Multifamily Property in Lents
8451 Southeast Foster Road Portland, OR 97266
8451 Southeast Foster Road, Portland, OR, 97266
$1,175,000
For Sale
$1,175,000
7-unit multifamily property in Southeast Portland's vibrant Lents neighborhood.
Property Size5,225 SF
Price / SF$224.88
Days on Market178
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 Agency
John L. Scott Portland Central
(503) 936-3905
Listed by
Doug Landers · License #200903041
(503) 936-3905
Source
Compass
Added: Jan 21 Checked: Jul 17 at 4:48 am
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
Investment Insights
Based on property information with market context.
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.
Key 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.
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 5.71%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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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 $1,175,000.
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.
