Multifamily Property in Lents
8451 Southeast Foster Road, Portland, OR 97266
7-unit multifamily property in Southeast Portland's vibrant Lents neighborhood.
Type:Multi Family
Property size:
5,225 SFPrice / SF:
$239/SF- Added:
- Feb 5, 2026
- Days on Market:
- 117
- Last Refresh:
- Mar 13 at 6:04 pm
Property Features for 8451 Southeast Foster Road
General Information
- Standard status
- Active
- Size
- 5,225 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1975
Listing agent Doug Landers License #200903041 (503) 936-3905
Listing office John L. Scott Portland Central (503) 936-3905
Listing date Feb 5, 2026
Source Compass
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 John L. Scott Portland Central
HighLights
- Solid financial performance with a 5.12 cap rate and $9,137 NOI per door.
- Well‑maintained 7‑unit multifamily property in the Lents neighborhood of Southeast Portland.
- Features a balanced unit mix of three 2‑bedroom and four 1‑bedroom apartments.
- Conveniently located along a major bus line with easy access to amenities.
- Priced competitively at $1,250,000.
- Long‑term appreciation potential in a continually improving submarket.
Overview
Located in Southeast Portland's Lents neighborhood, this multifamily property features seven units. Constructed in 1973, the property contains a mix of three 2-bedroom apartments and four 1-bedroom apartments. Situated along a major bus line, the location provides convenient access to public transportation, local shops, dining options, and neighborhood amenities. The property has a cap rate of 5.12 and a net operating income of $9,137 per door. The property size is 5,225 square feet.
Local 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 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,712 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.5756809
- Latitude
- 45.4820354
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 7-unit multifamily property in Southeast Portland's vibrant Lents neighborhood.
Where is this apartment building located?
The property is located at 8451 Southeast Foster Road Portland, OR.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Solid financial performance with a **5.12 cap rate and $9,137 NOI per door**.; Well‑maintained 7‑unit multifamily property in the Lents neighborhood of Southeast Portland.; Features a balanced unit mix of three 2‑bedroom and four 1‑bedroom apartments.
