Multifamily Fourplex with Private
For Sale
$1,095,000
8320 N Princeton St, Portland, OR 97203
Occupied fourplex with individually accessed apartments, in-unit laundry, stainless steel appliances, and professional property management.
Property Size4,324 SF
Price / SF$253.24
Days on Market40
Property Features for 8320 N Princeton St
General Information
Standard status
Active
Size
4,324 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Amenities
covered lockable trash and recycling storage area
secure private entryway
alarm monitoring system
outdoor bike rack
in-unit washer and dryer
stainless steel appliances
living room ceiling fan
PTAC heating and cooling systems
Building Details
Year Built
2014
Buildings
1
Listing Agency:
24/7 Properties
(503) 482-0500
Listed By:
Jeff Edmondson
Source:
Thesanchezteamoregon
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 28 at 1:08PM
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 24/7 Properties
Investment Insights
Based on property information with market context.
Built in 2014, this fourplex contains 4 apartments totaling 4,324 square feet. Each residence offers 2 bedrooms, 1 bathroom, a private entrance, laminate hardwood-style flooring, maple cabinetry, stainless steel appliances, an in-unit washer and dryer, a living room ceiling fan, and PTAC heating and cooling. All four units are occupied, and the property is professionally managed by a local property management company.
Additional property features include covered and lockable trash and recycling storage, a secure private entry for the two upper-level apartments, an installed alarm monitoring system, and an outdoor bike rack. The property is in Portland’s Cathedral Park neighborhood, minutes from St. Johns Bridge, the waterfront, Downtown Portland, shopping, parks, amenities, and public transportation.
Additional property features include covered and lockable trash and recycling storage, a secure private entry for the two upper-level apartments, an installed alarm monitoring system, and an outdoor bike rack. The property is in Portland’s Cathedral Park neighborhood, minutes from St. Johns Bridge, the waterfront, Downtown Portland, shopping, parks, amenities, and public transportation.
Key Highlights
- 4,324‑square‑foot fourplex built in 2014
- Four occupied apartments, each with 2 bedrooms and 1 bathroom
- Private entrance provided for every unit
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
$60,258
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
5.50%
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%
$1,205,160
$1.2M
Cap Rate 7%
$860,829
$860.8K
Cap Rate 9%
$669,533
$669.5K
Market Conditions
NOI Build-Up for 4,324 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
$90.8K $21.00/SF
− Vacancy
−$4.7K −$1.09/SF
EGI
$86.1K $19.91/SF
− OpEx
−$25.8K −$5.97/SF
NOI
$60.3K $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 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%
$1,205,160
Cap Rate 7%
$860,829
Cap Rate 9%
$669,533
Alternative Uses
Best Use
Multifamily LT 5
$860.8K
$753.2K – $1.00M
NOI $60,258 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$793.1K
$694.0K – $925.3K
NOI $55,520 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$1.21M
$1.06M – $1.42M
NOI $85,000 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
982
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 - Occupied fourplex with individually accessed apartments, in-unit laundry, stainless steel appliances, and professional property management.
Where is this quadplex located?
The property is located at 8320 N Princeton St Portland, OR.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: 4,324‑square‑foot fourplex built in 2014; Four occupied apartments, each with 2 bedrooms and 1 bathroom; Private entrance provided for every unit
