2520 SE Madison St 7 Unit Apartment Building $1,855,000 ($265,000/Unit) 5.33% Cap Rate Portland, OR 97214

2520 SE Madison St is a well-situated 7-unit multifamily asset located in the thriving city of Portland, OR.
Situated on a large 7,577 square foot parcel of land, the subject property was originally built in 1905 and features a gross building area of approximately 3,716 square feet. The property boasts beautifully designed one-bedroom floor plans featuring stainless steel appliances, updated fixtures with modern finishes, and large windows that allow for abundant natural light. Select units also feature heated flooring and in-unit laundry. Additionally, the subject property presents a rare opportunity to acquire a fully renovated historic building featuring significant capital improvements including new plumbing, electrical, and foundation.
2520 SE Madison St offers exceptional walkability and lifestyle amenities in Portland’s vibrant Hawthorne district. The property boasts a Walk Score of 92 and a Bike Score of 93, offering easy access to countless lifestyle amenities including those found on the bustling Belmont and Hawthorne streets. Residents also enjoy a unique mix of independent boutiques, local cafés, bars, and grocery options, while recreational amenities such as Sewallcrest Park lie just blocks away.
The area around SE Madison is well-served by major employers and institutions that support stable tenant demand. Major hubs such as Oregon Health & Science University, Providence Portland Medical Center, and Portland State University, along with creative and tech firms in downtown and the Central Eastside are all within close proximity by bike or transit. Additionally, 2520 SE Madison St offers tenants easy access to major transportation corridors such as Interstate 5, Interstate 84, and Oregon State Route 99E.
The investment appeal of this asset is driven by Portland's strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Portland, 2520 SE Madison St presents an attractive choice for investors due to its convenient tenant amenities and close proximity to countless high-end shopping, dining, and entertainment options.