2626 Ne 16th Ave, Portland, Oregon 97212

  • $925,000

Overview

  • 1.0
    Car Garage
  • 5494 Sqft
    Property Size
  • 1910
    Year Built
  • MultiFamily
    Property Type
  • 364546423
    MLS#
  • 0.11 Acres
    Land Area
  • Roffman Real Estate Investments, LLC
    Office Name
  • Cole Roffman
    Agent Name

Description

Irvington Eight offers eight rental units in a 1910 building in Portland’s Irvington Historic District. Very walkable and exceptionally bike-friendly, with a Walk Score of 71 and Bike Score of 99. Updated photographs, floor plans, an interactive walkthrough and a photo slideshow are available. The three-story property combines six studio layouts and two one-bedroom layouts, with a mix of private and shared bathrooms. Unit interiors range from approximately 200 to 570 square feet. The building totals approximately 5, 494 square feet, including 1, 410 square feet of unfinished basement; approximately 4, 084 square feet are above grade. Set on an approximately 5, 000-square-foot lot with established landscaping, the property includes a detached one-car garage, driveway parking, shared laundry, basement storage units and common areas. Limited-access entry and a fire sprinkler system are additional features. Public water and sewer serve the property. The property has been operated with furnished B&B/Airbnb stays and longer-term rentals. The stabilized apartment pro forma projects $9, 600 in monthly base rent plus $460 in monthly utility contributions. Annual gross potential income is $124, 720, including $4, 000 in projected parking, pet and net paid-laundry income. After a $6, 036 vacancy/collection allowance and $50, 869.72 in operating expenses, projected annual NOI is $67, 814.28, a 7.33% pro forma cap rate at the $925, 000 asking price. This assumes all eight units are available for rental, including currently manager-occupied Units 5 and 5A. Laundry is currently free. Detailed unit, income and expense information is available upon request. The building is identified as contributing to the Irvington Historic District.

Details

Updated on October 19, 2026 at 11:24 pm
  • MLS# 364546423
  • Price $925,000
  • Property Size 5494 Sqft
  • Land Area 0.11 Acres
  • Car Garage 1.0
  • Garage Size x x
  • Year Built 1910
  • Property Type MultiFamily
  • Property Status Active
  • Office Name Roffman Real Estate Investments, LLC
  • Agent Name Cole Roffman
  • Office Phone 971-506-0502

Additional details

  • Listing Terms Call Listing Agent, Cash, Conventional, Rehab
  • Roof Composition
  • Sewer Public Sewer
  • Cooling Exhaust Fan
  • Heating Forced Air
  • County Multnomah
  • Property Type MultiFamily
  • Parking Driveway, Garage
  • Elementary School Irvington
  • Middle School Harriet Tubman
  • High School Jefferson
  • Community Features All Landscaping, Commons, Laundry

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