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3324 SE 11th Ave 3 Unit Apartment Building $845,000 ($281,667/Unit) 5.68% Cap Rate Portland, OR 97202
Investment Highlights
- Fully renovated in 2013 - New Roof, Windows & Siding
- Washer / Dryers in Each Unit
- Walk Score: 93, Bike Score: 98
- Fire Protection Sprinkler System monitored by the Fire Dept.
- Secure Individual Storage & Bike Storage
- Easy Access to Public Transportation & Downtown Portland
Executive Summary
This well located fourplex was completely renovated in 2013, including new roof, windows, siding & sprinkler system. The property consists of two 1-bedrooms & two 2-bedrooms, along with one off-street parking space. All units feature a dishwasher, garbage disposal, stacked washer / dryer, range, and refrigerator. Garage has been converted to a secured storage area, with individual storage for each unit. Each unit has sprinklers installed, and is monitored by the Fire Department. The property has easy access to the bus lines on SE Powell or SE Milwaukie & the MAX line, both within a quarter mile. Quick commute into downtown. Close to restaurants and shopping. At a 5.68% cap rate & 10.76 GRM, this property provides steady cash flow from day one. This turnkey investment will provide consistent returns & long-term value growth.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$78,540
|
$27.43
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,356
|
$0.82
|
| Effective Gross Income |
$76,184
|
$26.61
|
| Taxes |
$11,381
|
$3.98
|
| Operating Expenses |
$16,794
|
$5.87
|
| Total Expenses |
$28,175
|
$9.84
|
| Net Operating Income |
$48,009
|
$16.77
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $78,540 |
| Annual Per SF | $27.43 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,356 |
| Annual Per SF | $0.82 |
| Effective Gross Income | |
|---|---|
| Annual | $76,184 |
| Annual Per SF | $26.61 |
| Taxes | |
|---|---|
| Annual | $11,381 |
| Annual Per SF | $3.98 |
| Operating Expenses | |
|---|---|
| Annual | $16,794 |
| Annual Per SF | $5.87 |
| Total Expenses | |
|---|---|
| Annual | $28,175 |
| Annual Per SF | $9.84 |
| Net Operating Income | |
|---|---|
| Annual | $48,009 |
| Annual Per SF | $16.77 |
Property Facts
| Price | $845,000 | Apartment Style | Low-Rise |
| Price Per Unit | $281,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 5.68% | Building Size | 2,863 SF |
| Gross Rent Multiplier | 10.76 | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1910/2013 |
| Property Subtype | Apartment | Parking Ratio | 0.3/1,000 SF |
| Zoning | CS - The CM2 zone is a medium-scale, commercial mixed use zone intended for sites in a variety of centers and corridors, in other mixed use areas that are | ||
| Price | $845,000 |
| Price Per Unit | $281,667 |
| Sale Type | Investment |
| Cap Rate | 5.68% |
| Gross Rent Multiplier | 10.76 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 2,863 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1910/2013 |
| Parking Ratio | 0.3/1,000 SF |
| Zoning | CS - The CM2 zone is a medium-scale, commercial mixed use zone intended for sites in a variety of centers and corridors, in other mixed use areas that are |
Amenities
Unit Amenities
- Washer/Dryer
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | $1,700 | 985 |
| 2+1 | 1 | $1,920 | 894 |
| 1+1 | 1 | $1,500 | 654 |
Walk Score®
Walker's Paradise (92)
Bike Score®
Biker's Paradise (98)
Property Taxes
| Parcel Number | R146563 | Total Assessment | $435,460 |
| Land Assessment | $0 | Annual Taxes | $11,381 ($3.98/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
Property Taxes
Parcel Number
R146563
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$435,460
Annual Taxes
$11,381 ($3.98/SF)
Tax Year
2025
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3324 SE 11th Ave
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