Building Details

Year Built 1968

Buildings 1

Stories 1

Listing Agency: Kohler Meyers O'Halloran Inc.

Listed By: Darren O'Halloran Show Phone

Source: Evokepropertypartners

Added: Jul 31 Changed: Oct 1 Last Checked: Oct 7 at 4:12PM

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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 Kohler Meyers O'Halloran Inc.

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Investment Insights

Based on property information with market context.

This 1,708-square-foot duplex was built in 1968 and is arranged on one level. The property includes two residential units, each with a patio and fenced backyard, along with a shared two-car garage that provides storage space. Gas fireplaces were added to the living rooms in 2019, and the roof was replaced in 2021. Electric water heaters are installed and have gas plumbing in place.

The property is located in Gresham’s East Hill Neighborhood, with access to Gresham Station Mall, the new Multnomah County Library, and Historic Downtown Gresham. Unit 880 is occupied, and the property includes features suited to either an investor or an owner-occupant.

Key Highlights

• 1,708 SF duplex with two residential units
• One‑level layout built in 1968
• Roof replaced in 2021

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,679

Cap Rate

4.49%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$453,580 $453.6K

Cap Rate 7%

$323,986 $324.0K

Cap Rate 9%

$251,989 $252.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,708 SF

Gross rent

$33.8K $19.80/SF

− Vacancy

−$1.4K −$0.83/SF

EGI

$32.4K $18.97/SF

− OpEx

−$9.7K −$5.69/SF

NOI

$22.7K $13.28/SF

Area

Gresham, OR

Vacancy

4.20%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$453,580

Cap Rate 7%

$323,986

Cap Rate 9%

$251,989

Alternative Uses

Best Use

Multifamily LT 5

$324.0K

$283.5K – $378.0K (±1% cap)

NOI $22,679 @ 7.0% cap · market cap 4.49%

Second Best

Apartment 5plus

$291.3K

$254.9K – $339.8K (±1% cap)

NOI $20,388 @ 7.0% cap · market cap 4.04%

Theoretical Best

Office A

$390.3K

$341.5K – $455.4K (±1% cap)

NOI $27,321 @ 7.0% cap · market cap 5.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Catering Service Storage Facility Carpet & Flooring Store Restaurant Fish Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

1,760

Businesses Nearby

Explore this area Business Placement

Demographics for 97030, OR

39,492

Population

16,500

Households

2.4

Avg Household Size

37

Median Age

21%

College-Educated

88%

High-School Grad

7.5 sq mi

ZIP Area

5,266

Density / Sq Mi

$61,793

Median Household Income

$40,352

Median Earnings

$1,604

Median Rent

$418,100

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two residential units feature private patios, fenced outdoor areas, fireplaces, and shared two-car garage storage.

Where is this duplex located?

The property is located at 880 NW Florence Ave Gresham, OR.

What is the asking price?

The asking price for this property is $505,000.

What are key features of this property?

This property features: 1,708 SF duplex with two residential units; One‑level layout built in 1968; Roof replaced in 2021