Four-Unit Quadplex with Ductless Heat
For Sale
$1,714,900
7448 SE Tolman St, Portland, OR 97206
MULTI_FAMILY - Portland, OR
Property Size4,282 SF
Lot Size0.11 Acres
Price / SF$400.49
Days on Market171
Property Features for 7448 SE Tolman St
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R2.5
Bedrooms
8
Bathrooms
9
Full bathrooms
9
Rooms
Bathroom 4, Bedroom 6, Bedroom 5, Bedroom 2, Bathroom 2, Bathroom 8, Bathroom 9, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 5, Bathroom 6, Bathroom 1, Bedroom 8, Bathroom 7, Bedroom 7
Subdivision
MT SCOTT - ARLETA
Elementary school
Woodmere
Middle school
Lane
High school
Franklin
Directions
SE Woodstock to SE 74th Ave to SE Tolman St
Standard status
Active
APN
New Construction
Size
4,282 SF
Lot size
0.11 Acres
Utilities
Cooling system
Heat Pump
Building Details
Year built
2026
Floors in Building
2
Number of units
4
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: Feb 12
Changed: Aug 2
Last Checked: Aug 2 at 2:06PM
MLS# 511016795
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This newly constructed four-unit quadplex is currently under construction and planned for completion in 2026. The portfolio includes two three-bedroom homes and two two-bedroom homes, with each residence featuring two and a half bathrooms and a two-story layout. Main levels are designed around an open-concept great room that connects living, dining, and kitchen areas, plus a main-level half bath. Upper levels provide primary suites with ensuite baths, hall baths for secondary bedrooms, and upstairs laundry positioned between bedrooms. Each unit includes a private fenced patio, and the rear home is planned with a substantially larger yard area. Energy-efficient ductless heat pump systems support year-round comfort, and the roof is planned with composition materials.
The property is in R2.5 zoning in Southeast Portland, near SE Woodstock Blvd, roughly 2.5 to 3 miles away. Daily conveniences along SE 82nd Avenue are within roughly half a mile, and Lents Park is approximately 1.1 miles away. The lot size is 0.11 acres and the property size is 4,282 SF. Pro forma financials indicate an estimated 5.11% cap rate.
The property is in R2.5 zoning in Southeast Portland, near SE Woodstock Blvd, roughly 2.5 to 3 miles away. Daily conveniences along SE 82nd Avenue are within roughly half a mile, and Lents Park is approximately 1.1 miles away. The lot size is 0.11 acres and the property size is 4,282 SF. Pro forma financials indicate an estimated 5.11% cap rate.
Key Highlights
- Two three‑bedroom units and two two‑bedroom units
- Each unit includes two and a half bathrooms and a two‑story layout
- Private fenced patios; rear home planned with a substantially larger yard
Financial Insights For Multifamily LT 5
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 | $95.1k | $22.20 |
| − Vacancy | −$5.2k | −$1.22 |
| EGI | $89.8k | $20.98 |
| − OpEx | −$26.9k | −$6.29 |
| NOI | $62.9k | $14.69 |
4,282 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$898.3K
$786.0K – $1.05M
NOI $62,882 @ 7.0% cap · market cap 3.67%
Second Best
Apartment 5plus
$805.4K
$704.8K – $939.7K
NOI $56,381 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,174 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
428
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
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Frequently Asked Questions
What type of property is this?
Quadplex - New quadplex in R2.5 zoning with ductless heat pumps and private fenced patios for each unit.
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 $1,714,900.
What are key features of this property?
This property features: Two three‑bedroom units and two two‑bedroom units; Each unit includes two and a half bathrooms and a two‑story layout; Private fenced patios; rear home planned with a substantially larger yard
