7-Unit Apartment
For Sale
$1,899,000
7206 N SAINT LOUIS Ave, Portland, OR 97203
MultiFamily, Portland, OR
Property Size4,416 SF
Lot Size0.11 Acres
Price / SF$430.03
Days on Market1625
Property Features for 7206 N SAINT LOUIS Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 5, Bathroom 4, Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 2, Bedroom 6, Bedroom 7, Bathroom 2, Bathroom 5, Bedroom 4, Bedroom 3
Subdivision
CATHEDRAL PARK
Elementary school
James John
Middle school
George
High school
Roosevelt
Directions
SW Corner of N Syracuse St and N St Louis Ave
Standard status
Active
APN
R191962
Size
4,416 SF
Lot size
0.11 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
JAMES JOHNS ADD, BLOCK 34, NW 1/2 OF LOT 2
Tax Annual Amount
16512
Legal Description
JAMES JOHNS ADD, BLOCK 34, NW 1/2 OF LOT 2
Utilities
Heating system
Zoned
Building Details
Year built
2022
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: May 23, 2022
Changed: Nov 1
Last Checked: Nov 2 at 8:06AM
MLS# 22390670
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.
Built in 2022, this 4,416-square-foot apartment property occupies a 0.11-acre lot and contains seven residences. The configuration combines six condominium units with a detached single-family home, creating a mix of studio through three-bedroom layouts. The separate two-bedroom home includes a basement for additional storage. Interior details in the newer residences include open-concept plans, solid surface countertops, contemporary cabinetry, and neutral finishes. Zoning is RM2, and the property is fully leased.
The property is located at 7206 N Saint Louis Ave in Portland, near Cathedral Park. Cathedral Park is approximately 1.5 miles away, while Pier Park and Columbia Park are each under 1 mile from the property. Dining, neighborhood retail, and services along N Lombard Street are within roughly 0.75 miles. The area also has nearby transit options, a 94 Bike Score, and a 91 Walk Score.
The property is located at 7206 N Saint Louis Ave in Portland, near Cathedral Park. Cathedral Park is approximately 1.5 miles away, while Pier Park and Columbia Park are each under 1 mile from the property. Dining, neighborhood retail, and services along N Lombard Street are within roughly 0.75 miles. The area also has nearby transit options, a 94 Bike Score, and a 91 Walk Score.
Key Highlights
- Seven residences with six condominium units and one detached single‑family home
- Fully leased and occupied multifamily property
- 4,416 square feet on a 0.11‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,701
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,134,020
$1.1M
Cap Rate 7%
$810,014
$810.0K
Cap Rate 9%
$630,011
$630.0K
Market Conditions
NOI Build-Up for 4,416 SF
Gross rent
$108.6K $24.60/SF
− Vacancy
−$5.5K −$1.25/SF
EGI
$103.1K $23.35/SF
− OpEx
−$46.4K −$10.51/SF
NOI
$56.7K $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%
$1,134,020
Cap Rate 7%
$810,014
Cap Rate 9%
$630,011
Alternative Uses
Best Use
Apartment 5plus
$810.0K
$708.8K – $945.0K
NOI $56,701 @ 7.0% cap · market cap 2.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,809 @ 7.0% cap · market cap 4.57%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
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Business Placement
Demographics for 97203, OR
33,763
Population
13,462
Households
2.5
Avg Household Size
34
Median Age
45%
College-Educated
90%
High-School Grad
10.8 sq mi
ZIP Area
3,126
Density / Sq Mi
$77,619
Median Household Income
$46,152
Median Earnings
$1,551
Median Rent
$468,600
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 - Fully occupied multifamily asset with six condominium residences and a detached two-bedroom home.
Where is this apartment building located?
The property is located at 7206 N SAINT LOUIS Ave Portland, OR.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: Seven residences with six condominium units and one detached single‑family home; Fully leased and occupied multifamily property; 4,416 square feet on a 0.11‑acre lot
