New Carbon-Neutral Multifamily
16111 E Burnside St, Gresham, OR 97233
32-unit, fully leased, carbon-neutral multifamily property in desirable location.
Type:Multifamily
Property size:
19,551 SFPrice / SF:
$214/SF- Added:
- Dec 2, 2025
- Days on Market:
- 207
- Last Refresh:
- Mar 17 at 1:18 pm
Property Features for 16111 E Burnside St
General Information
- Standard status
- Active
- Size
- 19,551 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2021
Listing office Kidder Mathews Portland
Listing date Dec 2, 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 Kidder Mathews Portland
HighLights
- Carbon‑neutral apartment complex in a desirable, transit‑oriented location directly adjacent to a MAX Light Rail station.
- Fully leased, newly constructed (2021), 32‑unit multifamily community.
- Modern units feature solid wood cabinets, granite countertops, flush mount sinks, and triple‑pane windows; ground‑floor units boast private street access and patios.
- All utilities, including internet, are covered in the rent (average $1,267 per month).
- Energy‑efficient design includes solar panels, thermal heating systems, and water‑saving appliances.
- Amenities include rainwater harvesting, community gardens, onsite parking, and two ground‑floor retail spaces.
Overview
This newly constructed, 32-unit, carbon-neutral multifamily community presents a compelling value-add opportunity in a highly desirable, transit-oriented location. The property is fully leased and stands out as a carbon-neutral apartment complex in the Pacific Northwest. Thoughtfully designed for energy efficiency and long-term affordability, the property features solar panels, thermal heating systems, and water-saving appliances. Units range in size from 313 to 511 square feet and include a mix of studio layouts. Each unit is equipped with modern amenities featuring solid wood cabinets, granite counter tops, flush mount sinks, and triple-pane windows. Ground-floor street-facing units also offer private street access and an outdoor patio space. Rents average $1,267 per month with all utilities, including internet, covered in the rent. Located directly adjacent to a MAX Light Rail station, the property offers residents convenient access to major employment centers throughout the region. Amenities include a rainwater harvesting system, solar-paneled roof, community raised-bed gardens, onsite parking, and two ground-floor retail spaces at the building's entrance. Additionally, the building includes a 1,741 square foot daylight basement space that can serve as an office, or counseling or community space. Positioned along Burnside Street, the property provides excellent visibility and accessibility. It is located just steps from the 162nd Avenue MAX Light Rail Station, providing residents with a quick and convenient transit connection to Downtown Portland, Gresham, and the greater metropolitan area. The property enjoys easy access to nearby thoroughfares.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $441.1k | $22.56 |
| − Vacancy | −$16.8k | −$0.86 |
| EGI | $424.3k | $21.70 |
| − OpEx | −$190.9k | −$9.77 |
| NOI | $233.4k | $11.94 |
19,551 SF · lease $22.56/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.33M
$2.92M – $3.89M
NOI $233,370 @ 7.0% cap · market cap 5.56%
Second Best
Retail
$3.09M
$2.71M – $3.61M
NOI $216,414 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$4.47M
$3.91M – $5.21M
NOI $312,738 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Gresham
- County
- Multnomah
- State
- Oregon
- Longitude
- -122.497
- Latitude
- 45.5135
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 32-unit, fully leased, carbon-neutral multifamily property in desirable location.
Where is this apartment building located?
The property is located at 16111 E Burnside St Gresham, OR.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: Carbon‑neutral apartment complex in a desirable, transit‑oriented location directly adjacent to a MAX Light Rail station.; Fully leased, newly constructed (2021), 32‑unit multifamily community.; Modern units feature solid wood cabinets, granite countertops, flush mount sinks, and triple‑pane windows; ground‑floor units boast private street access and patios.
