Six-Unit Apartment
For Sale
$1,799,900
7694 N Montana Ave, Portland, OR 97217
MultiFamily, Portland, OR
Property Size5,770 SF
Lot Size0.10 Acres
Price / SF$311.94
Days on Market52
Property Features for 7694 N Montana Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
RM3
Bedrooms
6
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 8, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 4, Bathroom 6, Bedroom 6, Bathroom 5, Bathroom 2, Bathroom 1, Bathroom 7, Bedroom 2, Bedroom 5
Subdivision
KENTON
Elementary school
Peninsula
Middle school
Ockley Green
High school
Jefferson
Directions
I-5 to N Lombard St, west on N Lombard St, north on N Albina Ave, east on N Farragut St to property.
Standard status
Active
APN
New Construction
Size
5,770 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
FARRAGUT CONDOMINIUMS, UNITS 1-6
Legal Description
FARRAGUT CONDOMINIUMS, UNITS 1-6
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Amenities
in-unit laundry
private fenced patio
Building Details
Year built
2026
Floors in Building
2
Number of units
6
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle
(503) 709-4632
Added: Aug 31
Changed: Oct 21
Last Checked: Oct 21 at 10:06PM
MLS# 208472607
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 at 7694 N Montana Ave includes six residences within 5,770 square feet on a 0.1-acre site. The unit mix comprises two one-bedroom homes, three two-bedroom homes, and one three-bedroom end unit. Interior details include engineered hardwood flooring, oak cabinetry, solid surface countertops, stainless steel appliances, contemporary fixtures, and mini split heating and cooling. Each residence has in-unit laundry and a private fenced patio. The building is planned for completion in 2026 and includes a composition roof.
The property is in North Portland, with a 97 Bike Score and an 83 Walk Score. Farragut Park, Kenton neighborhood amenities, dining, coffee shops, neighborhood retail, and the MAX Yellow Line are identified in the surrounding context.
The property is in North Portland, with a 97 Bike Score and an 83 Walk Score. Farragut Park, Kenton neighborhood amenities, dining, coffee shops, neighborhood retail, and the MAX Yellow Line are identified in the surrounding context.
Key Highlights
- Six residences with a mix of 2 one‑bedroom, 3 two‑bedroom, and 1 three‑bedroom units
- 5,770 square feet on a 0.1‑acre site
- RM3 zoning at 7694 N Montana Ave, Portland, OR 97217
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,087
Cap Rate
4.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,481,740
$1.5M
Cap Rate 7%
$1,058,386
$1.1M
Cap Rate 9%
$823,189
$823.2K
Market Conditions
NOI Build-Up for 5,770 SF
Gross rent
$141.9K $24.60/SF
− Vacancy
−$7.2K −$1.25/SF
EGI
$134.7K $23.35/SF
− OpEx
−$60.6K −$10.51/SF
NOI
$74.1K $12.84/SF
Area
Portland, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,481,740
Cap Rate 7%
$1,058,386
Cap Rate 9%
$823,189
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$926.1K – $1.23M
NOI $74,087 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,425 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
859
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
Frequently Asked Questions
What type of property is this?
Apartment building - RM3-zoned property with a varied unit mix, private patios, in-unit laundry, and contemporary interior finishes.
Where is this apartment building located?
The property is located at 7694 N Montana Ave Portland, OR.
What is the asking price?
The asking price for this property is $1,799,900.
What are key features of this property?
This property features: Six residences with a mix of 2 one‑bedroom, 3 two‑bedroom, and 1 three‑bedroom units; 5,770 square feet on a 0.1‑acre site; RM3 zoning at 7694 N Montana Ave, Portland, OR 97217
