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

Looking for another property to add to your investment portfolio? Or thinking of investing in a rental property for the first time? Either way, with interest rates on the rise, now is a great time to follow through and see what Portland has to offer in the way of multi-family real estate. We have the full map of Portland homes for sale.

Also, whether you’re new to renting properties or you’ve been a landlord for a while, it’s always good to stay on top of recent Portland rental laws.

We checked the listings in SE Portland and found these 5 multi-family properties for sale under $200K/unit. To find them, we selected “Multi-Family” and “Best Price Per Unit.” If you want to get even more specific, you can select “Multi-Family Unit Count” from the Filters tab and set your number. To get regular email reminders about new properties with the parameters you’ve set, simply click the bell icon in the top left corner.

Which one of these properties will be your next?

1. 9803 SE Henry St

Take advantage of this great opportunity to own a well-maintained and professionally managed triplex in the heart of Lents. This property is in a great location with many new restaurants and shops along the nearby Foster corridor. A new roof was installed in 2018 and new hot waters in each unit in 2021. The units also have newer appliances. R2 zoning offers development possibilities, but check with the City to clarify. With a long rental history and close proximity to the bus line and I-205, this one is a great find. Please do not walk the property or disturb tenants.

2. 14000 SE Rhine St

This unique property is like a tiny farm with two houses, a large private backyard, and a long, gated driveway. You get two homes for one price on a .33 acre lot! There’s a 3+1-bedroom home with 1+1-bedroom home all on one level. The main home has a new kitchen, bath, roof, mini-splits, laminate flooring, and triple pane vinyl windows. Outside, there are covered and uncovered decks and a shed with insulation and electricity. The property is landscaped and has a vegetable garden, RV parking and hook up, and tons of parking. These two sweet homes have so much to offer all on an R-7 lot. Hurry!

3. 12025 SE Market St

The price on this property has lowered by $29K, and it’s a great opportunity for investment or owner occupied in one unit. The spacious fenced yard has lots of room for entertaining, and there’s plenty of parking on the .26-acre lot in a great location near restaurants, shops, and transportation. With all units currently rented, there’s also the possibility of building a fourth unit. Come view this large triplex today!

4. 12429 SE Foster Rd

Here’s another great opportunity with this 8-plex on a half-acre lot with room to grow. It’s low maintenance with a newer roof, windows, and siding. Units have been remodeled and there’s an on-site coin-op laundry. The property is in a convenient location on the bus line and close to the Max. Check with the City of Portland about adding additional units. There’s also upside rent potential, as some units are below market value. Come see this very nice property to add to your portfolio.

5. 8104 SE Raymond St

This turnkey apartment complex located in the Foster-Powell neighborhood is a stabilized asset with upside in rents. Significant capital has been invested into renovation of the units and the building’s exterior. Weighted-average in-place rents are 10% below market, affording the investor near-term value-add upside on an asset with all the heavy lifting completed. These sixteen units in two buildings are conveniently located with a great walk score.

Looking for a Multi-Family Real Estate Investment Property?

If you’re interested in seeing any of these properties or others throughout the Portland metro area, we’ll be happy to show you around. With our 18 years of experience and our client-first approach, our top 1% buyer’s agents can help you navigate your investment property purchase with ease. Chat with the bot on our site or call us at 503-773-0000. We look forward to hearing from you soon!