Watergate Apartments 10 SW Porter St 28 Unit Apartment Building $3,700,000 ($132,143/Unit) Portland, OR 97201

Watergate Apartments is a well-maintained 28-unit property located at 10 S Porter Street in Portland, Oregon, offering investors an attractive opportunity to acquire scale at a competitive basis. The property is situated near the South Waterfront district, providing convenient access to OHSU, major transit lines, and key employment centers, while remaining insulated from the higher price points found closer to the riverfront.
The building features an efficient mix of studio and one-bedroom units with historically steady occupancy and strong demand from renters seeking affordability and proximity to downtown. Several units have received updates, and the property offers clear value-add potential through further interior improvements, operational optimization, and strategic repositioning.
Residents benefit from easy freeway access, nearby bus and streetcar connections, and close proximity to essential services and daily conveniences. While the immediate surroundings continue to evolve, the area’s ongoing redevelopment activity provides long-term upside for investors looking to benefit from future neighborhood improvement.
Watergate Apartments offers dependable income, achievable operational gains, and the opportunity to secure a 28-unit asset in an urban location at an attractive entry point.

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