7-Unit Apartment
For Sale
$1,175,000
8451 SE FOSTER Rd, Portland, OR 97266
MULTI_FAMILY - Portland, OR
Property Size5,225 SF
Lot Size0.20 Acres
Price / SF$224.88
Days on Market171
Property Features for 8451 SE FOSTER Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
CM3
Bedrooms
10
Bathrooms
10
Full bathrooms
10
Rooms
Bedroom 2, Bedroom 8, Bathroom 2, Bedroom 7, Bedroom 3, Bathroom 10, Bedroom 5, Bathroom 4, Bathroom 1, Bathroom 6, Bathroom 3, Bathroom 5, Bedroom 9, Bathroom 7, Bedroom 1, Bathroom 9, Bedroom 10, Bathroom 8, Bedroom 4, Bedroom 6
Subdivision
LENTS
Elementary school
Marysville
Middle school
Kellogg
High school
Franklin
Directions
On SE Foster Road - Parking Lot entrance off SE Ellis St at back of property
Standard status
Active
APN
R159034
Size
5,225 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
EVELYN, BLOCK 2, LOT 6&7
Tax Annual Amount
8717
Legal Description
EVELYN, BLOCK 2, LOT 6&7
Utilities
Heating system
Baseboard
Cooling system
Wall Unit(s)
Building Details
Year built
1975
Floors in Building
2
Number of units
7
Roof type
Composition
Listing Agency:
John L. Scott Portland Central
(503) 230-8600
Listed By:
Doug Landers · License #200903041
(503) 936-3905
Added: Feb 12
Changed: Aug 2
Last Checked: Aug 2 at 2:06PM
MLS# 212865825
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 7-unit apartment building offers a straightforward rental mix of three 2-bedroom apartments and four 1-bedroom apartments. The property is heated with baseboard systems and cooled with wall unit(s), with a composition roof.
Located at 8451 SE Foster Rd in Portland’s Lents neighborhood (Multnomah County). The building is positioned conveniently along a major bus line, supporting resident access to public transportation and nearby shops, dining, and neighborhood amenities.
For underwriting, the offering includes a stated cap rate of 5.44. The property sits on a 0.2-acre lot with a reported 5,225 square feet of building area.
Located at 8451 SE Foster Rd in Portland’s Lents neighborhood (Multnomah County). The building is positioned conveniently along a major bus line, supporting resident access to public transportation and nearby shops, dining, and neighborhood amenities.
For underwriting, the offering includes a stated cap rate of 5.44. The property sits on a 0.2-acre lot with a reported 5,225 square feet of building area.
Key Highlights
- CM3 zoning
- 7‑unit apartment building with three 2‑bedroom and four 1‑bedroom apartments
- 0.2‑acre lot and 5,225 SF building area
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $128.5k | $24.60 |
| − Vacancy | −$6.6k | −$1.25 |
| EGI | $122.0k | $23.35 |
| − OpEx | −$54.9k | −$10.51 |
| NOI | $67.1k | $12.84 |
5,225 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$958.4K
$838.6K – $1.12M
NOI $67,089 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,712 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
852
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - CM3-zoned 7-unit building with three 2-bedroom and four 1-bedroom apartments.
Where is this apartment building located?
The property is located at 8451 SE FOSTER Rd Portland, OR.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: CM3 zoning; 7‑unit apartment building with three 2‑bedroom and four 1‑bedroom apartments; 0.2‑acre lot and 5,225 SF building area
