4-Unit Multifamily
For Sale
$829,000
8309 8315 N Dwight Ave, Portland, OR 97203
Residential income property with updated roofing, on-site laundry, rear parking, and four naturally lit apartments.
Property Size3,185 SF
Lot Size0.29 Acres
Price / SF$260.28
Days on Market28
Property Features for 8309 8315 N Dwight Ave
General Information
Standard status
Active
Size
3,185 SF
Lot size
0.29 Acres
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
on site coin laundry
common front yard
Building Details
Year Built
1955
Listing Agency:
Keller Williams Sunset Corridor
(971) 290-4437
Listed By:
Jeff Yarbor · License #861000008
Source:
Kingdomreal
Added: Aug 2
Changed: Aug 28
Last Checked: Aug 29 at 12:18PM
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 Sunset Corridor
Investment Insights
Based on property information with market context.
This 4-unit multifamily property contains four two-bedroom, one-bath apartments within a 3,185-square-foot building constructed in 1955. Each residence includes a refrigerator and range, while a newer 50-year roof serves the property. The units receive natural light and are supported by shared outdoor space.
The property occupies 0.29 acres in Portland’s Portsmouth neighborhood, described as highly walkable. Coin-operated laundry is located on site, and assigned parking is positioned behind the building. A 9% rent increase is scheduled for August 2026. The property is also included in a two-lot offering.
The property occupies 0.29 acres in Portland’s Portsmouth neighborhood, described as highly walkable. Coin-operated laundry is located on site, and assigned parking is positioned behind the building. A 9% rent increase is scheduled for August 2026. The property is also included in a two-lot offering.
Key Highlights
- Four 2‑bedroom, 1‑bath units in a 3,185 SF multifamily building
- 0.29‑acre property in Portland’s Portsmouth neighborhood
- Newer 50‑year roof
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,385
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$887,700
$887.7K
Cap Rate 7%
$634,071
$634.1K
Cap Rate 9%
$493,167
$493.2K
Market Conditions
NOI Build-Up for 3,185 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$66.9K $21.00/SF
− Vacancy
−$3.5K −$1.09/SF
EGI
$63.4K $19.91/SF
− OpEx
−$19.0K −$5.97/SF
NOI
$44.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$887,700
Cap Rate 7%
$634,071
Cap Rate 9%
$493,167
Alternative Uses
Best Use
Multifamily LT 5
$634.1K
$554.8K – $739.8K
NOI $44,385 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$584.2K
$511.2K – $681.6K
NOI $40,895 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$894.4K
$782.6K – $1.04M
NOI $62,610 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Residential income property with updated roofing, on-site laundry, rear parking, and four naturally lit apartments.
Where is this quadplex located?
The property is located at 8309 8315 N Dwight Ave Portland, OR.
What is the asking price?
The asking price for this property is $829,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units in a 3,185 SF multifamily building; 0.29‑acre property in Portland’s Portsmouth neighborhood; Newer 50‑year roof
