5550 Beaverton Hillsdale HwyPortland, OR 97221

Property Details for 5550 Beaverton Hillsdale Hwy

Year built

1950

Lot size

0.45 AC

Property size (Sq ft)

6,336 SF

Zone code

R1

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

1S1E18BD 00400

APU

1S1E18BD00400

Description

This exceptional investment opportunity presents a stabilized, 9-unit multifamily portfolio in desirable Portland, Oregon. The property consists of an eight-plex built between 1986 and 1987, boasting 100% occupancy and a strong net operating income (NOI) of $120,730, yielding a 6.05% cap rate. The portfolio also includes a charming 1,800 square foot, three-bedroom, two-bathroom ranch house situated on a sizable 0.45-acre lot, built in 1950. The ranch house, currently occupied by a family member at no rent, presents significant upside potential, with an estimated rental value of $3,300 per month, which would further increase the cap rate. The property features a total of 8,616 square feet on a 19,370 square foot lot, with 13 parking spaces. The eight-plex is zoned R1, offering flexibility for future development. The ranch house includes a full unfinished basement with a full bathroom, presenting the possibility of expansion or redevelopment. The property's prime location offers easy access to public transportation, grocery stores, and restaurants. This is a rare opportunity to acquire a well-maintained, high-performing multifamily portfolio with substantial upside potential in a thriving Portland market. The asking price is $1,995,000, translating to $221,667 per unit and $231.55 per square foot of net rentable space. The property's two buildings are two stories each.

Location Insight

City

Portland

County

Multnomah

State

Oregon

Latitude

45.4867

Longitude

-122.734

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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