground‑floor flex space
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
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Open Analytics
Lease Details
7
Residential units
Yes
Highway access
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
Frequently Asked Questions
What type of property is this?
Apartment building - Three-level residences provide flexible layouts, modern finishes, and 2.5 bathrooms per unit.
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‑unit apartment property under construction with a 2025 build year; 8,760 square feet on a 0.1‑acre lot; Five three‑bedroom units plus two residences with ground‑floor flex space
