2219 - 2231 SE 66th Ave Portland, OR 97215
24-unit multifamily property with long-term tenant in South Tabor.
Type:Multifamily
Property size:
19,800 SF- Added:
- Nov 25, 2025
- Days on Market:
- 127
- Last Refresh:
- Mar 29 at 8:50 pm
Property Features for 2219 - 2231 SE 66th Ave
General Information
- Standard status
- Active
- Size
- 19,800 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1960
Listing agent Nicholas Diamond License #OR #200403266 (503) 222-2655
Listing office Capacity Commercial Group (503) 222-2655
Listing date Nov 25, 2025
Source Corfac
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Overview
24-Unit Multifamily Investment Opportunity
This 24-unit multifamily property, operating as student housing for Warner Pacific University, is located in the South Tabor neighborhood, steps from Mount Tabor and Warner Pacific University. The property features three buildings totaling 19,800 square feet on a 40,269 square foot lot. The unit mix consists of 2-bedroom, 1-bath apartments. The property is ideally located near the retail corridors of SE Division, Hawthorne, and Belmont. The sale includes an absolute net lease with a 10-year NNN term. The sale price is $4,090,000, which equates to $170,417 per unit, with a CAP Rate of 5.50%. The net operating income for year one is $225,000, with annual rent increases of 3%. This value-add apartment building offers stable, long-term cash flow and a strong credit tenant.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Serviced apartments
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.595
- Latitude
- 45.5068
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 24-unit multifamily property with long-term tenant in South Tabor.
Where is this apartment building located?
The property is located at 2219 - 2231 SE 66th Ave Portland, OR.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: Absolute Net Lease (NNN) with 10‑Year Term provides stable, long‑term cash flow.; Strong Credit Tenant: Leased to Warner Pacific University, operating as student housing.; Attractive 5.50% CAP Rate with a Year 1 NOI of $225,000.
