Six-Unit Courtyard Apartment
7222 E Burnside St Portland, OR 97215
7222 E Burnside St, Portland, OR, 97215
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For Sale
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Well-maintained six-unit courtyard building with five two-bedroom units and one one-bedroom unit, built in 1949.
Property Size4,152 SF
Price / SF$234.83
Days on Market9
Property Features for 7222 E Burnside St
General Information
- Standard status
- Active
- Size
- 4,152 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1949
Listing Agency
NAI Cascade Commercial Real Estate Services, Worldwide
Listed by
Chuck Brazer · License #200301175
Source
Crexi
Added: Jul 9 Checked: Jul 15 at 4:41 pm
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 NAI Cascade Commercial Real Estate Services, Worldwide
Investment Insights
Based on property information with market context.
Burnside Court is a well-maintained six-unit apartment community in a single-level courtyard layout. The unit mix includes five two-bedroom, one-bath apartments and one one-bedroom, one-bath apartment. Constructed in 1949, the wood-frame building features cedar shake siding, double-pane vinyl windows, and a pitched composition shingle roof.
The property includes four off-street parking spaces plus ample street parking. A partial unfinished basement provides shared laundry facilities and tenant storage. Plumbing improvements include replacement of basement plumbing and building piping extending to the sewer connection, along with apartment plumbing updates except for Units #1 and #2.
Interior renovations have been completed as apartments have turned over, and the property is currently 100% occupied. Units #1 and #2 are occupied by long-term tenants and have not received the same recent interior renovations as the remaining apartments.
The property includes four off-street parking spaces plus ample street parking. A partial unfinished basement provides shared laundry facilities and tenant storage. Plumbing improvements include replacement of basement plumbing and building piping extending to the sewer connection, along with apartment plumbing updates except for Units #1 and #2.
Interior renovations have been completed as apartments have turned over, and the property is currently 100% occupied. Units #1 and #2 are occupied by long-term tenants and have not received the same recent interior renovations as the remaining apartments.
Key Highlights
- Six‑unit apartment building built in 1949 with 4,152 SF on a 12,197 SF (0.28‑acre) corner lot
- Unit mix: five 2‑bedroom, 1‑bath units plus one 1‑bedroom, 1‑bath unit
- Currently 100% occupied, with a stated 6.69% cap rate
Local 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 | $102.1k | $24.60 |
| − Vacancy | −$5.2k | −$1.25 |
| EGI | $96.9k | $23.35 |
| − OpEx | −$43.6k | −$10.51 |
| NOI | $53.3k | $12.84 |
4,152 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$761.6K
$666.4K – $888.5K
NOI $53,312 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,619 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained six-unit courtyard building with five two-bedroom units and one one-bedroom unit, built in 1949.
Where is this apartment building located?
The property is located at 7222 E Burnside St Portland, OR.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Six‑unit apartment building built in 1949 with 4,152 SF on a 12,197 SF (0.28‑acre) corner lot; Unit mix: five 2‑bedroom, 1‑bath units plus one 1‑bedroom, 1‑bath unit; Currently 100% occupied, with a stated 6.69% cap rate
