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    1814-1820 18Th Ave Portland, OR 97205

    Sponsored
    For Sale
    $2,500,000

    Nine-unit Portland apartment building, high potential.

    Property size:
    8,291 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a three-building apartment complex in Portland, Oregon's desirable Goose Hollow submarket. The property, situated on a single tax lot at 1814-1820 Southwest Main Street & 1105 SW 18th Avenue (97205), comprises a six-unit building, a duplex, and a single-family residence, totaling nine units. Currently boasting 100% occupancy, all units are leased below market rates, offering immediate upside potential for rental income growth. The property's 8,291 square feet are priced at $301 per square foot, with an asking price of $2,500,000 ($277,000 per unit). The current Net Operating Income (NOI) is $87,810, yielding a 3.51% cap rate, while the pro-forma NOI projects a 3.91% cap rate. Importantly, the RM4 zoning allows for high-density residential development, presenting significant long-term redevelopment possibilities. This is a rare chance to acquire a well-located, income-producing asset with substantial upside in a thriving Portland neighborhood. The property offers a compelling blend of immediate cash flow and future development potential, making it an attractive investment for discerning buyers.

    Property Features for 1814-1820 18Th Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    8,291 SF

    Building Details

    Units
    9

    HighLights

    • $2.5 Million Asking Price
    • 3.91% Pro Forma Cap Rate (3.51% Actual)
    • $277,000 Average Unit Price
    • $301 per Square Foot Average Price
    • 9 Units, 100% Occupied
    • RM4 High‑Density Residential Zoning
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.6922717
    Latitude
    45.5192737

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    FAQs

    What type of property is this?
    Multifamily property - Nine-unit Portland apartment building, high potential.
    Where is this multifamily property located?
    The property is located at 1814-1820 18Th Ave Portland, OR.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: $2.5 Million Asking Price; 3.91% Pro Forma Cap Rate (3.51% Actual); $277,000 Average Unit Price
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1814-1820 18Th Ave Portland, OR 97205
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