11-Unit Apartment
For Sale
$2,300,000
7530 North Richmond Avenue, Portland, OR 97203
Recently built multifamily property is fully occupied and includes onsite parking and storage.
Property Size8,375 SF
Price / SF$274.63
Days on Market49
Property Features for 7530 North Richmond Avenue
General Information
Standard status
Active
Size
8,375 SF
Property subtype
Multifamily
Zoning
CM2
Occupancy
100%
Additional Details
Multifamily Units
11
Amenities
storage
Building Details
Building Size
8,375 SF
Year Built
2021
Buildings
1
Listing Agency:
Macadam Forbes
Listed By:
Cooper Collins · License #OR #201250793
(503) 972-7287
Source:
Macadamforbes
Added: Aug 19
Changed: Sep 24
Last Checked: Oct 5 at 4:11PM
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 Macadam Forbes
Investment Insights
Based on property information with market context.
Constructed in 2021, this 11-unit apartment property contains 8,375 square feet and is currently 100% occupied. Onsite parking and storage are included, providing additional physical features for residents and property operations. The property is zoned CM2.
The building is located at 7530 North Richmond Avenue in Portland’s St. Johns neighborhood. Its recent construction and established occupancy provide a clear snapshot of the asset’s current configuration.
The building is located at 7530 North Richmond Avenue in Portland’s St. Johns neighborhood. Its recent construction and established occupancy provide a clear snapshot of the asset’s current configuration.
Key Highlights
- 11‑unit apartment building constructed in 2021
- 8,375 square feet of apartment space
- Currently 100% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$107,535
Cap Rate
4.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,150,700
$2.2M
Cap Rate 7%
$1,536,214
$1.5M
Cap Rate 9%
$1,194,833
$1.2M
Market Conditions
NOI Build-Up for 8,375 SF
Gross rent
$206.0K $24.60/SF
− Vacancy
−$10.5K −$1.25/SF
EGI
$195.5K $23.35/SF
− OpEx
−$88.0K −$10.51/SF
NOI
$107.5K $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%
$2,150,700
Cap Rate 7%
$1,536,214
Cap Rate 9%
$1,194,833
Alternative Uses
Best Use
Apartment 5plus
$1.54M
$1.34M – $1.79M
NOI $107,535 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.35M
$2.06M – $2.74M
NOI $164,633 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
11
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
951
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Recently built multifamily property is fully occupied and includes onsite parking and storage.
Where is this apartment building located?
The property is located at 7530 North Richmond Avenue Portland, OR.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 11‑unit apartment building constructed in 2021; 8,375 square feet of apartment space; Currently 100% occupied
