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3807-3811 SW Water Ave
Portland, OR 97239
Well-Located SW Portland Apartments w/Upside · Multifamily Property For Sale
·
23 Units
Investment Highlights
- Water Avenue Apartments: 23-unit multifamily complex with strong revenue potential and upside attracting students and young professionals.
- Reliable Investment in a Thriving Market: Well-positioned with untapped income generators in a high-demand market with limited housing supply.
- Strong Demographic Base: 5-mile radius includes 435,000 residents with an average household income of $118,000.
- Prime Location in SW Portland with Accessibility: Strategically located near OHSU, PSU, the Willamette River Waterfront, Downtown Portland, and I-5.
- Consistent Rental Demand: 54% of households in the area are renter-occupied and 75% consist of one- or two-person households.
- Dynamic Portland Lifestyle: Portland has an outstanding quality of life, featuring natural beauty, a diverse economy, and steady job growth.
Property Facts
| Sale Condition | Auction Sale | Lot Size | 0.30 AC |
| Type of Ownership | Fee Simple | Building Size | 9,240 SF |
| No. Units | 23 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1976 |
| Apartment Style | Low-Rise | Parking Ratio | 1.62/1,000 SF |
| Building Class | C | Parcel Number | R129272 |
| Zoning | RM2 - The RM2 zone is a multi-dwelling residential zone that allows a mix of single-dwelling housing types. | ||
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 9,240 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1976 |
| Parking Ratio | 1.62/1,000 SF |
| Zoning | RM2 - The RM2 zone is a multi-dwelling residential zone that allows a mix of single-dwelling housing types. |
| Parcel Number | R129272 |
Amenities
Unit Amenities
- Storage Space
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
- Vinyl Flooring
Site Amenities
- Controlled Access
- Laundry Facilities
- Storage Space
- Maintenance on site
- Public Transportation
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 22 | $1,185 | 385 |
| 2+1 | 1 | $1,440 | 770 |
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