Occupied Fourplex with Private
For Sale
$1,095,000
8320 N PRINCETON St, Portland, OR 97203
MultiFamily, Portland, OR
Property Size4,324 SF
Lot Size0.12 Acres
Price / SF$253.24
Days on Market182
Property Features for 8320 N PRINCETON St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 5, Bedroom 6, Bathroom 1, Bedroom 4, Bedroom 7, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 8, Bedroom 3, Bathroom 2
Elementary school
James John
Middle school
George
High school
Roosevelt
Directions
Between N Leavitt Ave & N Charleston Ave
Subdivision
_141
Standard status
Active
APN
R658489
Size
4,324 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
JAMES JOHNS 2ND ADD, BLOCK 23, LOT 7
Tax Annual Amount
16454
Legal Description
JAMES JOHNS 2ND ADD, BLOCK 23, LOT 7
Utilities
Heating system
Forced Air
Cooling system
Wall Unit(s)
Amenities
private entrance
laminate hardwood flooring
maple cabinetry
stainless steel appliances
in-unit washer and dryer
living room ceiling fan
PTAC heating and cooling
covered lockable trash and recycling storage
secure private entryway
alarm monitoring system
outdoor bike rack
Building Details
Year built
2014
Floors in Building
2
Number of units
4
Roof type
Composition
Listing Agency:
24/7 Properties
(503) 482-0500
Listed By:
Jeff Edmondson
(503) 780-3030
Added: Mar 20
Changed: Sep 17
Last Checked: Sep 17 at 12:06PM
MLS# 607818350
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.
Investment Insights
Based on property information with market context.
Built in 2014, this fourplex contains 4 residential units totaling 4,324 square feet on a 0.12-acre parcel. Every apartment includes 2 bedrooms and 1 bathroom, with a separate entrance, laminate hardwood-style flooring, maple cabinetry, stainless steel appliances, in-unit washer and dryer, and a living room ceiling fan. Heating is provided by forced air, with wall-unit cooling. The property also includes a composition roof, covered lockable trash and recycling storage, an outdoor bike rack, and a secured entry for the two upper-level units. An alarm monitoring system is installed, and all four units are occupied. The property is professionally managed by a local property management company.
Located at 8320 N PRINCETON St in Portland’s Cathedral Park neighborhood, the property is near St. Johns Bridge, the waterfront, Downtown Portland, shopping, parks, amenities, and public transportation. RM2 zoning applies.
Located at 8320 N PRINCETON St in Portland’s Cathedral Park neighborhood, the property is near St. Johns Bridge, the waterfront, Downtown Portland, shopping, parks, amenities, and public transportation. RM2 zoning applies.
Key Highlights
- 4 units, each with 2 bedrooms and 1 bathroom
- 4,324 square feet on a 0.12‑acre lot
- Built in 2014; all four units are occupied
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units feature private entrances, in-unit laundry, and individually designed living spaces.
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 units, each with 2 bedrooms and 1 bathroom; 4,324 square feet on a 0.12‑acre lot; Built in 2014; all four units are occupied
