Cedar Lee Apartments is a well-maintained 6-unit community built in 1966 and located in Portland’s vibrant South Tabor neighborhood. Nestled just off SE Powell Blvd, the property benefits from a walkable residential setting with easy access to local restaurants, retail, and public transit connections. The surrounding area has experienced steady renter demand, fueled by Portland’s affordability relative to homeownership and its strong employment base. With average in-place rents of $1,058 per unit, Cedar Lee presents a clear value-add opportunity. Thoughtful interior updates and modest capital improvements can further enhance appeal, while repositioning rents closer to market levels. Residents already enjoy spacious one- and two-bedroom layouts averaging 733 square feet—an attractive feature in a submarket where renters increasingly prioritize larger floor plans. This stable, fully occupied asset offers investors reliable income today with meaningful upside potential through rent growth and property upgrades.