Renovated Four-Unit
New
For Sale
$850,000
7612 SE 65th Ave, Portland, OR 97206
Single-level fourplex comprising two duplexes with separate utilities and legal lots.
Property Size3,030 SF
Price / SF$280.53
Days on Market4
Property Features for 7612 SE 65th Ave
General Information
Standard status
Active
Size
3,030 SF
Property subtype
Multi-Family
Financials
Cap Rate
6.8%
Gross Income
$92,880
Gross Rent Multiplier
9.2
Units
Unit Mix
2 x 3-Bedroom/2-Bath, 1 x 3-Bedroom/1-Bath, 1 x 2-Bedroom/1-Bath
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1942
Year Renovated
2019
Buildings
2
Stories
1
Listing Agency:
Opt
Listed By:
Brian Spear, Brian Porter · License #200312221
(503) 515-9374
Source:
Wyndeekono
Added: Sep 19
Last Checked: Sep 21 at 10:08AM
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 Opt
Investment Insights
Based on property information with market context.
This 3,030-square-foot quadplex contains four single-level residences arranged as two duplexes. The unit mix includes two 3-bedroom/2-bath homes, one 3-bedroom/1-bath home, and one 2-bedroom/1-bath home with an attached garage. A substantial renovation completed in 2018/2019 added new electric meters, panels and circuits, PEX plumbing, sewer lines, gas furnaces, water heaters, and refreshed interior finishes. The work also converted garages into bedroom and bathroom space in Units 7614 and 7706 and added a bonus room/bedroom in Unit 7704.
The property is located at 7612 SE 65th Ave in Portland, Oregon, on a quiet residential street. Each duplex has its own utilities and occupies a separate legal lot, providing a configuration that could support division into two duplex parcels. The building dates to 1942 and has a Home Energy Score of 9.
The property is located at 7612 SE 65th Ave in Portland, Oregon, on a quiet residential street. Each duplex has its own utilities and occupies a separate legal lot, providing a configuration that could support division into two duplex parcels. The building dates to 1942 and has a Home Energy Score of 9.
Key Highlights
- Four units totaling 3,030 SF with two 3‑bedroom/2‑bath units, one 3‑bedroom/1‑bath unit, and one 2‑bedroom/1‑bath unit
- Two duplexes with separate utilities on two legal lots of record
- Major remodel completed in 2018/2019
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
$44,496
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
5.23%
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%
$889,920
$889.9K
Cap Rate 7%
$635,657
$635.7K
Cap Rate 9%
$494,400
$494.4K
Market Conditions
NOI Build-Up for 3,030 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
$67.3K $22.20/SF
− Vacancy
−$3.7K −$1.22/SF
EGI
$63.6K $20.98/SF
− OpEx
−$19.1K −$6.29/SF
NOI
$44.5K $14.69/SF
Area
ZIP 97206
Vacancy
5.50%
Lease Rate
$22.20 /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%
$889,920
Cap Rate 7%
$635,657
Cap Rate 9%
$494,400
Alternative Uses
Best Use
Multifamily LT 5
$635.7K
$556.2K – $741.6K
NOI $44,496 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$569.9K
$498.7K – $664.9K
NOI $39,896 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$850.9K
$744.5K – $992.7K
NOI $59,563 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
260
Businesses Nearby
Explore this area
Business Placement
Demographics for 97206, OR
51,072
Population
22,348
Households
2.3
Avg Household Size
38
Median Age
49%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
7,857
Density / Sq Mi
$94,233
Median Household Income
$54,254
Median Earnings
$1,693
Median Rent
$480,500
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?
Quadplex - Single-level fourplex comprising two duplexes with separate utilities and legal lots.
Where is this quadplex located?
The property is located at 7612 SE 65th Ave Portland, OR.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Four units totaling 3,030 SF with two 3‑bedroom/2‑bath units, one 3‑bedroom/1‑bath unit, and one 2‑bedroom/1‑bath unit; Two duplexes with separate utilities on two legal lots of record; Major remodel completed in 2018/2019
