2626 Ne 16TH Ave, Portland, OR 97212

• 5,494 sqft

Property 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.

Listing Status:

Active

Date Added:

October 6, 2026

Data Last Updated:

October 20, 2026 at 12:41PM

Listing Office:

Roffman Real Estate Investments, LLC : 971-506-0502

Listing Agent:

Cole Roffman : 971-506-0502

MLS ID:

364546423

Interior

• Basement: Full basementUnfinished
• A/C: Exhaust fan
• Heating: Forced air

Exterior

• General: Lap sidingVinyl siding
• Parking: DrivewayGarage

Construction

• Roofing: Composition
• General: Concrete perimeter

Location

• Road/Access: Paved
• Golf: All landscapingCommonsLaundry
• Originating MLS: Regional Multiple Listing ServiceInc.
• County: Multnomah

Lot

• Zoning: R5IRVINGTONBLOCK 52LOT 18R188379

Utilities

• Water: Public water
• Sewer: Public sewer

Financial

• Source: Regional Multiple Listing ServiceInc.