34-Unit Apartment Community with
723 Se 60th Ave, Portland, OR 97215
For Sale
$7,500,000
A well-maintained community pairs spacious floor plans with garages, off-street parking, and shared greenspace.
Property Size36,693 SF
Price / SF$204.40
Days on Market363
Property Features for 723 Se 60th Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Tenant in Place
Amenities
in-unit washer/dryer
private balconies/patios
greenspace
Building Details
Year Built
Listing Agency:
SMI Commercial Real Estate LLC
Listed By:
Jude Soldati · License OR #201244226
(503) 799-4264
Source:
Portlandpropertylistings
Added: Nov 16, 2025
Changed: Nov 8
Last Checked: Nov 10 at 11:38AM
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 SMI Commercial Real Estate LLC
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Investment Insights
Based on property information with market context.
Built in 1993, this 34-unit apartment community offers open layouts, with a mix weighted toward two-bedroom, two-bathroom homes. Units include full-size in-unit washer-dryers and private balconies or patios. The property also features garages, off-street parking, and greenspace, and measures 36,693 square feet. Its reported condition does not point to significant near-term capital work.
The property is at 723 SE 60th Ave in Portland, near Mt. Tabor Park and close-in East Portland amenities.
The property is at 723 SE 60th Ave in Portland, near Mt. Tabor Park and close-in East Portland amenities.
Key Highlights
- 34 apartment units in a 36,693‑square‑foot property
- Built in 1993
- Unit mix weighted toward two‑bedroom, two‑bathroom layouts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$471,137
Cap Rate
6.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,422,740
$9.4M
Cap Rate 7%
$6,730,529
$6.7M
Cap Rate 9%
$5,234,856
$5.2M
Market Conditions
NOI Build-Up for 36,693 SF
Gross rent
$902.6K $24.60/SF
− Vacancy
−$46.0K −$1.25/SF
EGI
$856.6K $23.35/SF
− OpEx
−$385.5K −$10.51/SF
NOI
$471.1K $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%
$9,422,740
Cap Rate 7%
$6,730,529
Cap Rate 9%
$5,234,856
Alternative Uses
Best Use
Apartment 5plus
$6.73M
$5.89M – $7.85M
NOI $471,137 @ 7.0% cap · market cap 6.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.30M
$9.02M – $12.02M
NOI $721,301 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
34
Residential units
Location Intelligence
Trade Area within ½ mile
754
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
$658,500
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Portland, OR
Properties on Market for Apartment buildings in Portland
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - A well-maintained community pairs spacious floor plans with garages, off-street parking, and shared greenspace.
Where is this apartment building located?
The property is located at 723 Se 60th Ave Portland, OR.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: 34 apartment units in a 36,693‑square‑foot property; Built in 1993; Unit mix weighted toward two‑bedroom, two‑bathroom layouts
