Riverfront Townhomes with
302 North Bridgeton Road Portland, OR 97217
302 North Bridgeton Road, Portland, OR, 97217
$2,247,000
For Sale
$2,247,000
Turnkey Portland riverfront investment: six income-producing units.
Property Size8,535 SF
Price / SF$263.27
Days on Market58
Property Features for 302 North Bridgeton Road
General Information
- Standard status
- Active
- Size
- 8,535 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 2021
Listing Agency
Epique Realty
(503) 819-9191
Listed by
Charles Ramsay · License #981200036
(503) 819-9191
Source
Compass
Added: May 21 Checked: Jul 17 at 11:23 am
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 Epique Realty
Investment Insights
Based on property information with market context.
This turnkey Portland riverfront investment opportunity features three modern townhomes, each with a permitted attached Accessory Dwelling Unit (ADU), for a total of six income-producing units. Constructed in 2021, the property is located in the Bridgeton neighborhood near the Columbia River, marinas, yacht clubs, Portland International Airport (PDX), downtown Portland, and Vancouver. The property offers flexible ownership and income strategies in one of Portland’s waterfront communities. Each residence features contemporary architecture, soaring ceilings, oversized windows, designer kitchens with quartz countertops and stainless steel appliances, spacious outdoor living areas, attached garages, and high-efficiency construction. The ADUs are approved for short-term rentals, creating additional flexibility for investors or owner-occupants seeking supplemental income. The property was developed with individual fee simple parcels, allowing the option to operate as a multifamily investment, sell units individually, or create a long-term hold portfolio. The property size is 8535 square feet.
Key Highlights
- Six income‑producing units: Three modern townhomes, each with a permitted attached ADU.
- Prime riverfront location in the desirable Bridgeton neighborhood near the Columbia River.
- ADUs approved for short‑term rentals, offering flexible income potential.
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 | $210.0k | $24.60 |
| − Vacancy | −$10.7k | −$1.25 |
| EGI | $199.3k | $23.35 |
| − OpEx | −$89.7k | −$10.51 |
| NOI | $109.6k | $12.84 |
8,535 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,589 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $167,779 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Short term rental ...
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Turnkey Portland riverfront investment: six income-producing units.
Where is this multifamily property located?
The property is located at 302 North Bridgeton Road Portland, OR.
What is the asking price?
The asking price for this property is $2,247,000.
What are key features of this property?
This property features: Six income‑producing units: Three modern townhomes, each with a permitted attached ADU.; Prime riverfront location in the desirable Bridgeton neighborhood near the Columbia River.; ADUs approved for short‑term rentals, offering flexible income potential.
