9-Unit Apartment
For Sale
$1,600,000
9512 N Oswego Avenue, Portland, OR 97203
Seven-unit apartment building and duplex with off-street parking assigned to every residence.
Property Size6,387 SF
Price / SF$250.51
Days on Market77
Property Features for 9512 N Oswego Avenue
General Information
Standard status
Active
Size
6,387 SF
Property subtype
Multi-family
Units
Unit Mix
8 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
9
Building Details
Year Built
1974
Buildings
2
Listing Agency:
SMI Commercial Real Estate LLC
Listed By:
Jude Soldati
(503) 799-4264
Source:
Century21northhomes
Added: Jul 22
Changed: Oct 4
Last Checked: Oct 5 at 9:09PM
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 SMI Commercial Real Estate LLC
Investment Insights
Based on property information with market context.
This multifamily asset combines a seven-unit apartment building with a separate duplex on one tax lot, creating nine residences in total. The configuration includes eight two-bedroom, one-bath units and one one-bedroom, one-bath unit. Off-street parking is provided for each unit. The apartment building was constructed in 1974, and its plumbing has been replaced with PEX. Utility reimbursements are partially implemented, while current rents remain below comparable market levels.
The property is in Portland’s St. Johns neighborhood at the corner of N Fessenden Street and N Oswego Avenue, one block from the N Lombard Street corridor. Downtown Portland is approximately nine miles south. The asset offers an established multifamily configuration with documented physical upgrades and operating initiatives already underway.
The property is in Portland’s St. Johns neighborhood at the corner of N Fessenden Street and N Oswego Avenue, one block from the N Lombard Street corridor. Downtown Portland is approximately nine miles south. The asset offers an established multifamily configuration with documented physical upgrades and operating initiatives already underway.
Key Highlights
- Nine total units: a seven‑unit apartment building plus a duplex
- Eight 2 Bed / 1 Bath units and one 1 Bed / 1 Bath unit
- Off‑street parking provided for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,009
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,640,180
$1.6M
Cap Rate 7%
$1,171,557
$1.2M
Cap Rate 9%
$911,211
$911.2K
Market Conditions
NOI Build-Up for 6,387 SF
Gross rent
$157.1K $24.60/SF
− Vacancy
−$8.0K −$1.25/SF
EGI
$149.1K $23.35/SF
− OpEx
−$67.1K −$10.51/SF
NOI
$82.0K $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%
$1,640,180
Cap Rate 7%
$1,171,557
Cap Rate 9%
$911,211
Alternative Uses
Best Use
Apartment 5plus
$1.17M
$1.03M – $1.37M
NOI $82,009 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,554 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
715
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit apartment building and duplex with off-street parking assigned to every residence.
Where is this apartment building located?
The property is located at 9512 N Oswego Avenue Portland, OR.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Nine total units: a seven‑unit apartment building plus a duplex; Eight 2 Bed / 1 Bath units and one 1 Bed / 1 Bath unit; Off‑street parking provided for each unit
