Duplex with Fenced
New
For Sale
$450,000
8240 SE KELLY St, Portland, OR 97266
MultiFamily, Portland, OR
Property Size2,200 SF
Lot Size0.14 Acres
Price / SF$204.55
Days on Market7
Property Features for 8240 SE KELLY St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM1
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 2, Bathroom 4, Bathroom 3, Bedroom 6, Bedroom 4, Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 1
Subdivision
POWELHURST-GILBERT
Elementary school
Clark
Middle school
Harrison Park
High school
Leodis McDaniel
Directions
82nd Ave, South on Division, North on Powell Blvd, East on Kelly St
Standard status
Active
APN
R238227
Size
2,200 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
PARTITION PLAT 1994-43, LOT 2
Tax Annual Amount
4765
Legal Description
PARTITION PLAT 1994-43, LOT 2
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Amenities
laundry hookups
fully fenced backyard
storage shed
Building Details
Year built
1995
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Keller Williams PDX Central · Keller Williams Realty
(503) 548-4848
Listed By:
Molly LeBlanc
(503) 490-5229
Added: Oct 17
Changed: Oct 22
Last Checked: Oct 23 at 4:06AM
MLS# 676695017
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.
Built in 1995, this single-level duplex contains two 3-bedroom, 2-bathroom homes within 2,200 square feet. Each residence has an independent entrance, laundry hookups, a fenced backyard, and a storage shed. The property occupies a 0.14-acre lot and is zoned RM1. Heating is forced air, cooling is provided by window units, and the roof is composition.
The duplex is in Southeast Portland, with access to I-205 and Portland Community College Southeast nearby. Both homes are tenant occupied on month-to-month arrangements.
The duplex is in Southeast Portland, with access to I-205 and Portland Community College Southeast nearby. Both homes are tenant occupied on month-to-month arrangements.
Key Highlights
- Two 3‑bedroom, 2‑bathroom homes in a single‑level duplex
- 2,200 square feet on a 0.14‑acre lot
- Separate entrance, laundry hookups, fenced backyard, and storage shed for each home
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,658
Cap Rate
6.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$613,160
$613.2K
Cap Rate 7%
$437,971
$438.0K
Cap Rate 9%
$340,644
$340.6K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$46.2K $21.00/SF
− Vacancy
−$2.4K −$1.09/SF
EGI
$43.8K $19.91/SF
− OpEx
−$13.1K −$5.97/SF
NOI
$30.7K $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%
$613,160
Cap Rate 7%
$437,971
Cap Rate 9%
$340,644
Alternative Uses
Best Use
Multifamily LT 5
$438.0K
$383.2K – $511.0K
NOI $30,658 @ 7.0% cap · market cap 6.81%
Second Best
Apartment 5plus
$403.5K
$353.1K – $470.8K
NOI $28,248 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$617.8K
$540.6K – $720.8K
NOI $43,247 @ 7.0% cap · market cap 9.61%
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
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,183
Businesses Nearby
Explore this area
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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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?
Duplex - Each three-bedroom home has laundry hookups, a separate entrance, a fenced yard, and a storage shed.
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 3‑bedroom, 2‑bathroom homes in a single‑level duplex; 2,200 square feet on a 0.14‑acre lot; Separate entrance, laundry hookups, fenced backyard, and storage shed for each home
