Fully Leased 7-Unit
For Sale
$1,899,000
7206 N SAINT LOUIS Ave, Portland, OR 97203
MULTI_FAMILY - Portland, OR
Property Size4,416 SF
Lot Size0.11 Acres
Price / SF$430.03
Days on Market1533
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 3, Bedroom 4, Bedroom 5, Bathroom 5, Bedroom 7, Bathroom 1, Bathroom 4, Bathroom 3, Bedroom 6, Bathroom 2, Bedroom 2, Bedroom 1
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
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: Aug 2
Last Checked: Aug 2 at 4:06PM
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.
Investment Insights
Based on property information with market context.
Fully leased, income-producing 7-unit multifamily asset in North Portland. Built in 2022, the property includes six newer-construction condominium residences plus a detached two-bedroom single-family home with a basement for additional storage. Unit mix ranges from studio to three-bedroom residences, supporting broader tenant appeal across different household types. Heating is zoned, and the roof is composition.
Located at 7206 N Saint Louis Ave in Portland (97203), the property is situated near the Cathedral Park neighborhood, about 1.5 miles to Cathedral Park and under 1 mile to Pier Park and Columbia Park. N Lombard Street dining, neighborhood retail, and services are within roughly 0.75 miles. The area also reflects walk and bike friendliness, with a 94 Bike Score and a 91 Walk Score, plus nearby transit options and convenient access to employment centers and outdoor amenities.
Located at 7206 N Saint Louis Ave in Portland (97203), the property is situated near the Cathedral Park neighborhood, about 1.5 miles to Cathedral Park and under 1 mile to Pier Park and Columbia Park. N Lombard Street dining, neighborhood retail, and services are within roughly 0.75 miles. The area also reflects walk and bike friendliness, with a 94 Bike Score and a 91 Walk Score, plus nearby transit options and convenient access to employment centers and outdoor amenities.
Key Highlights
- Fully leased 7‑unit multifamily asset with stable, move‑in‑ready occupancy
- Six newer‑construction condominium residences plus a detached two‑bedroom home with basement
- Unit mix ranges from studio to three‑bedroom residences
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 | $108.6k | $24.60 |
| − Vacancy | −$5.5k | −$1.25 |
| EGI | $103.1k | $23.35 |
| − OpEx | −$46.4k | −$10.51 |
| NOI | $56.7k | $12.84 |
4,416 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
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.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
Explore this area
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
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 - Fully leased RM2 multifamily built in 2022, combining six newer condominium residences with 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: Fully leased 7‑unit multifamily asset with stable, move‑in‑ready occupancy; Six newer‑construction condominium residences plus a detached two‑bedroom home with basement; Unit mix ranges from studio to three‑bedroom residences
