7-Unit Apartment
New
For Sale
$2,994,300
7574 SW 31st Ave, Portland, OR 97219
Seven two-story homes feature private patios, in-unit laundry, and mini-split heating and cooling.
Property Size6,760 SF
Price / SF$442.94
Days on Market7
Property Features for 7574 SW 31st Ave
General Information
Standard status
Active
Size
6,760 SF
Property subtype
Multi Family Home
Zoning
CM1
Site & Location
Neighborhood
Multnomah
Units
Unit Mix
7 x 2BR/2.5BA
Multifamily Units
7
Amenities
private patio
in-unit laundry
Building Details
Building Size
6,760 SF
Year Built
2026
Stories
2
Units
7
Listing Agency:
Keller Williams Realty Portland Premiere
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Source:
Duanejohnson
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 26 at 3:44AM
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
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Investment Insights
Based on property information with market context.
Built in 2026, this CM1-zoned multifamily property contains seven residences arranged as a fourplex and a triplex. The homes provide 6,760 square feet in total, with each unit offering two bedrooms and 2.5 bathrooms. Two-level layouts place the kitchen, dining, and living areas on the main floor; bedrooms, full bathrooms, and laundry are upstairs. Private patios and mini-split systems for heating and cooling are included in each residence.
The property is at 7574 SW 31st Ave in Portland, just outside Multnomah Village. The area’s nearby destinations include Multnomah Arts Center, Village Coffee, Fat City Cafe, Annie Bloom's Books, and Grand Central Bakery. The stated Walk Score is 83, and major Southwest Portland transportation corridors and employment centers are accessible from the location.
The property is at 7574 SW 31st Ave in Portland, just outside Multnomah Village. The area’s nearby destinations include Multnomah Arts Center, Village Coffee, Fat City Cafe, Annie Bloom's Books, and Grand Central Bakery. The stated Walk Score is 83, and major Southwest Portland transportation corridors and employment centers are accessible from the location.
Key Highlights
- Seven units across a fourplex and triplex
- 6,760 square feet; built in 2026
- Each residence has 2 bedrooms and 2½ bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,466
Cap Rate
2.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,749,320
$1.7M
Cap Rate 7%
$1,249,514
$1.2M
Cap Rate 9%
$971,844
$971.8K
Market Conditions
NOI Build-Up for 6,760 SF
Gross rent
$169.5K $25.08/SF
− Vacancy
−$10.5K −$1.55/SF
EGI
$159.0K $23.53/SF
− OpEx
−$71.6K −$10.59/SF
NOI
$87.5K $12.94/SF
Area
ZIP 97219
Vacancy
6.20%
Lease Rate
$25.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,749,320
Cap Rate 7%
$1,249,514
Cap Rate 9%
$971,844
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.09M – $1.46M
NOI $87,466 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,886 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,179
Businesses Nearby
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Business Placement
Demographics for 97219, OR
42,474
Population
18,881
Households
2.2
Avg Household Size
40
Median Age
66%
College-Educated
98%
High-School Grad
11.7 sq mi
ZIP Area
3,630
Density / Sq Mi
$115,525
Median Household Income
$59,178
Median Earnings
$1,603
Median Rent
$651,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Seven two-story homes feature private patios, in-unit laundry, and mini-split heating and cooling.
Where is this multifamily property located?
The property is located at 7574 SW 31st Ave Portland, OR.
What is the asking price?
The asking price for this property is $2,994,300.
What are key features of this property?
This property features: Seven units across a fourplex and triplex; 6,760 square feet; built in 2026; Each residence has 2 bedrooms and 2½ bathrooms
