Sellwood Multifamily Investment Opportunity

5490 SE Milwaukie Ave, Portland, OR 97202

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For Sale

$2,250,000

Eleven-unit apartment building in desirable Sellwood neighborhood.

Type:Multifamily

HighLights

Located in the highly desirable Sellwood neighborhood of Southeast Portland.
Newer construction (2015) with modern finishes.
Turnkey asset with significant value upside.
Excellent transit connectivity, including proximity to multiple bus lines and the MAX Orange Line.
Functional unit mix with desirable interior features like hardwood‑style flooring, granite countertops, and in‑unit washer/dryers.
High Bike Score (93) and dedicated bicycle storage.

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Listing Contact

Noah R. Bussanich

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For Sale

$2,250,000

Eleven-unit apartment building in desirable Sellwood neighborhood.

Type:Multifamily

Added:: Apr 3, 2026
Days on Market:: 67
Last Refresh:: Apr 3 at 5:08 am

Property Features for 5490 SE Milwaukie Ave

General Information

Standard status: Active
Property subtype: Multifamily

We can help!

Listing Contact

Noah R. Bussanich

Listing agent Noah R. Bussanich License #OR: 201252651

Listing office Portland Office

Listing date Apr 3, 2026

Source Marcusmillichap

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 Portland Office

HighLights

Located in the highly desirable Sellwood neighborhood of Southeast Portland.
Newer construction (2015) with modern finishes.
Turnkey asset with significant value upside.
Excellent transit connectivity, including proximity to multiple bus lines and the MAX Orange Line.
Functional unit mix with desirable interior features like hardwood‑style flooring, granite countertops, and in‑unit washer/dryers.
High Bike Score (93) and dedicated bicycle storage.

Overview

The Harold Apartments, constructed in 2015, is an 11-unit multifamily property located in the Sellwood neighborhood of Southeast Portland. The property features a mix of four studio units, six two-bedroom units with one and a half bathrooms, and one two-bedroom, two-bathroom apartment. The building's design incorporates a cedar shake exterior, energy-efficient vinyl windows, and a three-story structure. Interior finishes include hardwood-style flooring, gray granite countertops, stainless steel appliances, built-in wardrobe cabinetry, ceiling fans, and in-unit stacked washers and dryers. Bathrooms feature walk-in showers with modern tile. Dedicated bicycle storage is available. The property is located in North Sellwood, with access to restaurants, coffee shops, local retail, and outdoor destinations including Oaks Bottom Wildlife Refuge, the Springwater Corridor Trail, Sellwood Park, and Eastmoreland Golf Course. Multiple bus lines serve the area, and the MAX Orange Line is located 0.2 miles away. Downtown Portland is three miles from the property. Current rents are approximately 11.5 percent below market.

Location Intelligence

Current Use by Public Records

Harold Apartments Apartment Building

Suggested Use

Location Insight

Map
Local Demand

City: Portland
County: Washington
State: Oregon
Longitude: -122.6494642
Latitude: 45.4832352

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For sale
Apartment buildings
OR
Portland
97202
5490 SE Milwaukie Ave

What type of property is this?

Apartment building - Eleven-unit apartment building in desirable Sellwood neighborhood.

Where is this apartment building located?

The property is located at 5490 SE Milwaukie Ave Portland, OR.

What is the asking price?

The asking price for this property is $2,250,000.

What are key features of this property?

This property features: Located in the highly desirable Sellwood neighborhood of Southeast Portland.; Newer construction (2015) with modern finishes.; Turnkey asset with significant value upside.

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5490 SE Milwaukie Ave, Portland, OR 97202

Eleven-unit apartment building in desirable Sellwood neighborhood.

Property Features for 5490 SE Milwaukie Ave

General Information

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Six-Unit Apartment Community

Single-Level Fourplex with Garages

New Construction Cottage Portfolio

New Construction Cottage Portfolio

Versatile Commercial Property with Warehouse

New Multifamily Investment by Park

Rose City Park Multifamily Investment

New Cottage Homes in Beaumont-Wilshire

Four-Unit Residential Income Property

Craftsman Triplex with Three Meters

North Portland Mixed-Use Triplex

Classic Irvington Duplex with Income

FAQs

5490 SE Milwaukie Ave, Portland, OR 97202

Eleven-unit apartment building in desirable Sellwood neighborhood.

Property Features for 5490 SE Milwaukie Ave

General Information

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Six-Unit Apartment Community

Single-Level Fourplex with Garages

New Construction Cottage Portfolio

New Construction Cottage Portfolio

Versatile Commercial Property with Warehouse

New Multifamily Investment by Park

Rose City Park Multifamily Investment

New Cottage Homes in Beaumont-Wilshire

Four-Unit Residential Income Property

Craftsman Triplex with Three Meters

North Portland Mixed-Use Triplex

Classic Irvington Duplex with Income

FAQs

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