Seven Units in North
For Sale
Contact for pricing
7206 N Saint Louis Ave, Portland, OR 97203
Seven residential units package in desirable North Portland location.
Property Size4,416 SF
Price / SF$430.03
Days on Market1491
Property Features for 7206 N Saint Louis Ave
General Information
Standard status
Active
Size
4,416 SF
Property subtype
Multifamily
Zoning
RM2
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$100,034
Building Details
Year Built
2022
Buildings
2
Units
7
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
Source:
Crexi
Added: Jul 22, 2022
Changed: Aug 9
Last Checked: Aug 20 at 12:46PM
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
Investment Insights
Based on property information with market context.
This offering presents an opportunity to diversify an investment portfolio with a package of seven units, including six new construction condominiums and a detached house. The new construction units feature high-end quality finishes throughout a light and bright, open concept floor plan. Kitchens are equipped with custom cabinets, slab counters, and stainless steel appliances. The units are finished in neutral tones with tasteful tile and offer a variety of well-performing zero to three-bedroom layouts. The detached two-bedroom home includes a basement, providing ample storage and comfortable living space. The property benefits from a BikeScore of 94 and a WalkScore of 91, situated in a desirable North Portland location. The property size is 4416 square feet.
Key Highlights
- Portfolio diversification: Own 7 units (6 new condos + 1 detached house) in one package.
- New construction condos: Enjoy high‑end finishes, open concept floor plan, custom cabinets, slab counters, and stainless steel appliances.
- Variety of unit types: Mix of 0‑3 bedroom units.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,701
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
Current Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Seven residential units package in desirable North Portland location.
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: Portfolio diversification: Own **7 units (6 new condos + 1 detached house)** in one package.; New construction condos: Enjoy **high‑end finishes, open concept floor plan, custom cabinets, slab counters, and stainless steel appliances**.; Variety of unit types: Mix of 0‑3 bedroom units.
