New Multifamily Investment
5139 SE Aldona Ct Milwaukie, OR 97267
For Sale
$3,799,900
MULTI_FAMILY - Milwaukie, OR
Property Size11,892 SF
Lot Size0.88 Acres
Price / SF$319.53
Days on Market158
Property Features for 5139 SE Aldona Ct
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Property condition
- Under Construction
- Zoning
- R10
- Bedrooms
- 3
- Bathrooms
- 3
- Rooms
- Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 2, Bedroom 3, Bathroom 2
- Standard status
- Active
- APN
- New Construction
- Size
- 11,892 SF
- Lot size
- 0.88 Acres
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 2026
- Floors in Building
- 2
- Number of units
- 8
- Roof type
- Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
(503) 709-4632
Added: Feb 18
Changed: Jul 26
Last Checked: Jul 26 at 2:06PM
MLS# 173282713
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This offering features four newly constructed duplexes, totaling eight residential units, situated on approximately 0.88 acres. The properties include twelve bedrooms and eight full plus four half bathrooms, with unit sizes ranging from approximately 1,487 to 1,495 square feet. Each unit has an efficiently designed two-story layout with three bedrooms, two and a half bathrooms, an open-concept main level, a covered front porch, a private patio, and a fenced yard. One-car attached garages and additional driveway parking enhance tenant appeal. A half bathroom is located on the main level, and upstairs includes all bedrooms and a full laundry room. Constructed with durability in mind, each duplex includes high-efficiency gas forced-air heating, modern insulation standards, and quality finishes. A double-framed common wall with a one-inch air gap and insulation between units enhances separation and privacy. Located in Clackamas County, property taxes may be lower than many areas within Portland city limits. The development is located close to Milwaukie Bay Park and the Willamette River waterfront (approximately 1.5 miles), downtown Milwaukie shops and dining (approximately 1.5 miles), New Seasons Market (approximately 1.6 miles), the Milwaukie/Main Street MAX Station (approximately 1.7 miles), and provides quick access to SE McLoughlin Blvd. This eight-unit portfolio presents an opportunity for investors seeking stable, low-maintenance multifamily assets in a growing Milwaukie submarket.
Key Highlights
- Four newly constructed duplexes with 8 total residential units on lots 7–10, totaling approx. 0.88 acres combined
- Units are approx. 1,487–1,495 SF with a 3‑bedroom, 2.5‑bath two‑story layout, including open‑concept main level living
- Each unit includes a covered front porch, private patio, fenced yard, and a one‑car attached garage plus additional driveway parking
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 | $292.5k | $24.60 |
| − Vacancy | −$14.9k | −$1.25 |
| EGI | $277.6k | $23.35 |
| − OpEx | −$124.9k | −$10.51 |
| NOI | $152.7k | $12.84 |
11,892 SF · lease $24.60/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.18M
$1.91M – $2.54M
NOI $152,693 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.21M
$2.81M – $3.74M
NOI $224,696 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Eight-unit portfolio in Milwaukie with strong rental demand.
Where is this apartment building located?
The property is located at 5139 SE Aldona Ct Milwaukie, OR.
What is the asking price?
The asking price for this property is $3,799,900.
What are key features of this property?
This property features: Four newly constructed duplexes with 8 total residential units on lots 7–10, totaling approx. 0.88 acres combined; Units are approx. 1,487–1,495 SF with a 3‑bedroom, 2.5‑bath two‑story layout, including open‑concept main level living; Each unit includes a covered front porch, private patio, fenced yard, and a one‑car attached garage plus additional driveway parking
