3548 SE 119th St 11 Unit Apartment Building $1,540,000 ($140,000/Unit) 6.80% Cap Rate Portland, OR 97266

The SE 119th Apartments is an 11-unit multifamily community located at 3548 SE 119th Avenue in Portland's Powellhurst-Gilbert neighborhood. Constructed in 2003, the property is substantially newer than much of the apartment inventory throughout the East Portland market, offering investors a more modern asset with an attractive townhome-style floor plans.
The community consists entirely of spacious two-bedroom, one-bath townhome-style apartment homes averaging approximately 897 square feet. Each unit features functional two-story floorplans, washer & dryer hookups, private patio areas, and ample off-street parking. The larger floorplans and townhome design continue to appeal to residents seeking additional space and a more residential living environment.
Current ownership has completed ongoing maintenance and improvements throughout their ownership, including replacing the roof on one of the two buildings in early 2025. Unit interiors have also been updated as apartments have turned over.
SE 119th Apartments presents investors with the opportunity to acquire a newer vintage apartment community featuring desirable floorplans, stable occupancy, and continued rental upside within one of Portland's more affordable workforce housing submarkets.