3246 115th Ave - Multi-Family FOR SALE


Portland, OR 97266- Powellhurst-Gilbert
$5,838,900 USD
503-709-4632
3246 115th Ave, Portland, OR for Sale
$5,838,900 USD
Multi-Family - FOR SALE
1/16
null | Request Cap Rate

3246 115th Ave
Portland, OR 97266
Powellhurst-Gilbert


OVERVIEW

Rare chance to acquire a fully completed 17-unit cottage cluster at 3246 SE 115th Ave in Portland’s Powellhurst-Gilbert neighborhood. This detached home community offers immediate income potential, low maintenance, and long-term appreciation—ideal for any investor portfolio. Each home is individually metered with no shared walls, providing privacy and strong rental appeal. Heating and cooling are provided by energy-efficient mini-splits, offering year-round comfort for tenants. Modern construction reduces operating costs, and the site includes five off-street parking spaces, private patios, and layouts suited for tenants at all stages of life. The location offers excellent renter convenience with nearby amenities including Fubonn Shopping Center, the Jade District, and restaurants like So Kong Dong Korean BBQ and Tik Tok Restaurant & Bar. Starbucks and local cafés are close by, and outdoor recreation is accessible via Raymond Park, Gilbert Heights Park, and Powell Butte Nature Park. Rental income is estimated based on local comps. Buyer to perform their own due diligence to verify financials and projections. With full site control and no HOA complications, this is a turnkey, low-maintenance asset in a high-demand SE Portland location—where middle housing of this scale is increasingly rare under current zoning.

FOR SALE DETAILS

PRICE

$5,838,900 USD

PRICE/SF

$383 USD /SF

# OF UNITS

17

PRICE/UNIT

$343,465

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2025

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

R5

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Darryl Bodle IIKeller Williams CommercialMore Info
503-709-4632

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

Darryl Bodle IIKeller Williams CommercialMore Info
503-709-4632

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