Portland Multifamily Investment
12920 SE Powell Blvd, Portland, OR 97236
Call to check price and availability
Well-maintained apartment building in Portland's Powellhurst-Gilbert neighborhood.
Type:Multifamily
Property size:
13,588 SFPrice / SF:
$169/SF- Added:
- Dec 20, 2025
- Days on Market:
- 152
- Last Refresh:
- Mar 17 at 1:18 pm
Property Features for 12920 SE Powell Blvd
General Information
- Standard status
- Active
- Size
- 13,588 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1964
Listing agent Cooper Collins License #OR 201250793
Listing office Macadam Forbes (503) 972-7294
Listing date Dec 20, 2025
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Macadam Forbes
HighLights
- Strong in‑place income and consistent occupancy.
- Most units renovated with washer/dryer hookups, supporting top‑of‑market rents.
- Stabilized expenses due to recent capital improvements.
- Good access to SE Powell Blvd and I‑205.
- Located in Portland's Powellhurst‑Gilbert neighborhood, near parks like Powell Butte.
- Long‑term upside tied to ongoing reinvestment along the Powell corridor.
Overview
This well-maintained property offers a strong in-place income and consistent occupancy. Recent capital improvements have been made to most units, which now feature washer/dryer hookups, supporting top-of-market rents. New ownership will benefit from stabilized expenses following recent years of capital investment. The Heather Lane Apartments are located in Portland’s Powellhurst-Gilbert neighborhood, a primarily residential area in outer Southeast Portland with good access to SE Powell Blvd and I-205. Nearby parks include Powell Butte. The corridor features a mix of retail and multifamily uses, offering strong connectivity and moderate transit access, with long-term upside tied to ongoing reinvestment along the Powell corridor. The property size is 13,588 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.94M
NOI $174,470 @ 9.00% cap · cautious / downside scenario
Moderate
$2.49M
NOI $174,470 @ 7.00% cap · market / base-case scenario
Aggressive
$3.49M
NOI $174,470 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $334.3k | $24.60 |
| − Vacancy | −$17.0k | −$1.25 |
| EGI | $317.2k | $23.35 |
| − OpEx | −$142.7k | −$10.51 |
| NOI | $174.5k | $12.84 |
13,588 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$2.49M
$2.18M – $2.91M
NOI $174,470 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.82M
$3.34M – $4.45M
NOI $267,109 @ 7.0% cap · market cap 11.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.5309814
- Latitude
- 45.4967163
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FAQs
What type of property is this?
Apartment building - Well-maintained apartment building in Portland's Powellhurst-Gilbert neighborhood.
Where is this apartment building located?
The property is located at 12920 SE Powell Blvd Portland, OR.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Strong in‑place income and consistent occupancy.; Most units renovated with washer/dryer hookups, supporting top‑of‑market rents.; Stabilized expenses due to recent capital improvements.
