New Four-Unit Portfolio in
For Sale
$1,689,900
7448 SE Tolman ST, Portland, OR 97206
Newly constructed four-unit property near SE Woodstock Blvd.
Property Size4,282 SF
Lot Size0.11 Acres
Days on Market190
Property Features for 7448 SE Tolman ST
General Information
Standard status
Active
Size
4,282 SF
Lot size
0.11 Acres
Property subtype
Multi-Family
Amenities
Security System
Heat Pump
Mini Split
Composition
Building Details
Building Size
4,282 SF
Year Built
2026
Stories
2
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 709-4632
Listed By:
Darryl Bodle II · License #199910100
(503) 709-4632
Source:
Kw
Added: Feb 15
Changed: Aug 24
Last Checked: Aug 23 at 1:03PM
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 Keller Williams Realty Portland Premiere
Investment Insights
Based on property information with market context.
This newly constructed four-unit portfolio is located approximately 2.5 to 3 miles from the restaurants, cafes, bars, and retail of SE Woodstock Blvd in Southeast Portland. The property was designed and developed by a multi-year Street of Dreams builder and Builder of the Year award winner. The portfolio consists of two three-bedroom homes and two two-bedroom homes, each offering two and a half bathrooms and two-story floor plans. Main levels feature open-concept great rooms with living, dining, and kitchen areas. The kitchens offer solid surface countertop space, stainless steel appliances, ample cabinetry, and large islands with eat bar seating, plus a main-level half bath. Upper levels include primary suites with ensuite baths, hall baths for secondary bedrooms, and upstairs laundry. Each residence includes a private fenced patio, while the rear home offers a larger yard area. Energy-efficient ductless heat pump systems provide year-round comfort and efficiency. Daily conveniences line nearby SE 82nd Avenue within roughly half a mile, and Lents Park, approximately 1.1 miles away, offers greenspace, walking paths, and sports facilities. Pro forma financials indicate an estimated 5.11% cap rate.
Key Highlights
- New construction four‑unit portfolio in a desirable Southeast Portland location near SE Woodstock Blvd.
- Developed by an award‑winning, reputable builder, ensuring high design quality and durable construction.
- Mix of two and three‑bedroom homes, each with 2.5 bathrooms, designed for optimal functionality and tenant appeal.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$62,882
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,257,640
$1.3M
Cap Rate 7%
$898,314
$898.3K
Cap Rate 9%
$698,689
$698.7K
Market Conditions
NOI Build-Up for 4,282 SF
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.
Gross rent
$95.1K $22.20/SF
− Vacancy
−$5.2K −$1.22/SF
EGI
$89.8K $20.98/SF
− OpEx
−$26.9K −$6.29/SF
NOI
$62.9K $14.69/SF
Area
ZIP 97206
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,257,640
Cap Rate 7%
$898,314
Cap Rate 9%
$698,689
Alternative Uses
Best Use
Multifamily LT 5
$898.3K
$786.0K – $1.05M
NOI $62,882 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$805.4K
$704.8K – $939.7K
NOI $56,381 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,174 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
711
Businesses Nearby
Explore this area
Business Placement
Demographics for 97206, OR
51,072
Population
22,348
Households
2.3
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
7,857
Density / Sq Mi
$94,233
Median Household Income
$54,254
Median Earnings
$1,693
Median Rent
$480,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Newly constructed four-unit property near SE Woodstock Blvd.
Where is this quadplex located?
The property is located at 7448 SE Tolman ST Portland, OR.
What is the asking price?
The asking price for this property is $1,689,900.
What are key features of this property?
This property features: New construction four‑unit portfolio in a desirable Southeast Portland location near SE Woodstock Blvd.; Developed by an award‑winning, reputable builder, ensuring high design quality and durable construction.; Mix of two and three‑bedroom homes, each with 2.5 bathrooms, designed for optimal functionality and tenant appeal.
