Historic Duplex with Second
For Sale
$1,245,000
8867 SE 10th AVE, Portland, OR 97202
Craftsman duplex offering updated living spaces, flexible accommodations, and outdoor areas overlooking a golf course and river.
Property Size4,041 SF
Price / SF$308.09
Days on Market37
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Property Features for 8867 SE 10th AVE
General Information
Standard status
Active
Size
4,041 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1905
Construction
Craftsman
Listing Agency:
Innovate Real Estate LLC
(503) 892-2976
Listed By:
Donna Roberts
(360) 844-3142
Source:
Donnarobertsgroup
Added: Sep 9
Changed: Oct 13
Last Checked: Oct 14 at 10:52PM
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 Innovate Real Estate LLC
Investment Insights
Based on property information with market context.
This Portland duplex combines a 1905 Craftsman residence with a fully permitted second home completed in 2013. The primary residence features clear fir flooring, paneled and tongue-and-groove walls, picture molding, a front porch, spacious living and dining rooms, and a renovated kitchen with quartz counters, custom cabinetry, stainless-steel appliances, and a large island. Its layout includes four bedrooms or office spaces, three full baths, a sunroom, mudroom, utility room, bonus room, and a finished lower level with an oversized two-car garage, an additional single garage, workshop, storage, and craft room.
The 1,031-square-foot second residence has a private entrance, open great room, full kitchen with island, one bedroom, office area, walk-in closet, en-suite bath, and washer and dryer. The property also includes extensive decking, a fenced yard, lawn, grapevines, fruit trees, mature gardens, and two storage sheds. It is across from Waverley Country Club and near Sellwood restaurants, coffee shops, parks, and the Willamette River.
The 1,031-square-foot second residence has a private entrance, open great room, full kitchen with island, one bedroom, office area, walk-in closet, en-suite bath, and washer and dryer. The property also includes extensive decking, a fenced yard, lawn, grapevines, fruit trees, mature gardens, and two storage sheds. It is across from Waverley Country Club and near Sellwood restaurants, coffee shops, parks, and the Willamette River.
Key Highlights
- 4,041‑square‑foot property with a 1905 Craftsman residence and a second home built in 2013
- Fully permitted 1,031‑square‑foot second residence with private entrance and en‑suite bath
- Primary home includes an oversized finished two‑car garage plus an additional single garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,715
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,174,300
$1.2M
Cap Rate 7%
$838,786
$838.8K
Cap Rate 9%
$652,389
$652.4K
Market Conditions
NOI Build-Up for 4,041 SF
Gross rent
$89.7K $22.20/SF
− Vacancy
−$5.8K −$1.44/SF
EGI
$83.9K $20.76/SF
− OpEx
−$25.2K −$6.23/SF
NOI
$58.7K $14.53/SF
Area
ZIP 97202
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,174,300
Cap Rate 7%
$838,786
Cap Rate 9%
$652,389
Alternative Uses
Best Use
Multifamily LT 5
$838.8K
$733.9K – $978.6K
NOI $58,715 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$778.8K
$681.5K – $908.6K
NOI $54,518 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$964.1K
$843.6K – $1.12M
NOI $67,485 @ 7.0% cap · market cap 5.42%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
899
Businesses Nearby
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Business Placement
Demographics for 97202, OR
43,193
Population
20,097
Households
2.1
Avg Household Size
38
Median Age
65%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
6,856
Density / Sq Mi
$100,353
Median Household Income
$52,090
Median Earnings
$1,674
Median Rent
$684,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Craftsman duplex offering updated living spaces, flexible accommodations, and outdoor areas overlooking a golf course and river.
Where is this duplex located?
The property is located at 8867 SE 10th AVE Portland, OR.
What is the asking price?
The asking price for this property is $1,245,000.
What are key features of this property?
This property features: 4,041‑square‑foot property with a 1905 Craftsman residence and a second home built in 2013; Fully permitted 1,031‑square‑foot second residence with private entrance and en‑suite bath; Primary home includes an oversized finished two‑car garage plus an additional single garage
