Newly Built Four-Unit
For Sale
$1,550,000
8426 E Burnside St, Portland, OR 97216
MultiFamily, Portland, OR
Property Size4,372 SF
Price / SF$354.53
Days on Market60
Property Features for 8426 E Burnside St
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R5
Bedrooms
8
Bathrooms
12
Full bathrooms
12
Rooms
Bedroom 4, Bedroom 3, Bathroom 4, Bathroom 11, Bedroom 2, Bathroom 6, Bedroom 6, Bedroom 8, Bathroom 9, Bathroom 12, Bathroom 5, Bedroom 7, Bathroom 2, Bathroom 7, Bedroom 1, Bedroom 5, Bathroom 8, Bathroom 10, Bathroom 1, Bathroom 3
Subdivision
MONTAVILLA
Elementary school
Vestal
Middle school
Harrison Park
High school
Leodis McDaniel
Directions
Between 84th and 85th and Burnside
Standard status
Active
APN
R284700
Size
4,372 SF
Taxes and HOA fees
Tax Description
Terrace PK, Block 8, W 1/2 of Lot 12&13
Tax Annual Amount
3023
Legal Description
Terrace PK, Block 8, W 1/2 of Lot 12&13
Amenities
window coverings
refrigerators
washer and dryers
custom cabinets
stainless steel hood fans
walk-in closets
double sinks
heating & cooling system
Building Details
Year built
2026
Floors in Building
2
Number of units
10
Roof type
Composition
Listing Agency:
MORE Realty
(503) 353-6673
Listed By:
Leon Simms · License #860900098
(503) 201-8868
Added: Jul 17
Changed: Sep 13
Last Checked: Sep 14 at 12:06AM
MLS# 311707069
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.
This 4,372-square-foot quadplex is under construction for delivery in 2026 and is fully leased. The property is arranged as two duplexes without interior units, with two-story residences featuring 9-foot ceilings, 8-foot doors, custom cabinetry, stainless steel hood fans, window coverings, refrigerators, and washers and dryers. Each residence includes two en suite bedrooms with walk-in closets, while the primary suites offer double sinks and full-height mirrors. A modern heating and cooling system, fiber-cement exterior, composition roof, and mature landscaping round out the improvements.
Located at 8426 E Burnside St in Portland’s Montavilla neighborhood, the property sits four blocks from the heart of Montavilla. The residences back to sunny west-facing yards and a vintage stone house, with abundant on-street parking available. The property is zoned R5.
Located at 8426 E Burnside St in Portland’s Montavilla neighborhood, the property sits four blocks from the heart of Montavilla. The residences back to sunny west-facing yards and a vintage stone house, with abundant on-street parking available. The property is zoned R5.
Key Highlights
- 4,372 SF quadplex under construction with 2026 completion
- Fully leased four‑unit property arranged as two duplexes
- 9' ceilings, 8' tall doors, custom cabinets, and stainless steel hood fans
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
$60,926
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
3.93%
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%
$1,218,520
$1.2M
Cap Rate 7%
$870,371
$870.4K
Cap Rate 9%
$676,956
$677.0K
Market Conditions
NOI Build-Up for 4,372 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
$91.8K $21.00/SF
− Vacancy
−$4.8K −$1.09/SF
EGI
$87.0K $19.91/SF
− OpEx
−$26.1K −$5.97/SF
NOI
$60.9K $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%
$1,218,520
Cap Rate 7%
$870,371
Cap Rate 9%
$676,956
Alternative Uses
Best Use
Multifamily LT 5
$870.4K
$761.6K – $1.02M
NOI $60,926 @ 7.0% cap · market cap 3.93%
Second Best
Apartment 5plus
$801.9K
$701.7K – $935.6K
NOI $56,136 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,944 @ 7.0% cap · market cap 5.54%
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
1,024
Businesses Nearby
Explore this area
Business Placement
Demographics for 97216, OR
17,488
Population
7,235
Households
2.4
Avg Household Size
39
Median Age
33%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
6,995
Density / Sq Mi
$71,951
Median Household Income
$42,537
Median Earnings
$1,390
Median Rent
$439,000
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four fully leased residences with upgraded finishes, private west-facing yards, and efficient heating and cooling systems.
Where is this quadplex located?
The property is located at 8426 E Burnside St Portland, OR.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 4,372 SF quadplex under construction with 2026 completion; Fully leased four‑unit property arranged as two duplexes; 9' ceilings, 8' tall doors, custom cabinets, and stainless steel hood fans
