Building Details

Building Size 4,416 SF

Year Built 2022

Listing Agency: Keller Williams Realty Portland Premiere

Listed By: Darryl Bodle · License #199910100 Show Phone

Source: Eleeterealestate

Added: May 23, 2022 Changed: Oct 6 Last Checked: Oct 5 at 9:45PM

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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 / 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 (±1% cap)

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 (±1% cap)

NOI $86,809 @ 7.0% cap · market cap 4.57%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Open Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage Electrical Service Nail Salon HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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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.