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Tim Penner

MORE Realty

concierge@pennergroupproperties.com +1(971) 777-3137

Listed by Keller Williams Realty Portland Premiere • 503-709-4632

$7,380,900

Est. payment - /mo

22,556 SqFt

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Open House

Sat Apr 18, 10:00am - 12:00pm

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Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 22,556 sqft

Price per Sqft $327

Subdivision Rose City Park

MLS Listing ID 732050211

Year Built 2026

Tax Year 2026

Lot Size 0.580 Acres

Property Description

Rare opportunity to acquire a newly constructed 16-unit multifamily development in NE Portland, delivered as a cohesive, high-quality rental community with a diversified unit mix and phased completion. The portfolio includes two attached fourplex buildings totaling eight townhouse-style residences and an eight-home detached cottage cluster, offering a rare blend of density, privacy, and long-term durability. The unit mix is renter-driven, featuring two and three bedroom residences with two and a half bathrooms throughout, efficient layouts, and strong separation between living and sleeping areas. Each bedroom includes crown molding with integrated built-in lighting, while main living levels feature built-in elements that add architectural interest and durability beyond typical rental construction. Detached cottages command a rental premium due to increased spacing between homes and enhanced landscaping, while attached townhomes offer private entries, fenced outdoor spaces, and end-unit configurations that support tenant retention. One fourplex on NE Stanton is fully completed, vacant, and move-in ready, providing immediate lease-up or income potential, while the remaining fourplex and cottage homes are under construction, allowing a buyer to step into a partially stabilized asset with a clear path to full completion. All residences are built with modern, energy-efficient systems including high-performance windows, efficient heat pump heating and cooling, energy-efficient water heating, and whole-house ERV ventilation to reduce operating costs and future capital exposure. Street parking only aligns with neighborhood norms while lowering maintenance obligations. This portfolio outperforms typical townhome rentals through its detached cottage premium, superior interior detailing, private outdoor spaces, and new construction efficiency, supporting stronger rents and long-term asset resilience.

Location

State OR

County Multnomah

Area _142

Zoning R2.5

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

Sewer Public Sewer

Water Public Water

Level or Stories 2

Schools

Elementary Schools Rose City Park

Middle Schools Roseway Heights

High Schools Leodis Mcdaniel

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Virtual Tour https://www.youtube.com/watch?v=EF1cKBJXoJY

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Regional Multiple Listing Service (RMLS)

NEARBY SCHOOL & BUSINESS

+1(971) 777-3137

concierge@pennergroupproperties.com

9792 SW Nimbus Ave, Beaverton, OR, 97008, USA

2833 NE 62nd AVE Portland, OR 97213