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

Ever dreamed of becoming a landlord and starting to build your real estate investment portfolio? Or maybe you already are and want to add to your existing properties. Either way, Portland has plenty of multi-family homes for sale worth a look, and we have the full map of all Portland homes for sale. While there’s a lot to learn about owning rental properties, there’s also a lot of information out there to keep you abreast of Portland landlord laws and rules.

We wanted to see what’s available this week in the realm of rental property, and we found these five multi-family homes for sale under $200K per unit. To find them, we first did a general “Portland, OR” search, then refined it by selecting “Multi-Family,” and chose the “Best Price Per Unit” filter.

Check these properties out and see one is for you.

1. 4911 SW Beaverton Hillsdale Hwy

Don’t miss the opportunity to purchase this cash-flowing triplex in desirable Raleigh Hills neighborhood! All three units have had updates completed throughout, each one comprised of two bedrooms and one bath upstairs, with the living room, kitchen, and back deck on the lower level. One unit just became vacant and could make for a great owner occupant investment. Each unit gets two parking spots. All tenants are current.

2. 320 NE 61st Ave

Come check out this multi-family investment property in the heart of North Tabor! Enjoy a large lot perched above the neighborhood offering beautiful views of the city. Excellent upside is available on rents, with all currently under market. Take advantage of this low price, hot market, and sought-after neighborhood, along with easy access to the freeway, Providence Medical, Multnomah University, and NE Portland’s amazing parks, shops, and restaurants.

3. 1815 NW Hoyt St

This four-plex has great upside potential for the creative buyer! The property has below market rents, no utility bill-back program, and an 11 GRM in a market that normally asks for 15+ GRM. Located in desirable NW Nob Hill, the units are 100% occupied, with many having updated kitchens and baths. The unit mix includes studio, 1-bed/1-bath, and 2-bed/1-bath. Electric and water heaters are individually metered. All units have electric heat and access to the onsite laundry facility. This one can be sold with its sister property at 607-611 NW 18th Avenue for $2M.

4. 3411 SW US Veterans Hospital Rd

The property, located adjacent to Oregon Health Sciences University (OHSU), consists of four studio units and a single one-bedroom unit, none of which have undergone significant updates, providing an immediate value-add opportunity. Current rents are below market rates in this desirable area with strong housing demand from OHSU employees and students.

5. 1827 SW Cable Ave

This well-located six-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 do some renovation to push rents even higher.

Ready to Find the Ideal Multi-Family Property in Portland?

Our top 1% buyer’s team has 19 years of real estate experience in the Portland metro area. Whether it’s one of the properties listed here, some other property you have in mind, or one that we find for you, we can help you through your investment property journey. Get in touch with us today by calling 503-773-0000 or chatting with the bot on our site, and we’ll put our client-first approach to work for you!

Written by Stephen FitzMaurice
Published on July 21, 2022