Six-Bedroom Multifamily
New
For Sale
$565,000
8031 E BURNSIDE ST, Portland, OR 97215
Two kitchens and separate outdoor areas provide a flexible residential layout.
Property Size2,670 SF
Days on Market5
Property Features for 8031 E BURNSIDE ST
General Information
Standard status
Active
Size
2,670 SF
Property subtype
MULTI_FAMILY
Property Condition
Severity
Repairs Needed
Evidence
could use some updating and TLC
Site & Location
Neighborhood
Southeast
Taxes and HOA fees
Annual Taxes
$4,133
Amenities
private backyard
private patio
Building Details
Building Size
2,670 SF
Year Built
1898
Listing Agency:
Keller Williams Premier Partners
Listed By:
Timothy Fowler
(503) 381-3084
Source:
Eleeterealestate
Added: Oct 29
Changed: Oct 31
Last Checked: Nov 1 at 12:09PM
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 Premier Partners
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1898, this multifamily residence contains 2,670 square feet, with six bedrooms, three bathrooms, and two kitchens. The interior requires updating, while its existing configuration offers multiple living spaces to work with. A backyard and an upper-level rear patio provide outdoor areas.
Restaurants, retail shopping, and schools are located a few blocks from the property on East Burnside Street in Portland.
Restaurants, retail shopping, and schools are located a few blocks from the property on East Burnside Street in Portland.
Key Highlights
- 2,670‑square‑foot residence built in 1898
- Six bedrooms, three bathrooms, and two kitchens
- Private backyard and upper rear patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,283
Cap Rate
6.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$685,660
$685.7K
Cap Rate 7%
$489,757
$489.8K
Cap Rate 9%
$380,922
$380.9K
Market Conditions
NOI Build-Up for 2,670 SF
Gross rent
$65.7K $24.60/SF
− Vacancy
−$3.3K −$1.25/SF
EGI
$62.3K $23.35/SF
− OpEx
−$28.0K −$10.51/SF
NOI
$34.3K $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%
$685,660
Cap Rate 7%
$489,757
Cap Rate 9%
$380,922
Alternative Uses
Best Use
Apartment 5plus
$489.8K
$428.5K – $571.4K
NOI $34,283 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$749.8K
$656.1K – $874.8K
NOI $52,486 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,052
Businesses Nearby
Explore this area
Business Placement
Demographics for 97215, OR
18,221
Population
7,855
Households
2.3
Avg Household Size
40
Median Age
64%
College-Educated
97%
High-School Grad
2.3 sq mi
ZIP Area
7,922
Density / Sq Mi
$114,361
Median Household Income
$62,704
Median Earnings
$1,587
Median Rent
$658,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two kitchens and separate outdoor areas provide a flexible residential layout.
Where is this multifamily property located?
The property is located at 8031 E BURNSIDE ST Portland, OR.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 2,670‑square‑foot residence built in 1898; Six bedrooms, three bathrooms, and two kitchens; Private backyard and upper rear patio
