717-735 SE Morrison St
Portland, OR 97214
East Morrison Apartments · Multifamily Property For Sale · 17 Units

East Morrison Apartments is a mixed-use building located in the desirable Buckman neighborhood of close-in southeast Portland. This asset is comprised of 17 apartments, 4 storefront retail spaces and a full warehouse basement with a daylight mezzanine at ground-level. Built in 1928, by the iconic architects Bennes & Herzog, it once was host to Hastorf-Lord Plumbing Co., and the Golden Parrot Food Shoppe. The asset’s irreplaceable location is surrounded by ample local amenities, small boutique shops, grocers, dog parks, music venues, wine bars and restaurants. Tenants benefit from East Morrison Apartments accessibility throughout the neighborhood, with a Walk Score of 92 and a Bike Score of 95, it’s considered to be a walker and biker paradise; public transportation is also nearby with the Tri Met Rail & Street Car systems conveniently located on SE Grand and MLK, along with numerous bus stops on SE Grand & SE Belmont. East Morrison Apartments is a unique “value-add” opportunity with substantial upside in the current apartment rents, commercial leases upon turnover, and the ability to improve the mezzanine and basement for additional income. Recent capital improvements include new HVAC systems for retail spaces 727 and 729 in 2016, refurbished fire escapes in 2018, installation of a new natural gas boiler for the apartments in 2018.