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1607 NE 26th Ave 5 Unit Apartment Building $1,150,000 ($230,000/Unit) 6.45% Cap Rate Portland, OR 97232
Executive Summary
Great Sullivan's Gulch Hollywood neighborhood. This small complex is in a terrific location, One block off NE Broadway, close to entertainment, restaurants, bars, shopping and coffee shops. Within blocks of Fred Meyer and New Seasons. Close to bus and MAX lines and I-84. Great location between Lloyd Center and scenic Grant Park. Laundry facilities on site. Additional storage for each unit. Off street parking. Water and garbage included. Roof replaced in June 2025, driveway asphalted in 2017, all units have electric cadet heating, solid surface flooring. This is a great investment opportunity.
Property Facts
| Price | $1,150,000 | Property Subtype | Apartment |
| Price Per Unit | $230,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 6.45% | Building Size | 3,826 SF |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1968 |
| Zoning | R2.5 | ||
| Price | $1,150,000 |
| Price Per Unit | $230,000 |
| Sale Type | Investment |
| Cap Rate | 6.45% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 3,826 SF |
| No. Stories | 2 |
| Year Built | 1968 |
| Zoning | R2.5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | - | - |
| 1+2 | 4 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Good public transit
60/100
Very bikeable
80/100
Property Taxes
| Parcel Number | R128171 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $414,510 |
Property Taxes
Parcel Number
R128171
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$414,510
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1607 NE 26th Ave