Portland Multifamily Investment
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2500 SE 157th Ave, Portland, OR 97236
Value-add 48-unit apartment complex in Portland's Centennial neighborhood.
Property SizeContact for details
Days on Market639
Property Features for 2500 SE 157th Ave
General Information
Standard status
Active
Class
C
Property subtype
Multifamily
Zoning
HR2
Occupancy
80%
Investment Type
Value Add
Net Operating Income
$527,663
Building Details
Year Built
1973
Buildings
4
Stories
2
Units
48
Listing Agency:
Marcus & Millichap - Portland
Listed By:
Georgie Christensen-Riley · License #201253912
Source:
Crexi
Added: Nov 20, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:35AM
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 Marcus & Millichap - Portland
Investment Insights
Based on property information with market context.
Bridge City Apartments presents a value-add investment opportunity in Portland, Oregon. Built in 1973 and renovated in 2022, this 48-unit complex is located in the Centennial neighborhood. The property consists of sixteen one-bedroom, one-bathroom units and thirty-two two-bedroom, one-bathroom units. The one-bedroom units have an average rent of $1,258 per month, while the two-bedroom units average $1,443 per month. The apartments feature luxury vinyl tile flooring, granite countertops, air conditioning, dishwashers, and private fenced yards. Community amenities include a pool, onsite leasing office, laundry facilities, and a community room. The property is located 12 miles east of Downtown Portland, offering access to Division Street’s shopping and dining options and proximity to Powell Butte Nature Park. The location also provides convenient access to major freeways and public transportation. The Centennial neighborhood serves as a gateway between Gresham and Southeast Portland, offering affordable rents within an evolving market. Nearby employment centers, including the Oregon Department of Human Services and Microchip Technology Inc., contribute to the neighborhood’s stable tenant base. The Centennial multifamily vacancy rate stands at 4.7% reflecting strong demand.
Key Highlights
- Value‑add investment opportunity to increase rental rates.
- Renovated in 2022, offering modern amenities.
- Located in the desirable Centennial neighborhood with a lower vacancy rate.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
506
Businesses Nearby
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Business Placement
Demographics for 97236, OR
40,193
Population
13,736
Households
2.9
Avg Household Size
36
Median Age
21%
College-Educated
81%
High-School Grad
7.7 sq mi
ZIP Area
5,220
Density / Sq Mi
$68,582
Median Household Income
$38,131
Median Earnings
$1,436
Median Rent
$414,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Value-add 48-unit apartment complex in Portland's Centennial neighborhood.
Where is this apartment building located?
The property is located at 2500 SE 157th Ave Portland, OR.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: Value‑add investment opportunity to increase rental rates.; Renovated in 2022, offering modern amenities.; Located in the desirable Centennial neighborhood with a lower vacancy rate.
