5 Multi-Family Portland Properties for Sale Under $200K a Unit

Now is a good time to seriously think about your next—or first—investment property to diversify or begin your portfolio. Real estate prices are on the rise and can be a great hedge against inflation. Portland has several multifamily properties on the market right now, and we have the full map of all Portland homes for sale.

We explored the market this week and found these 5 multi-family properties for sale under $200 per unit. To find them, we simply selected “Multi-Family” and “Best Price per Unit.”

Check them out and see which one best fits your needs!

1. 2322 SE 121st Ave

This updated duplex on an oversized .18-acre lot in SE Portland has two 2-bedroom / 1-bath units. Both have been updated on the interior and have consistent tenant history. RM2 zoning allows for medium density residential and has the potential for building additional units in the large back yards. Buyer to do own due diligence. Can be sold as portfolio with RMLS#22143336.

2. 1718 NE 125th Ave

Here’s a great opportunity for a value-add duplex with long-term tenants on month-to-month leases. Make an offer subject to interior inspection. Expenses are estimates. Owner-occupied offers cannot be considered.

3. 6850 NE Emerson St

This is an excellent income-producing property with a terrific CAP rate (7.73%). The four units consist of a large 3-bedroom / 2-bath detached house, a charming 2-bedroom / 1-bath detached house, a large mechanic shop plus a studio inside grandfathered for use, and a 2-car detached garage rented separately. All units are currently rented.

4. 1827 SW Cable Ave

This well-located 6-plex in Goose Hollow consists of two studios, two 1-bedroom, and two 2-bedroom apartments. The building has improvements including all new plumbing and all new rear decking. Tenants enjoy easy access to Goose Hollow and downtown Portland shopping and restaurants. The current market allows for investors to improve rents by keeping units as-is or to do some renovation to push rents even higher.

5. 12429 SE Foster Rd

This 8-plex on a half acre is a great opportunity with room to grow. The property is low-maintenance with a newer roof, windows, and siding. All units have been remodeled. Check with the City of Portland about adding additional units. This is an upside rental, as some units are below market value. There’s an on-site coin-op laundry, and the property is on the bus line, close to the Max. This is a very nice property to add to your portfolio!

Looking for a Multi-Plex to Add to Your Portfolio?

We can help! Get in touch with our top 1% Portland buyer’s team, and we’ll discuss these and any other properties you have an interest in. We’ve been working the real estate market in the Portland metro area for 18 years, helping home buyers and investors make great decisions. Call us direct at 503-773-0000 or chat with the bot on our site!

Written by Stephen FitzMaurice
Published on March 17, 2022