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Listed by Keller Williams Realty Portland Premiere • 503-709-4632
$5,519,900
Est. payment /mo
14,018 SqFt
Price Dropped by $380K
3246 SE 115th AVE Portland, OR 97266
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 14,018 sqft
Price per Sqft $393
Subdivision Powellhurst-Gilbert
MLS Listing ID 543081098
Year Built 2025
Tax Year 2025
Lot Size 0.900 Acres
Property Description
Rare opportunity to acquire a fully completed 15 unit cottage cluster at 3246 SE 115th Ave in Portland's Powellhurst Gilbert neighborhood, purpose built for long term rental performance. Built by a multi year Street of Dreams builder and Builder of the Year award winner by the Home Building Association, this detached home community offers immediate income potential, low ongoing maintenance, and strong appreciation fundamentals, making it a compelling addition to any portfolio. The unit mix includes 2 bedroom, 2.1 bathroom and 3 bedroom, 2.1 bathroom homes ranging from 894 to 970 sqft. Each home is individually metered with no shared walls, enhancing tenant privacy and allowing clean utility pass throughs. Energy efficient mini splits provide heating and cooling in every unit, helping control operating costs while supporting tenant comfort and retention. Modern construction and systems help reduce near term capital expenditure needs compared to older vintage multifamily assets. Site features include five off street parking spaces, private patios, and layouts designed for strong rental appeal. 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 and stable rental demand. 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 Heat Pump, Mini Split
Exterior
View Trees Woods
Roof Type Composition
Garage No
Building
Lot Description Level
Story 2
Foundation Concrete Perimeter, Stem Wall
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, VALoan
Listing Terms Cash, Conventional, VALoan
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