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Listed by Keller Williams Realty Portland Premiere • 503-709-4632
$ 5,983,900
Est. payment /mo
Active
3246 SE 115th AVE Portland, OR 97266
14,395 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 14,395 sqft
Price per Sqft $415
Subdivision Powellhurst-Gilbert
MLS Listing ID 543081098
Year Built 2025
Lot Size 0.900 Acres
Property Description
Rare opportunity to acquire a fully completed 16-unit cottage cluster at 3246 SE 115th Ave in Portland's Powellhurst-Gilbert neighborhood, purpose-built for long-term rental performance. This detached home community offers immediate income potential, low ongoing maintenance, and strong appreciation fundamentals, making it a compelling addition to any portfolio. Each stand-alone home is individually metered with no shared walls, enhancing privacy and allowing clean utility cost pass-throughs. Energy-efficient mini-splits provide heating and cooling in every unit, helping control operating expenses and support tenant retention. Modern construction and systems reduce near-term capital expenditure needs compared to older vintage stock. Site features include five off-street parking spaces, private patios that boost livability and rentability, and layouts that appeal to a broad tenant base, from singles and couples to small households. Proximity to Fubonn Shopping Center, the Jade District, So Kong Dong Korean BBQ, Tik Tok Restaurant & Bar, Starbucks, local cafés, Raymond Park, Gilbert Heights Park, and Powell Butte Nature Park further supports strong, stable demand. Rental income is estimated based on local comps; buyer to perform due diligence to verify financials, rent projections, and any future assumptions. With full site control, no HOA complications, and middle housing of this scale increasingly rare under current zoning, this is a turnkey, low-maintenance multifamily asset in a high-demand SE Portland location.
Location
State OR
County Multnomah
Area _143
Zoning R5
Rooms
Basement Crawl Space
Interior
Heating Mini Split
Cooling Mini Split
Exterior
View Trees Woods
Roof Type Composition
Garage No
Building
Lot Description Level
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools W Powellhurst
Middle Schools Ron Russell
High Schools David Douglas
Others
Acceptable Financing Cash, Conventional, FHA, VALoan
Listing Terms Cash, Conventional, FHA, VALoan
Virtual Tour https://youtu.be/YusF0uglPRo
