8212 N Denver Ave - Apartments FOR SALE


Portland, OR 97217- Kenton
$3,500,000 USD
310-422-6044
8212 N Denver Ave, Portland, OR for Sale
$3,500,000 USD
Apartments - FOR SALE
1/27
null | 6.2% Cap Rate

8212 N Denver Ave
Portland, OR 97217
Kenton


HIGHLIGHTS

  • Heavy Foot & Car Traffic
  • Bustling Area
  • Nice Finishes Throughout

OVERVIEW

Welcome to 8212 N Denver Ave, presenting a fantastic investment opportunity in the vibrant Kenton neighborhood of North Portland! This well-positioned property has been extensively remodeled and upgraded following the current owners' acquisition in 2018 from top to bottom, and now offers a versatile combination of retail and residential units with strong income potential and modern appeal. The main level features three fully-leased commercial spaces, currently occupied by a diverse mix of tenants: a neighborhood-favorite restaurant, an established salon, and a local record shop. These mostly street-facing storefronts benefit from high visibility and steady foot traffic along N Denver Ave, making this a desirable hub for retail and service-oriented businesses. Retail spaces are individually metered. Upstairs, the second floor houses 11 residential units designed to meet the evolving needs of urban dwellers. The unit mix includes (2) one-bedroom apartments, each equipped with full bathrooms and efficient kitchenettes—ideal for tenants seeking a bit more space and privacy. The remaining 9 units are thoughtfully designed micro units comprised of 1 double sized micro unit with in-unit kitchenette including cabinets, shelving, sinks and mini fridges, 7 standard micro units also with in-unit kitchenettes, cabinets, shelving, sinks, and mini fridges offering just enough function for light meal prep while maintaining a minimalist lifestyle. The 9th micro unit is designed as a pure sleeping/living space and does not have a kitchenette, offering an affordable and streamlined living solution. Tenants benefit from an impressive array of shared amenities that elevate the overall living experience. A spacious common kitchen with dining space encourages community interaction, while the enclosed grilling area—complete with built-in barbecue, seating, and a gas fire pit—serves as a welcoming retreat for entertaining or relaxation. Additional shared features include a washer/dryer closet, two powder rooms, and two dedicated shower rooms, all designed and maintained for resident convenience. A rear deck provides yet another comfortable gathering spot, offering elevated views and additional seating in a tranquil setting. The building also includes a large basement, mostly open and flexible in its use. Currently, it houses three secured storage units, with ample room to construct additional units or repurpose the space for added functionality or additional income. Whether you're an investor seeking turnkey income or an owner-user looking for a dynamic live/work option, this property offers exceptional flexibility and potential. Located in a walkable, bike-friendly area with easy access to public transit, parks, and local businesses, 8212 N Denver Ave stands as a solid investment in one of Portland’s most desirable up-and-coming corridors. Whether you're looking to continue utilizing the building as-is to capitalize on the strong rental market, or envision repurposing the second floor of the building for other uses, this building checks all the boxes and represents a great value in a fun, trendy and highly coveted neighborhood.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$248 USD /SF

# OF UNITS

14

PRICE/UNIT

$250,000

CAP RATE

6.2%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

8212 N Denver Ave

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.03 AC

LAND SF

1,124 SF

ZONING

CM2

APN/PARCEL ID

R196180

ASK ABOUT THIS PROPERTY

Evan NelsoneXp Realty, LLCMore Info
310-422-6044

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Evan NelsoneXp Realty, LLCMore Info
310-422-6044

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