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4405 NE 82nd Ave
Portland, OR 97220
Multifamily Property For Sale
·
9 Units
Investment Highlights
- Nine-Unit Property Built in 1977 Featuring a Mix of One- and Two-Bedroom Apartments and a Two-Bedroom Townhouse
- Located in the Roseway/Sumner Area with Convenient Access to Grocers, Retail, Parks, Bike Routes, Transit and Major Highways
- Wood-Frame Construction with Pitched Roofs, Common Laundry, and Off-Street Parking Allows for Straightforward, Low-complexity Operations
- Below-Market Rents Provide a Clear Opportunity for Income Growth Through Rent Optimization and Strategic Renovations
- Classic Interiors: Carpet/Vinyl Flooring, Laminate Counters, Baseboard Heating, and Fireplaces (in Two-Bedroom Units) Primed for Value-Add Improvement
Executive Summary
The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of Roseway Annex, a nine-unit apartment community located at 4405 NE 82nd Avenue in Northeast Portland. Built in 1977 and held by the same ownership for over 35 years, the property features a mix of one-bedroom, two-bedroom, and one townhouse-style unit. Constructed with wood-frame materials, the building includes pitched roofs, aluminum windows, mature landscaping, off-street parking, and shared laundry facilities. Select units include private patios, and the two-bedroom units feature fireplaces. Interior specifications consist of carpet flooring, laminate countertops, dishwashers, and baseboard heating, providing a functional foundation for future improvements.
82nd Avenue Apartments offers a clear path for value creation through targeted renovations and ongoing stabilization efforts. Classic interior finish levels support thoughtful upgrade programs designed to capture stronger rents and improve long-term performance. The property’s manageable nine-unit size and historically consistent occupancy contribute to operational efficiency. With identifiable renovation upside and straightforward management characteristics, the asset is positioned to benefit from both improved unit quality and continued renter demand.
Located within the Roseway/Sumner area, the property provides convenient access to grocery stores, restaurants, coffee shops, and everyday retail, along with nearby parks such as Sacajawea City Park and Glenhaven Park. Transit service along NE 82nd Avenue and close proximity to I-205 and I-84 support strong regional connectivity. The surrounding 5-mile trade area includes a population of 394,433 residents and a median household income of $82,380, with continued growth projected. The neighborhood combines suburban-style residential streets with urban convenience, attracting renters seeking affordability, accessibility, and proximity to major employment centers.
82nd Avenue Apartments offers a clear path for value creation through targeted renovations and ongoing stabilization efforts. Classic interior finish levels support thoughtful upgrade programs designed to capture stronger rents and improve long-term performance. The property’s manageable nine-unit size and historically consistent occupancy contribute to operational efficiency. With identifiable renovation upside and straightforward management characteristics, the asset is positioned to benefit from both improved unit quality and continued renter demand.
Located within the Roseway/Sumner area, the property provides convenient access to grocery stores, restaurants, coffee shops, and everyday retail, along with nearby parks such as Sacajawea City Park and Glenhaven Park. Transit service along NE 82nd Avenue and close proximity to I-205 and I-84 support strong regional connectivity. The surrounding 5-mile trade area includes a population of 394,433 residents and a median household income of $82,380, with continued growth projected. The neighborhood combines suburban-style residential streets with urban convenience, attracting renters seeking affordability, accessibility, and proximity to major employment centers.
Property Facts
| Price Per Unit | $140,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.56% | Lot Size | 0.21 AC |
| Gross Rent Multiplier | 8.36 | Building Size | 8,040 SF |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1977 |
| Property Subtype | Apartment | ||
| Zoning | CM1 | ||
| Price Per Unit | $140,000 |
| Sale Type | Investment |
| Cap Rate | 6.56% |
| Gross Rent Multiplier | 8.36 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 8,040 SF |
| No. Stories | 2 |
| Year Built | 1977 |
| Zoning | CM1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 760 |
| 2+1 | 5 | - | 1,000 |
Property Taxes
| Parcel Number | R220288 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $557,810 |
Property Taxes
Parcel Number
R220288
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$557,810
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