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Steve Biley

stevebileyrealtor@gmail.com +1(515) 681-6427

Listed by Keller Williams Realty Portland Premiere • 503-709-4632

$ 1,899,000

Est. payment | -/mo

7 Beds

5 Baths

4,416 SqFt

Save

$ 1,899,000

Est. payment | -/mo

Save

7 Beds

5 Baths

4,416 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,416 sqft

Price per Sqft $430

Subdivision Cathedral Park

MLS Listing ID 22390670

Bedrooms 7

Year Built 2022

Annual Tax Amount $16,511

Tax Year 2025

Lot Size 4,791 Sqft

Property Description

Fully leased, income-producing 7-unit multifamily asset in North Portland, well suited for a 1031 exchange buyer seeking stable cash flow, diversified unit mix, and modern construction in a single acquisition. The property includes six newer-construction condominium residences plus a detached single-family home, offering multiple income streams and reduced operational concentration risk. The newer units feature efficient, renter-driven open-concept layouts with contemporary finishes, solid surface countertops, modern cabinetry, and neutral design selections that support strong leasing performance and long-term tenant retention. Unit mix ranges from studio to three-bedroom residences, allowing exposure to a broad tenant base and resilience across market cycles. The detached two-bedroom home includes a basement providing substantial storage and functional flexibility, enhancing tenant usability and operational convenience. The property is fully occupied, allowing an investor to step directly into stabilized income with no lease-up exposure. Located near the Cathedral Park neighborhood, one of North Portland's most recognizable and tenant-favored areas, known for its riverfront setting beneath the iconic St. Johns Bridge, expansive green space, community events, and strong neighborhood identity that consistently drives rental demand. The location offers approximately 1.5 miles to Cathedral Park itself, under 1 mile to Pier Park and Columbia Park, and convenient access to dining, neighborhood retail, and services along N Lombard Street within roughly 0.75 miles. A 94 Bike Score and 91 Walk Score, nearby transit options, and proximity to employment centers and outdoor amenities further support long-term tenant appeal and durable rental performance. A rare opportunity to acquire a turnkey, stabilized multifamily investment combining modern construction, diversified income, and one of North Portland's most sought-after neighborhood settings in a single cohesive package.

Location

State OR

County Multnomah

Area _141

Zoning RM2

Interior

Heating Zoned

Cooling Other

Exterior

Roof Type Composition

Garage No

Building

Lot Description Corner Lot

Story 3

Sewer Public Sewer

Water Public Water

Level or Stories 3

Schools

Elementary Schools James John

Middle Schools George

High Schools Roosevelt

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Regional Multiple Listing Service (RMLS)

Schools and Properties Nearby

Find out why customers are choosing LPT Realty to meet their real estate needs

+1(515) 681-6427

stevebileyrealtor@gmail.com

12345 University Ave, Clive, IA 50325, USA

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7206 N SAINT LOUIS AVE Portland, OR 97203