Modern Multifamily
For Sale
$64,000,000
7560 N Emerald Ave, Portland, OR 97217
MultiFamily, Portland, OR
Property Size170,005 SF
Lot Size6.48 Acres
Price / SF$376.46
Days on Market94
Property Features for 7560 N Emerald Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Varies
Subdivision
KENTON
Elementary school
Peninsula
Middle school
Ockley Green
High school
Jefferson
Directions
N Lombard St, north on N Emerald Ave. DND Tenants.
Standard status
Active
APN
New Construction
Size
170,005 SF
Lot size
6.48 Acres
Utilities
Heating system
Forced Air
Cooling system
Heat Pump
Building Details
Year built
2023
Floors in Building
2
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: Jun 26
Changed: Sep 22
Last Checked: Sep 27 at 2:06PM
MLS# 409909207
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 multifamily offering comprises 170 units across 23 separate properties in Portland and along the Oregon Coast. The asset mix includes cottage cluster communities, duplexes, triplexes, and other multifamily configurations. The residences were developed between 2023 and 2025 and include contemporary finishes, efficient floor plans, private outdoor areas, and off-street parking or garages where available.
The properties cover 6.48 acres and represent 170,005 square feet of residential improvements. Locations include multiple Portland neighborhoods and selected coastal communities, providing geographic distribution within the offering. Zoning varies by property. Building systems identified for the portfolio include forced-air heating, heat-pump cooling, and composition roofing.
The properties cover 6.48 acres and represent 170,005 square feet of residential improvements. Locations include multiple Portland neighborhoods and selected coastal communities, providing geographic distribution within the offering. Zoning varies by property. Building systems identified for the portfolio include forced-air heating, heat-pump cooling, and composition roofing.
Key Highlights
- 170‑unit multifamily portfolio comprising 23 separate property offerings
- 170,005 square feet across 6.48 acres
- Property mix includes cottage clusters, duplexes, triplexes, and other multifamily assets
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
$2,369,122
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
3.70%
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%
$47,382,440
$47.4M
Cap Rate 7%
$33,844,600
$33.8M
Cap Rate 9%
$26,323,578
$26.3M
Market Conditions
NOI Build-Up for 170,005 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
$3.57M $21.00/SF
− Vacancy
−$185.6K −$1.09/SF
EGI
$3.38M $19.91/SF
− OpEx
−$1.02M −$5.97/SF
NOI
$2.37M $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /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%
$47,382,440
Cap Rate 7%
$33,844,600
Cap Rate 9%
$26,323,578
Alternative Uses
Best Use
Multifamily LT 5
$33.84M
$29.61M – $39.49M
NOI $2,369,122 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$31.18M
$27.29M – $36.38M
NOI $2,182,859 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$47.74M
$41.77M – $55.70M
NOI $3,341,912 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
170
Residential units
Location Intelligence
Trade Area within ½ mile
547
Businesses Nearby
Explore this area
Business Placement
Demographics for 97217, OR
36,086
Population
17,038
Households
2.1
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
11.1 sq mi
ZIP Area
3,251
Density / Sq Mi
$100,387
Median Household Income
$56,790
Median Earnings
$1,789
Median Rent
$569,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Multifamily property - Newer residential rental assets span Portland and select Oregon Coast locations.
Where is this multifamily property located?
The property is located at 7560 N Emerald Ave Portland, OR.
What is the asking price?
The asking price for this property is $64,000,000.
What are key features of this property?
This property features: 170‑unit multifamily portfolio comprising 23 separate property offerings; 170,005 square feet across 6.48 acres; Property mix includes cottage clusters, duplexes, triplexes, and other multifamily assets
