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Powell Heights & Powell Place Apartments 3254 SE 90th Pl 29 Unit Apartment Building $5,995,000 ($206,724/Unit) 6.20% Cap Rate Portland, OR 97266
INVESTMENT HIGHLIGHTS
- Powell Heights - 2025 New Construction (21 units)
- Fully stabilized 29-unit portfolio in Southeast Portland
- Prime walkable location near schools, shopping, dining, parks, and transit
- Powell Place - Fully Renovated (8 units)
- Modern high-end finishes with in-unit washer & dryers in all units
- Shared off-street parking lot offering operational efficiency and low-density appeal
EXECUTIVE SUMMARY
Powell Heights & Powell Place Apartments are a 29-unit, fully stabilized multifamily investment comprised of two adjacent properties in a highly desirable Southeast Portland neighborhood. The portfolio includes Powell Heights (21 units) and Powell Place (8 units), together offering a rare opportunity to acquire scale with operational efficiency in a low-density setting.
Situated on nearly one acre and sharing a common parking lot, the properties benefit from strong tenant appeal, efficient management, and a serene residential environment. The portfolio features a diverse mix of studio, one-bedroom, and two-bedroom apartments, supporting consistent demand and strong rental performance.
Powell Heights, representing 72% of the units, is brand-new construction (2025), while Powell Place, a 1973 vintage asset, has been fully renovated and has demonstrated a proven track record of achieving top-of-market rents. Together, the assets deliver a compelling blend of modern new-construction product and a renovated, lower-density vintage community – the combination of both provides the ability to offer parking, storage, and larger unit sizes—a truly unique offering for new construction - creating a best-in-class living experience that is truly unique in the neighborhood.
Situated on nearly one acre and sharing a common parking lot, the properties benefit from strong tenant appeal, efficient management, and a serene residential environment. The portfolio features a diverse mix of studio, one-bedroom, and two-bedroom apartments, supporting consistent demand and strong rental performance.
Powell Heights, representing 72% of the units, is brand-new construction (2025), while Powell Place, a 1973 vintage asset, has been fully renovated and has demonstrated a proven track record of achieving top-of-market rents. Together, the assets deliver a compelling blend of modern new-construction product and a renovated, lower-density vintage community – the combination of both provides the ability to offer parking, storage, and larger unit sizes—a truly unique offering for new construction - creating a best-in-class living experience that is truly unique in the neighborhood.
PROPERTY FACTS
| Price | $5,995,000 | Property Subtype | Apartment |
| Price Per Unit | $206,724 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 6.20% | Lot Size | 0.79 AC |
| Sale Condition | Bulk/Portfolio Sale | Building Size | 17,350 SF |
| No. Units | 29 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2025 |
| Zoning | R1 | ||
| Price | $5,995,000 |
| Price Per Unit | $206,724 |
| Sale Type | Investment |
| Cap Rate | 6.20% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 29 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.79 AC |
| Building Size | 17,350 SF |
| No. Stories | 3 |
| Year Built | 2025 |
| Zoning | R1 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Fireplace
- Storage Space
- Washer/Dryer
- Kitchen
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
- Yard
- Patio
- Quartz Countertops
SITE AMENITIES
- Courtyard
- Bicycle Storage
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 12 | $1,270 | 450 - 500 |
| 1+1 | 9 | $1,442 | 550 - 600 |
| 2+1 | 8 | $1,757 | 800 - 850 |
Walk Score®
Very Walkable (81)
Bike Score®
Very Bikeable (84)
PROPERTY TAXES
| Parcel Number | R244995 | Improvements Assessment | $0 |
| Land Assessment | $210,430 | Total Assessment | $210,430 |
PROPERTY TAXES
Parcel Number
R244995
Land Assessment
$210,430
Improvements Assessment
$0
Total Assessment
$210,430
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Powell Heights & Powell Place Apartments | 3254 SE 90th Pl
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