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7448 N Saint Louis Ave, Portland, OR 97203
Twelve-unit multifamily property built in 2020 in Portland's St. Johns.
Property Size7,665 SF
Price / SF$254.40
Days on Market222
Property Features for 7448 N Saint Louis Ave
General Information
Standard status
Active
Size
7,665 SF
Class
B
Property subtype
Multifamily
Investment Type
Stabilized
Net Operating Income
$112,647
Building Details
Year Built
2020
Buildings
1
Stories
3
Units
12
Listing Agency:
Kidder Mathews Portland
Listed By:
Jordan Carter · License #OR 200606025
(503) 221-9900
Source:
Crexi
Added: Feb 26
Changed: Sep 29
Last Checked: Oct 5 at 7:36PM
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 Kidder Mathews Portland
Investment Insights
Based on property information with market context.
Built in 2020, this property in North Portland's St. Johns neighborhood is comprised of twelve units, featuring studios, one, and two-bedroom apartments that average 531 square feet. The units are equipped with full kitchens, quartz countertops, stainless appliances, luxury vinyl plank flooring, washer/dryers, and air conditioning. The property is located in a quiet residential setting, blocks from the heart of downtown St. Johns, providing convenient access to restaurants, cafés, breweries, grocery options, and daily services along N Lombard Street. The location is directly across the street from the Cathedral Park Food Carts Pod. The area is known for its small-town feel, locally owned businesses, and strong neighborhood identity. Nearby landmarks include the St. Johns Bridge and Cathedral Park, offering trails, open green space, and waterfront access along the Willamette River. Pier Park provides additional recreational amenities, including forested walking paths, sports fields, and disc golf. With convenient access to N Lombard Street, N Columbia Boulevard, and Highway 30, the property offers connectivity to Downtown Portland, the NW Industrial District, and the greater metro area. The location is well-served by TriMet bus lines, making it easy for residents to commute or access nearby employment centers. The property has a Walk Score of 91 and a Bike Score of 94.
Key Highlights
- New construction (2020) priced below replacement cost at $166,250 per unit.
- Located in the desirable St. Johns neighborhood with convenient access to restaurants, cafes, breweries, and daily services.
- High Walk Score (91) and Bike Score (94), designated as a 'Biker's Paradise'.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,418
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,968,360
$2.0M
Cap Rate 7%
$1,405,971
$1.4M
Cap Rate 9%
$1,093,533
$1.1M
Market Conditions
NOI Build-Up for 7,665 SF
Gross rent
$188.6K $24.60/SF
− Vacancy
−$9.6K −$1.25/SF
EGI
$178.9K $23.35/SF
− OpEx
−$80.5K −$10.51/SF
NOI
$98.4K $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%
$1,968,360
Cap Rate 7%
$1,405,971
Cap Rate 9%
$1,093,533
Alternative Uses
Best Use
Apartment 5plus
$1.41M
$1.23M – $1.64M
NOI $98,418 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,676 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
941
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Twelve-unit multifamily property built in 2020 in Portland's St. Johns.
Where is this apartment building located?
The property is located at 7448 N Saint Louis Ave Portland, OR.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: New construction (2020) priced below replacement cost at $166,250 per unit.; Located in the desirable St. Johns neighborhood with convenient access to restaurants, cafes, breweries, and daily services.; High Walk Score (91) and Bike Score (94), designated as a 'Biker's Paradise'.
