Seven-Unit Apartment
For Sale
$2,994,300
7574 SW 31st Ave, Portland, OR 97219
MultiFamily, Portland, OR
Property Size6,760 SF
Lot Size0.14 Acres
Price / SF$442.94
Days on Market64
Property Features for 7574 SW 31st Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
CM1
Bedrooms
12
Bathrooms
18
Full bathrooms
18
Rooms
Bedroom 6, Bathroom 1, Bathroom 12, Bathroom 13, Bathroom 8, Bedroom 11, Bedroom 9, Bathroom 18, Bathroom 9, Bathroom 11, Bathroom 4, Bathroom 16, Bathroom 5, Bedroom 5, Bedroom 2, Bathroom 2, Bathroom 7, Bedroom 10, Bedroom 7, Bedroom 3, Bathroom 17, Bedroom 12, Bedroom 4, Bathroom 10, Bathroom 15, Bedroom 1, Bedroom 8, Bathroom 14, Bathroom 3, Bathroom 6
Subdivision
MULTNOMAH VILLAGE
Elementary school
Maplewood
Middle school
Jackson
High school
Ida B Wells
Directions
SW Multnomah Blvd to SW Capitol Hwy, north on Capitol Hwy to property near SW 31st Ave.
Standard status
Active
APN
New Construction
Size
6,760 SF
Lot size
0.14 Acres
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Amenities
private patio
in-unit laundry
Building Details
Year built
2026
Floors in Building
2
Number of units
7
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle
(503) 709-4632
Added: Aug 19
Changed: Oct 21
Last Checked: Oct 21 at 11:06PM
MLS# 460796463
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.
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Investment Insights
Based on property information with market context.
This under-construction apartment property is planned as a fourplex and triplex with seven residences totaling approximately 6,760 square feet. Every unit includes two bedrooms, two and one-half bathrooms, a two-story layout, an open main level, private patio space, and laundry. Heat-pump systems provide both heating and cooling. The property is scheduled for completion in 2026 and includes a composition roof. The site measures 0.14 acres and carries CM1 zoning.
Located at 7574 SW 31st Ave in Portland, the property has an 83 Walk Score and sits near Multnomah Arts Center, Village Coffee, Fat City Cafe, Annie Bloom's Books, and Grand Central Bakery. The surrounding Multnomah Village setting also provides access to shops, dining, services, major Southwest Portland transportation corridors, and employment centers.
Located at 7574 SW 31st Ave in Portland, the property has an 83 Walk Score and sits near Multnomah Arts Center, Village Coffee, Fat City Cafe, Annie Bloom's Books, and Grand Central Bakery. The surrounding Multnomah Village setting also provides access to shops, dining, services, major Southwest Portland transportation corridors, and employment centers.
Key Highlights
- Seven residences arranged as a fourplex and triplex
- Approximately 6,760 square feet on a 0.14‑acre site
- All units offer 2 bedrooms and 2 1/2 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?
Apartment building - Under-construction residences offer two-story layouts, private patios, and individual heating and cooling systems.
Where is this apartment building 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 residences arranged as a fourplex and triplex; Approximately 6,760 square feet on a 0.14‑acre site; All units offer 2 bedrooms and 2 1/2 bathrooms
