Detached Cottage Apartment
9213 N Seneca St Portland, OR 97203
New
For Sale
$2,719,900
MULTI_FAMILY - Portland, OR
Property Size7,864 SF
Lot Size0.23 Acres
Price / SF$345.87
Days on Market2
Property Features for 9213 N Seneca St
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R5
Bedrooms
4
Bathrooms
6
Rooms
Bathroom 4, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1, Bathroom 6, Bathroom 3, Bathroom 5, Bedroom 4
Standard status
Active
APN
New Construction
Size
7,864 SF
Lot size
0.23 Acres
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Building Details
Year built
2026
Floors in Building
2
Number of units
8
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: Jul 29
Last Checked: Jul 30 at 4:06AM
MLS# 367314455
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
St. Johns Eight is a newly completed build-to-rent portfolio consisting of eight detached cottages delivered vacant. Each home is separately addressed and features two bedrooms, 2.5 bathrooms, a two-story layout, private patios, and convenient in-unit laundry. Interiors include tall ceilings and bright great rooms, warm modern cabinetry, solid surface countertops, extensive tile backsplashes, and stainless steel appliances. Energy-efficient mini splits provide zoned heating and cooling, and each residence includes generous storage and a main level half bath, with two upper-level bedrooms and two full bathrooms. Select residences include kitchen islands with eat bars.
The community is served by a central pedestrian walkway and is located in Portland’s St. Johns area. The property is zoned R5 and is offered with unit consistency intended to streamline leasing and operations during initial stabilization.
The detached configuration and private outdoor space are key features of the site’s layout, and the property includes warranties associated with the new construction.
The community is served by a central pedestrian walkway and is located in Portland’s St. Johns area. The property is zoned R5 and is offered with unit consistency intended to streamline leasing and operations during initial stabilization.
The detached configuration and private outdoor space are key features of the site’s layout, and the property includes warranties associated with the new construction.
Key Highlights
- New construction apartment build‑to‑rent portfolio of 8 detached cottages in Portland’s St. Johns neighborhood (Year built: 2026)
- Offered vacant for new ownership control over lease‑up, tenant selection, rent positioning, and management
- Each cottage features 2 bedrooms and 2.5 bathrooms with two stories and a private patio
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 | $193.5k | $24.60 |
| − Vacancy | −$9.9k | −$1.25 |
| EGI | $183.6k | $23.35 |
| − OpEx | −$82.6k | −$10.51 |
| NOI | $101.0k | $12.84 |
7,864 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,974 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.21M
$1.93M – $2.58M
NOI $154,588 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Newly completed build-to-rent portfolio of eight separately addressed 2-bedroom detached cottages with private patios.
Where is this apartment building located?
The property is located at 9213 N Seneca St Portland, OR.
What is the asking price?
The asking price for this property is $2,719,900.
What are key features of this property?
This property features: New construction apartment build‑to‑rent portfolio of 8 detached cottages in Portland’s St. Johns neighborhood (Year built: 2026); Offered vacant for new ownership control over lease‑up, tenant selection, rent positioning, and management; Each cottage features 2 bedrooms and 2.5 bathrooms with two stories and a private patio
