Updated Four-Plex with
For Sale
$825,000
7555 N PORTSMOUTH Ave, Portland, OR 97203
MULTI_FAMILY - Portland, OR
Property Size3,576 SF
Lot Size0.16 Acres
Price / SF$230.70
Days on Market102
Property Features for 7555 N PORTSMOUTH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-1
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 6, Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 8, Bedroom 7
Subdivision
St Johns
Elementary school
Astor
Middle school
Astor
High school
Roosevelt
Directions
N Lombard to N Portsmouth
Standard status
Active
APN
R248738
Size
3,576 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
PORTSMOUTH VILLA EXTD, BLOCK E, LOT 4
Tax Annual Amount
10133
Legal Description
PORTSMOUTH VILLA EXTD, BLOCK E, LOT 4
Utilities
Heating system
Zoned
Amenities
sunrooms
patios
shared garden space
laundry
tenant parking
Building Details
Year built
1970
Floors in Building
2
Number of units
4
Roof type
Composition
Listing Agency:
Real Broker
(855) 450-0442
Listed By:
Marc Zemp · License #201203833
(503) 501-6925
Added: Apr 23
Changed: Aug 2
Last Checked: Aug 2 at 3:06PM
MLS# 185951818
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.
Updated North Portland four-plex on a 0.16-acre lot. Built in 1970, the property contains 4 units, each with two bedrooms and one bathroom over roughly 800–900 square feet. Zoned heating and a composition roof support comfortable day-to-day living.
Three of the units are currently rented, and the fourth unit is vacant and fully remodeled with new flooring, cabinets, countertops, and a refreshed bathroom. Top floor tenants have sunrooms, while the lower-level living spaces include sunny patios. Residents also share garden space, have access to laundry, and benefit from plenty of tenant parking.
Located near University of Portland and the Portsmouth area’s daily conveniences, including parks and nearby retail such as New Seasons and Fred Meyer, with a vibrant mix of coffee shops, restaurants, and bars.
Three of the units are currently rented, and the fourth unit is vacant and fully remodeled with new flooring, cabinets, countertops, and a refreshed bathroom. Top floor tenants have sunrooms, while the lower-level living spaces include sunny patios. Residents also share garden space, have access to laundry, and benefit from plenty of tenant parking.
Located near University of Portland and the Portsmouth area’s daily conveniences, including parks and nearby retail such as New Seasons and Fred Meyer, with a vibrant mix of coffee shops, restaurants, and bars.
Key Highlights
- R‑1 zoned four‑plex on a 0.16‑acre lot (built 1970)
- 4 units, each with two bedrooms and one bathroom over roughly 800–900 SF
- Vacant fourth unit fully remodeled with new flooring, cabinets, countertops, and bathroom
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 | $75.1k | $21.00 |
| − Vacancy | −$3.9k | −$1.09 |
| EGI | $71.2k | $19.91 |
| − OpEx | −$21.4k | −$5.97 |
| NOI | $49.8k | $13.94 |
3,576 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$711.9K
$622.9K – $830.6K
NOI $49,834 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$655.9K
$574.0K – $765.3K
NOI $45,916 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$1.00M
$878.7K – $1.17M
NOI $70,296 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
473
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
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 - Updated North Portland four-plex with sunrooms, patios, shared garden space, and zoned heating under R-1 zoning.
Where is this quadplex located?
The property is located at 7555 N PORTSMOUTH Ave Portland, OR.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: R‑1 zoned four‑plex on a 0.16‑acre lot (built 1970); 4 units, each with two bedrooms and one bathroom over roughly 800–900 SF; Vacant fourth unit fully remodeled with new flooring, cabinets, countertops, and bathroom
