Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    8617 Hodge Ave Portland, OR 97203
    Back to Search
    Property profile & analytics

    8617 Hodge Ave Portland, OR 97203

    View on Map
    • Residential income homes
    • 2,327 SF
    • 0.07 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 8617 Hodge Ave

    Year built
    2024
    Lot size
    0.07 lot acres
    Property size
    2,327 SF
    Property type
    Residential income homes
    Property subtype
    Dormitories

    Description

    This exceptional 2024-built, three-unit apartment building presents a compelling investment opportunity in Portland, Oregon. Situated on a 0.07-acre lot, this property boasts a total of 2,327 square feet and features six bedrooms and six and a half bathrooms spread across three spacious units. Each unit offers a bright, open-concept floor plan, chef's kitchens with custom cabinetry, extensive tilework, sleek black finishes, and stainless steel appliances. Private, fenced yards enhance the appeal of each unit. The upper-level units include luxurious primary suites with walk-in showers and exquisite tilework. The property's prime location in the heart of Portland, within walking distance of coffee shops, restaurants, and just one mile from the University of Portland, ensures high occupancy rates and strong rental income. The R5 zoning provides flexibility for future use. This meticulously designed property is further enhanced by a one-year builder warranty, offering peace of mind for the new owner. The building consists of one, two-story structure. This is a turnkey investment ready to generate immediate returns.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Multnomah
    State
    Oregon
    Longitude
    -122.721
    Latitude
    45.5851

    Comparable in this City

    • Value Estimation by Request
      4,746 SF

      8474 Willamette Blvd

      Multifamily properties • 4,746 SF
      8474 Willamette Blvd, Portland, OR 97203
      View Details
    • Value Estimation by Request
      5,489 SF

      7473 New York Ave

      Multifamily properties • 5,489 SF
      7473 New York Ave, Portland, OR 97203
      View Details
    • Value Estimation by Request
      7,857 SF

      6917 Bank St

      Multifamily properties • 7,857 SF
      6917 Bank St, Portland, OR 97203
      View Details
    • Value Estimation by Request
      6,590 SF

      9424 Oswego Ave

      Multifamily properties • 6,590 SF
      9424 Oswego Ave, Portland, OR 97203
      View Details
    • Value Estimation by Request
      3,686 SF

      6679 Fessenden St

      Multifamily properties • 3,686 SF
      6679 Fessenden St, Portland, OR 97203
      View Details
    • Value Estimation by Request
      0.06 Acres

      6624 Columbia Way

      APARTMENT HOUSE (5+ UNITS) • 0.06 Acres
      6624 Columbia Way, Portland, OR 97203-1807
      View Details

    Similar Nearby for Sale

    • $4,143,900
      9,597 SF

      Multifamily Property with 11 Units

      Multifamily property featuring 11 units in Portland, Oregon.
      8330 N Bank St, Portland, OR 97203
      View Details
    • New
      $4,123,900
      9,597 SF

      New Construction Cottage Cluster

      Eleven detached homes in Portland's desirable St. Johns neighborhood.
      8328 N Bank St, Portland, OR 97203
      View Details
    • $1,849,000
      6,370 SF

      Portsmouth 8-Plex Investment Opportunity

      Well-maintained 8-unit multifamily property in a desirable, walkable neighborhood.
      8309-8315 N Dwight Ave, Portland, OR 97203
      View Details
    • New
      $1,799,900
      4,349 SF

      St. Johns Detached Homes Portfolio

      Five detached homes in desirable St. Johns neighborhood.
      6917 N Bank St, Portland, OR 97203
      View Details
    • Contact for pricing
      7,665 SF

      New Multifamily Property in St. Johns

      Twelve-unit multifamily property built in 2020 in Portland's St. Johns.
      7448 N Saint Louis Ave, Portland, OR 97203
      View Details
    • Contact for pricing
      7,500 SF

      St. Johns Multifamily Investment

      9-unit multifamily property in a walkable North Portland neighborhood.
      8220-8236 N Edison St, Portland, OR 97203
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Creative Space with Commercial Kitchen

      Versatile space with kitchen, patio, and potential for various uses.
      7525 N Richmond Ave, Portland, OR 97203
      View Details
    • Contact for pricing

      Second Generation Restaurant For Lease

      Restaurant space available for lease in Portland, Oregon.
      8600 N Ivanhoe St, Portland, OR 97203
      View Details
    • $28 SF/Yr
      761 SF

      Restaurant Space in St. Johns

      Second generation pizza restaurant space available in St. Johns.
      7314 N Burr Ave, Portland, OR 97203
      View Details
    • Contact for pricing
      1,072 SF

      Retail Space Near University

      Retail space with high visibility near the University of Portland.
      5300 N Lombard St, Portland, OR 97203
      View Details
    • Contact for pricing
      84,000 SF

      Warehouse and Office Sublease

      84,000 Sq Ft Class A warehouse and office space.
      7824-7832 N Leadbetter Rd, Portland, OR 97203
      View Details
    • Contact for pricing
      34,734 SF

      Portland Warehouse with Fenced Security

      Warehouse with immediate port access, office space, and security.
      7605 N Upland Dr, Portland, OR 97203
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8617 Hodge Ave
    Portland, OR 97203
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    8617 Hodge Ave, Portland, OR, 97203
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!