29-Unit Apartment
For Sale
$13,774,900
5141 SE Aldona Ct, Milwaukie, OR 97267
MultiFamily, Milwaukie, OR
Property Size46,391 SF
Lot Size2.82 Acres
Price / SF$296.93
Days on Market252
Property Features for 5141 SE Aldona Ct
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R10
Bedrooms
12
Bathrooms
12
Full bathrooms
12
Rooms
Bathroom 5, Bedroom 12, Bedroom 3, Bathroom 2, Bedroom 7, Bathroom 8, Bedroom 6, Bathroom 4, Bathroom 7, Bathroom 3, Bedroom 8, Bedroom 5, Bedroom 1, Bathroom 12, Bathroom 10, Bedroom 9, Bedroom 4, Bedroom 11, Bedroom 2, Bathroom 1, Bathroom 9, Bathroom 11, Bedroom 10, Bathroom 6
Subdivision
OAK GROVE COMMUNITY COUNCIL
Elementary school
View Acres
Middle school
Alder Creek
High school
Putnam
Directions
Use 15500 SE Wallace Rd, Milwaukie on Maps to Reach Community. Access is on SE Aldona Ct
Standard status
Active
APN
New Construction
Size
46,391 SF
Lot size
2.82 Acres
Utilities
Heating system
Forced Air
Building Details
Year built
2026
Floors in Building
2
Number of units
29
Roof type
Composition
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle
(503) 709-4632
Added: Feb 18
Changed: Oct 28
Last Checked: Oct 28 at 7:06PM
MLS# 336091629
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 29-unit apartment community occupies 2.82 acres and contains approximately 46,391 rentable square feet. Each residence offers three bedrooms and two and a half bathrooms in a two-story plan, with living areas centered on an open main level. Private patios, fenced yards, covered front porches, and one-car attached garages with driveway parking are included across the community. Bedrooms and full laundry rooms are positioned upstairs, while each home also has a main-level half bathroom.
The property is in Clackamas County, outside Portland city limits, with access to SE McLoughlin Blvd. Milwaukie Bay Park and the Willamette River waterfront are approximately 1.5 miles away, as are downtown Milwaukie shops and dining. New Seasons Market is approximately 1.6 miles away, and the Milwaukie/Main Street MAX Station is approximately 1.7 miles away.
Building features include forced-air heating, modern insulation, composition roofing, and double-framed walls with a one-inch air gap and insulation between residences.
The property is in Clackamas County, outside Portland city limits, with access to SE McLoughlin Blvd. Milwaukie Bay Park and the Willamette River waterfront are approximately 1.5 miles away, as are downtown Milwaukie shops and dining. New Seasons Market is approximately 1.6 miles away, and the Milwaukie/Main Street MAX Station is approximately 1.7 miles away.
Building features include forced-air heating, modern insulation, composition roofing, and double-framed walls with a one-inch air gap and insulation between residences.
Key Highlights
- 29 three‑bedroom residences totaling approximately 46,391 rentable square feet
- Unit sizes range from approximately 1,472 to 1,816 square feet; average unit size is approximately 1,600 square feet
- Each residence includes 2.5 bathrooms, a one‑car attached garage, driveway parking, private patio, and fenced yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$595,659
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,913,180
$11.9M
Cap Rate 7%
$8,509,414
$8.5M
Cap Rate 9%
$6,618,433
$6.6M
Market Conditions
NOI Build-Up for 46,391 SF
Gross rent
$1.14M $24.60/SF
− Vacancy
−$58.2K −$1.25/SF
EGI
$1.08M $23.35/SF
− OpEx
−$487.4K −$10.51/SF
NOI
$595.7K $12.84/SF
Area
Clackamas County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,913,180
Cap Rate 7%
$8,509,414
Cap Rate 9%
$6,618,433
Alternative Uses
Best Use
Apartment 5plus
$8.51M
$7.45M – $9.93M
NOI $595,659 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.52M
$10.96M – $14.61M
NOI $876,545 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
29
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
Explore this area
Business Placement
Demographics for 97267, OR
31,851
Population
12,983
Households
2.5
Avg Household Size
45
Median Age
35%
College-Educated
93%
High-School Grad
7.2 sq mi
ZIP Area
4,424
Density / Sq Mi
$85,178
Median Household Income
$47,236
Median Earnings
$1,607
Median Rent
$489,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-story residences feature attached garages, private patios, fenced yards, and open-concept living areas.
Where is this apartment building located?
The property is located at 5141 SE Aldona Ct Milwaukie, OR.
What is the asking price?
The asking price for this property is $13,774,900.
What are key features of this property?
This property features: 29 three‑bedroom residences totaling approximately 46,391 rentable square feet; Unit sizes range from approximately 1,472 to 1,816 square feet; average unit size is approximately 1,600 square feet; Each residence includes 2.5 bathrooms, a one‑car attached garage, driveway parking, private patio, and fenced yard
