ecoFlats 3947-3951 N Williams Ave 18 Unit Apartment Building $5,150,000 ($286,111/Unit) 5.60% Cap Rate Portland, OR 97227

EcoFlats (3947–3951 N Williams Ave) is a premier mixed-use asset built for long-term value and stable cash flow. Located in Portland’s established North Williams corridor, the property features 18 apartment units over 3,657 square feet of commercial retail on an 11,800-square-foot EXD-zoned lot.
Unlike standard properties vulnerable to market spikes, EcoFlats was designed to protect the owner from the biggest threat to rental income: rising utility costs. Operating at 65% higher energy efficiency than traditional buildings, it features a 21-kW solar array and open-air common areas that eliminate shared HVAC overhead entirely.
The ground floor is 100% leased to stable local brands on NNN/CAM leases through mid-2028, securing a predictable revenue base. Additionally, a pre-stubbed rear footprint allows for 12 more units without expensive city hookup fees.
INVESTMENT HIGHLIGHTS
Lower Operating Costs & Higher Profit:
A 21-kW solar array, thermal trellis, and advanced water-heating system keep utility bills low. Open-air hallways eliminate heating and cooling costs for common areas, slashing monthly overhead and protecting your bottom line.
Reliable Commercial Income:
The ground floor is 100% leased through mid-2028 to stable local favorites, Migration Brewing and Bigtime Tattoo. Triple-net (NNN/CAM) leases ensure tenants cover expenses, providing steady cash flow independent of apartment market cycles.

Easy Room to Grow:
Zoning allows for 12 additional units on the rear 50x50 lot. Utility lines are already run to the site, allowing a buyer to skip expensive city hookup fees (SDCs) and plug straight into the existing solar and boiler systems.
WHY THIS ASSET? WHY NOW?
Today’s market isn't about relying on speculative rent spikes—it is about controlling costs and securing reliable cash flow. EcoFlats delivers both.
The property features a balanced, mixed-use mix of 18 apartment units and 2 ground-floor commercial spaces. With the commercial tenants locked into fixed leases plus CAM reimbursements, you get a stabilized, predictable revenue base that protects the asset regardless of apartment market cycles.
Furthermore, the green design isn't a marketing gimmick; it directly protects your bottom line against rising utility rates. Combined with open-air common areas, you bypass traditional HVAC overhead entirely. Finally, with zoning for 12 more units and utilities already run to the rear lot, you can expand whenever you are ready, skipping expensive city hookup fees.