Single-Level
New
For Sale
$450,000
8240 SE Kelly ST, Portland, OR 97266
Two three-bedroom residences each include private laundry hookups and a fenced backyard.
Property Size1,100 SF
Price / SF$409.09
Days on Market5
Property Features for 8240 SE Kelly ST
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Neighborhood
Powellhurst-Gilbert
Highway Access
Yes
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$45,240
Building Details
Year Built
1995
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
United Real Estate Properties
Listed By:
Nick Shivers Team | eXp Realty
(503) 594-0805
Source:
Nickshivers
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 23 at 7:08AM
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 United Real Estate Properties
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Investment Insights
Based on property information with market context.
Built in 1995, this 1,100-square-foot duplex contains two single-level residences, each with three bedrooms and two bathrooms. Separate entrances, laundry hookups, fenced backyards and storage sheds serve the units. The property is tenant occupied, with month-to-month tenancies and one long-term resident paying below-market rent.
The property is in Southeast Portland, minutes from I-205 and near Portland Community College Southeast. Showings are available only after an offer is accepted.
The property is in Southeast Portland, minutes from I-205 and near Portland Community College Southeast. Showings are available only after an offer is accepted.
Key Highlights
- Two units, each with 3 bedrooms and 2 bathrooms
- 1,100 square feet; built in 1995
- Separate entrances, laundry hookups, fenced backyards and storage sheds
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,329
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$306,580
$306.6K
Cap Rate 7%
$218,986
$219.0K
Cap Rate 9%
$170,322
$170.3K
Market Conditions
NOI Build-Up for 1,100 SF
Gross rent
$23.1K $21.00/SF
− Vacancy
−$1.2K −$1.09/SF
EGI
$21.9K $19.91/SF
− OpEx
−$6.6K −$5.97/SF
NOI
$15.3K $13.94/SF
Area
Portland, OR
Vacancy
5.20%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$306,580
Cap Rate 7%
$218,986
Cap Rate 9%
$170,322
Alternative Uses
Best Use
Multifamily LT 5
$219.0K
$191.6K – $255.5K
NOI $15,329 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$201.8K
$176.6K – $235.4K
NOI $14,124 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$308.9K
$270.3K – $360.4K
NOI $21,624 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,183
Businesses Nearby
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Business Placement
Demographics for 97266, OR
36,095
Population
13,863
Households
2.6
Avg Household Size
37
Median Age
29%
College-Educated
85%
High-School Grad
6.1 sq mi
ZIP Area
5,917
Density / Sq Mi
$71,791
Median Household Income
$39,856
Median Earnings
$1,532
Median Rent
$420,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences each include private laundry hookups and a fenced backyard.
Where is this duplex located?
The property is located at 8240 SE Kelly ST Portland, OR.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 2 bathrooms; 1,100 square feet; built in 1995; Separate entrances, laundry hookups, fenced backyards and storage sheds
