1925 19th Ave Portland, OR 97212-4543

Property Details for 1925 19th Ave

Year built

1964

Lot size

0.43 lot acres

Property size

17,091 SF

Zone code

R1A

Property type

Apartment buildings

APN

1N1E26DC 06700

APU

1N1E26DC06700

Description

This exceptional investment opportunity presents a 17-unit mixed-use apartment complex nestled in Portland's desirable Irvington neighborhood. The property, built in 1964, boasts mid-century modern architecture and meticulously maintained landscaped grounds. The unit mix includes one one-bedroom, fourteen two-bedroom, and two three-bedroom apartments, providing a diverse and in-demand housing option. Eleven on-site garages are available for rent, along with laundry facilities and additional storage, enhancing resident convenience and generating supplemental income. Recent capital improvements include new decks and railings (2021) and new gutters (2024), demonstrating a commitment to property upkeep. The spacious units feature functional floor plans and modern conveniences. Historically, Irvington offers limited investment opportunities, making this a rare find. The property's strong occupancy rate and potential for rent increases, coupled with opportunities to enhance fee income through parking, storage, and utility bill backs, present a compelling value-add proposition for investors seeking a stable and appreciating asset in a highly sought-after Portland location. The property's location offers convenient access to local shops, cafes, and restaurants, while maintaining a quiet, residential atmosphere. This is a truly unique offering in a well-established neighborhood. The asking price is $3,500,000.