Log In/Sign Up
Your email has been sent.
Sullivan's Gulch Four-Plex 2165 NE Multnomah St 4 Unit Apartment Building $1,075,000 ($268,750/Unit) 5.26% Cap Rate Portland, OR 97232
INVESTMENT HIGHLIGHTS
- Extra Large Layouts
- Washer / Dryer in each unit
- Highly Desirable Neighborhood
- Private Decks & Patios
- Off Street Parking
- Stable Rent History
EXECUTIVE SUMMARY
Ideally situated in the highly sought-after Sullivan’s Gulch neighborhood—just south of NE Broadway’s coffee shops, restaurants, boutiques, and light rail—this four-unit property combines strong rental income with an unbeatable location. Tenants love the spacious, townhouse-style layouts, private outdoor spaces, in-unit laundry, decks/patios & off-street parking. Brand new Studio unit was added in 2023, equipped with Sprinkler System. With reliable renters and a proven income record, this is a rare opportunity to own a stable, low-maintenance investment in one of Portland’s most desirable close-in locations
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,075,000 | Apartment Style | Low-Rise |
| Price Per Unit | $268,750 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 5.26% | Building Size | 4,552 SF |
| Gross Rent Multiplier | 11.62 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1975/2023 |
| Property Subtype | Apartment | Parking Ratio | 0.44/1,000 SF |
| Zoning | R2.5 - Residential zone that allows a mix of housing types. Allows SFR, duplexes, triplexes, fourplexes, cottage clusters, and ADUs. | ||
| Price | $1,075,000 |
| Price Per Unit | $268,750 |
| Sale Type | Investment |
| Cap Rate | 5.26% |
| Gross Rent Multiplier | 11.62 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 4,552 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1975/2023 |
| Parking Ratio | 0.44/1,000 SF |
| Zoning | R2.5 - Residential zone that allows a mix of housing types. Allows SFR, duplexes, triplexes, fourplexes, cottage clusters, and ADUs. |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Dishwasher
- Fireplace
- Storage Space
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Sprinkler System
- Stainless Steel Appliances
- Range
- Tub/Shower
- Carpet
- Yard
- Deck
- Dining Room
- Patio
- Window Coverings
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2.5 | 1 | $2,550 | 1,489 |
| 2+1.5 | 2 | $1,968 | 1,148 - 1,315 |
| Studios | 1 | $1,225 | 600 |
1 1
Walk Score®
Very Walkable (86)
Bike Score®
Very Bikeable (83)
1 of 16
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Sullivan's Gulch Four-Plex | 2165 NE Multnomah St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.