3540 SE 119th Ave - Apartments FOR SALE


Portland, OR 97266- Powellhurst-Gilbert
$1,110,000 USD
503-351-0146
3540 SE 119th Ave, Portland, OR for Sale
$1,110,000 USD
Apartments - FOR SALE
1/11
null | 7.02% Cap Rate

3540 SE 119th Ave
Portland, OR 97266
Powellhurst-Gilbert


HIGHLIGHTS

  • MODERN TOWNHOME OFFERING - 2006-Built Six-Unit Townhome Asset Located in Southeast Portland’s Powellhurst-Gilbert
  • MARK-TO-MARKET UPSIDE - In-Place Rents Approximately Six Percent Below Market with Immediate Income Growth Potential
  • FINISH UPGRADE PROGRAM - Convert to Stainless Steel Appliances and Add Higher-Grade Finishes to Drive Rent
  • RECENT CONSTRUCTION APPEAL - 2006 Vintage Enhances Tenant Demand and Helps Limit Near-Term Capital Replacement Needs
  • DUPLEX-STYLE LAYOUTS - Paired Townhomes Reduce Shared Walls and Support Privacy-Focused Resident Preference
  • INDIVIDUALLY METERED - Individual Water Meters (Currently Landlord Pays All)

OVERVIEW

The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of Duplexes on 119th, a six unit townhouse style multifamily property located at 3540 SE 119th Avenue in Portland, Oregon. Constructed in 2006, the property features a desirable and consistent unit mix comprised entirely of two bedroom, one and a half bath townhome layouts. This newer vintage remains attractive to both residents and investors, as modern building systems and materials can reduce near term capital needs relative to older Portland housing stock, supporting more predictable ownership. The property benefits from enduring renter demand for privacy, separation, and a residential living experience. Duplexes on 119th is configured with paired townhome layouts that limit shared walls compared to stacked apartment product, creating a more home like environment. Private exterior entrances and a low density site plan further support tenant satisfaction and retention while minimizing common area maintenance. Each unit features a functional two level layout that separates living and sleeping areas, in unit washer dryer hookups, and a design profile that continues to perform well in the Southeast Portland rental market. The property also offers dedicated on site storage, a meaningful amenity for townhome renters seeking additional space. From an investment standpoint, the asset offers a clear value add opportunity. In place rents are approximately six percent below market, providing immediate upside through mark to market adjustments. Additional rent growth can be achieved through targeted interior upgrades such as luxury vinyl plank flooring and updated finishes. Located in Southeast Portland’s Powellhurst Gilbert area, the property provides convenient access to transportation corridors, neighborhood retail, and daily services, supporting stable and long term tenant demand.

FOR SALE DETAILS

PRICE

$1,110,000 USD

PRICE/SF

$206 USD /SF

# OF UNITS

6

PRICE/UNIT

$185,000

CAP RATE

7.02%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Duplexes on 119th

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2006

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

R1

APN/PARCEL ID

R278076

ASK ABOUT THIS PROPERTY

Whitney RhoadesMarcus & MillichapMore Info
503-351-0146

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

Whitney RhoadesMarcus & MillichapMore Info
503-351-0146

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