607 NE Randall Ave - 601-607 NE Randall Ave 4 Unit Apartment Building Offered at $850,000 at a 4.48% Cap Rate Portland, OR 97232

HFO is pleased to present 601–607 NE Randall Avenue, a well-maintained four-unit apartment community located in Portland's highly sought-after Kerns neighborhood. The property offers investors immediate organic income growth through below-market rents that can be increased through natural tenant turnover without requiring capital improvements. Each oversized one-bedroom apartment spans approximately 1,015 square feet and includes an in-unit washer and dryer, providing a spacious living experience that competes with many two-bedroom units while supporting strong resident retention. Additional upside exists through the opportunity to monetize currently unused basement storage as ancillary income. Positioned in one of Portland's most walkable inner eastside neighborhoods, the property offers convenient access to acclaimed dining, everyday amenities, major employers including Providence Portland Medical Center, and excellent regional connectivity via MAX Light Rail and TriMet, making it an attractive long-term investment in a highly desirable urban location.