Updated Multifamily
For Sale
$590,000
9212 N Saint Louis Ave, Portland, OR 97203
Multifamily property with renovated kitchens and baths, upgraded building systems, and established long-term tenancy.
Property Size2,484 SF
Price / SF$237.52
Days on Market77
Property Features for 9212 N Saint Louis Ave
General Information
Standard status
Active
Size
2,484 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1960
Listing Agency:
Pozitive Properties NW
Listed By:
Walter Pozarycki
(503) 860-3913
Source:
Rosecityrealtygroup
Added: Aug 3
Changed: Oct 3
Last Checked: Oct 7 at 2:18PM
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 Pozitive Properties NW
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Investment Insights
Based on property information with market context.
This multifamily property was built in 1960 and has received extensive system and interior updates. Each unit has a new heat pump, while electrical panels and plumbing have also been upgraded. Weatherization improvements include blown-in wall insulation and double-pane windows. Kitchens and bathrooms were remodeled in 2010 and 2012, and a new roof was installed in April 2026.
The property includes three addressed components: 9212, 9216, and 9220 N Saint Louis Ave. Water and sewer service is separately metered for 9220, where the tenant pays those charges. Ownership covers water and sewer for 9212 and 9216. The property also carries a Home Energy Score of 7, with a report available through the Home Energy Score program.
The property includes three addressed components: 9212, 9216, and 9220 N Saint Louis Ave. Water and sewer service is separately metered for 9220, where the tenant pays those charges. Ownership covers water and sewer for 9212 and 9216. The property also carries a Home Energy Score of 7, with a report available through the Home Energy Score program.
Key Highlights
- New heat pumps installed in all units
- New electrical panels and updated plumbing
- Kitchens and baths remodeled in 2010 and 2012
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,894
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$637,880
$637.9K
Cap Rate 7%
$455,629
$455.6K
Cap Rate 9%
$354,378
$354.4K
Market Conditions
NOI Build-Up for 2,484 SF
Gross rent
$61.1K $24.60/SF
− Vacancy
−$3.1K −$1.25/SF
EGI
$58.0K $23.35/SF
− OpEx
−$26.1K −$10.51/SF
NOI
$31.9K $12.84/SF
Area
Portland, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$637,880
Cap Rate 7%
$455,629
Cap Rate 9%
$354,378
Alternative Uses
Best Use
Apartment 5plus
$455.6K
$398.7K – $531.6K
NOI $31,894 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$697.6K
$610.4K – $813.8K
NOI $48,830 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,011
Businesses Nearby
Explore this area
Business Placement
Demographics for 97203, OR
33,763
Population
13,462
Households
2.5
Avg Household Size
34
Median Age
45%
College-Educated
90%
High-School Grad
10.8 sq mi
ZIP Area
3,126
Density / Sq Mi
$77,619
Median Household Income
$46,152
Median Earnings
$1,551
Median Rent
$468,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property with renovated kitchens and baths, upgraded building systems, and established long-term tenancy.
Where is this multifamily property located?
The property is located at 9212 N Saint Louis Ave Portland, OR.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: New heat pumps installed in all units; New electrical panels and updated plumbing; Kitchens and baths remodeled in 2010 and 2012
