Six-Unit Courtyard Apartment
For Sale
Contact for pricing
Pending
7222 E Burnside St, Portland, OR 97215
Well-maintained six-unit courtyard building with five two-bedroom units and one one-bedroom unit, built in 1949.
Property Size4,152 SF
Days on Market118
Property Features for 7222 E Burnside St
General Information
Standard status
Pending
Size
4,152 SF
Total Parking Spaces
4
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$65,205
Site & Location
Neighborhood
Mt. Tabor
Building Details
Year Built
1949
Buildings
1
Units
6
Tenancy
Multi
Listing Agency:
NAI Cascade Commercial Real Estate Services, Worldwide
Listed By:
Chuck Brazer · License #200301175
(503) 734-7175
Source:
Crexi
Added: Jul 9
Changed: Nov 1
Last Checked: Nov 1 at 3:49AM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,312
Cap Rate
5.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,066,240
$1.1M
Cap Rate 7%
$761,600
$761.6K
Cap Rate 9%
$592,356
$592.4K
Market Conditions
NOI Build-Up for 4,152 SF
Gross rent
$102.1K $24.60/SF
− Vacancy
−$5.2K −$1.25/SF
EGI
$96.9K $23.35/SF
− OpEx
−$43.6K −$10.51/SF
NOI
$53.3K $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%
$1,066,240
Cap Rate 7%
$761,600
Cap Rate 9%
$592,356
Alternative Uses
Best Use
Apartment 5plus
$761.6K
$666.4K – $888.5K
NOI $53,312 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,619 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,086
Businesses Nearby
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Business Placement
Demographics for 97215, OR
18,221
Population
7,855
Households
2.3
Avg Household Size
40
Median Age
64%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
7,922
Density / Sq Mi
$114,361
Median Household Income
$62,704
Median Earnings
$1,587
Median Rent
$658,500
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 - 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 $930,000.
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
