Stabilized 10-Unit Apartment
For Sale
$1,720,000
8130 N Willamette Blvd, Portland, OR 97203
Stabilized 10-unit apartment building with an all–two-bedroom unit mix, off-street parking, and on-site laundry.
Property Size8,420 SF
Days on Market169
Property Features for 8130 N Willamette Blvd
General Information
Standard status
Active
Size
8,420 SF
Property subtype
Multifamily
Occupancy
95%
Site & Location
Neighborhood
Cathedral Park
Additional Details
Multifamily Units
10
Amenities
on-site laundry
bike and motorcycle storage
off-street parking
garage spaces
STABILIZED VINTAGE ASSET: Well-Maintained 1968 Apartment Community Featuring 10 Two-Bedroom Units
SELLER-FINANCING POTENTIAL - Ownership Will Consider Financing for Qualified Buyers, Offering Flexibility Through Competitive Terms and Pricing
PRIME ST. JOHNS LOCATION: Blocks from the Iconic St Johns Bridge and Downtown St Johns, Providing Tenants with Convenient, Walkable Access to Retail, Food, Parks, and Employment
STRONG TENANT APPEAL: On-Site Laundry, Off-Street Parking, Two Garage Spaces, and Walkability Enhance Tenant Satisfaction and Long-Term Retention
VALUE-ADD POTENTIAL: Approximately 15% Rent Upside and Room for Further Strategic Upgrades
RECENT IMPROVEMENTS: New Roof In 2026 and New Siding replacement in 2012 Lead to Higher Curb Appeal and Long-Term Durability
Building Details
Building Size
8,420 SF
Year Built
1968
Stories
2
Units
10
Tenancy
Multi
Listing Agency:
Portland Office
(503) 200-2000
Listed By:
Matthew Bruegge · License #OR: 201260802
(503) 200-2080
Source:
Marcusmillichap
Added: May 8
Changed: Oct 21
Last Checked: Oct 23 at 3:21AM
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 Portland Office
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Investment Insights
Based on property information with market context.
Built in 1968, this stabilized 10-unit apartment community features an all two-bedroom unit mix in a two-story layout with individual exterior entries. Shared amenities include on-site laundry, bike and motorcycle storage, and off-street parking, including two garage spaces. Recent exterior capital improvements include a new roof installed in 2026 and siding replacement completed circa 2012.
Several units have undergone interior renovations, including LVP flooring, updated IKEA cabinetry and appliances, refreshed bathrooms, and open-concept layouts with abundant natural light. Select units also offer private outdoor space. The property is located just blocks from downtown St. Johns and the St. Johns Bridge, with walkability to neighborhood retail, dining, coffee shops, parks, and essential services.
Several units have undergone interior renovations, including LVP flooring, updated IKEA cabinetry and appliances, refreshed bathrooms, and open-concept layouts with abundant natural light. Select units also offer private outdoor space. The property is located just blocks from downtown St. Johns and the St. Johns Bridge, with walkability to neighborhood retail, dining, coffee shops, parks, and essential services.
Key Highlights
- Stabilized 10‑unit apartment community in Portland’s St. Johns neighborhood
- All two‑bedroom unit mix supports tenant demand and consistent leasing interest
- Built in 1968 with a two‑story layout and individual exterior entries
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,113
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,162,260
$2.2M
Cap Rate 7%
$1,544,471
$1.5M
Cap Rate 9%
$1,201,256
$1.2M
Market Conditions
NOI Build-Up for 8,420 SF
Gross rent
$207.1K $24.60/SF
− Vacancy
−$10.6K −$1.25/SF
EGI
$196.6K $23.35/SF
− OpEx
−$88.5K −$10.51/SF
NOI
$108.1K $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%
$2,162,260
Cap Rate 7%
$1,544,471
Cap Rate 9%
$1,201,256
Alternative Uses
Best Use
Apartment 5plus
$1.54M
$1.35M – $1.80M
NOI $108,113 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.36M
$2.07M – $2.76M
NOI $165,518 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
10
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
933
Businesses Nearby
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Business Placement
Demographics for 97203, OR
33,763
Population
13,462
Households
2.5
Avg Household Size
34
Median Age
45%
College-Educated
90%
High-School Grad
10.8 sq mi
ZIP Area
3,126
Density / Sq Mi
$77,619
Median Household Income
$46,152
Median Earnings
$1,551
Median Rent
$468,600
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 - Stabilized 10-unit apartment building with an all–two-bedroom unit mix, off-street parking, and on-site laundry.
Where is this apartment building located?
The property is located at 8130 N Willamette Blvd Portland, OR.
What is the asking price?
The asking price for this property is $1,720,000.
What are key features of this property?
This property features: Stabilized 10‑unit apartment community in Portland’s St. Johns neighborhood; All two‑bedroom unit mix supports tenant demand and consistent leasing interest; Built in 1968 with a two‑story layout and individual exterior entries
