1626 SE Alder St - Apartments FOR SALE


Portland, OR 97214- Buckman
$950,000 USD
503-351-9027
1626 SE Alder St, Portland, OR for Sale
$950,000 USD
Apartments - FOR SALE
1/29
null | 5.82% Cap Rate

1626 SE Alder St
Portland, OR 97214
Buckman


HIGHLIGHTS

  • Prime location in one of Portland’s most walkable and desirable neighborhoods
  • Historic character and architectural appeal that stand out in the rental market
  • Strong rental demand with consistent occupancy in the submarket
  • Additional income from two rentable garages
  • Additional storage spaces provided to tenants
  • Proximity to popular dining, shopping, and entertainment districts on Belmont and Hawthorne

OVERVIEW

Norris & Stevens Inc., as the exclusive listing agent, is pleased to present for purchase this 7-unit multi-family property located at 1626 SE Alder Street, Portland, OR 97214. Built in 1903, the asset is comprised of five 1-bedroom/1-bath units and two studio units. Positioned in a prime pocket of Southeast Portland’s Buckman neighborhood, the property offers immediate access to the Belmont retail corridor as well as the nearby Hawthorne District, Central Eastside, and downtown Portland. The location provides excellent walkability, bike access, and connectivity to major employment and lifestyle hubs, ensuring consistent rental demand. The property also presents a value-add opportunity through unit renovations, common area improvements, and bringing rents in line with market levels. With strong fundamentals, upside potential, and a highly desirable location, 1626 SE Alder represents a rare opportunity to invest in one of Portland’s most active submarkets.

FOR SALE DETAILS

PRICE

$950,000 USD

PRICE/SF

$197 USD /SF

# OF UNITS

7

PRICE/UNIT

$135,714

CAP RATE

5.82%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1903

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

R2.5

APN/PARCEL ID

R114331

ASK ABOUT THIS PROPERTY

Jake HolmanNorris & Stevens, Inc.More Info
503-351-9027

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Jake HolmanNorris & Stevens, Inc.More Info
503-351-9027

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.