232 NE 61St Ave Portland, OR 97213

12,240 SF Built 2024

Entity Owned 3-yr Hold

Property ID

US71-0865734

$3,999,900 12,240 SF

232 NE 61St Ave, Portland, OR 97213
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This exceptional 15-unit apartment building, completed in 2024, presents a compelling investment opportunity. Located in Portland, Oregon's desirable North Tabor neighborhood (97213), this property boasts 12,240 square feet on a lot ranging from 5,000 to 6,999 square feet. The three-story building features a mix of nine two-bedroom/one-bathroom and six one-bedroom/one-bathroom units, totaling 24 beds. High-end finishes throughout include custom cabinetry, stainless steel appliances, and stackable washer/dryers. Building amenities include indoor bike storage and an enclosed trash area. The property is currently fully leased, generating a Net Operating Income (NOI) of $217,993 and a 5.45% cap rate. The asking price is $3,999,900, translating to $326.79 per square foot and $266,660 per unit. A one-year builder warranty and a 15-year new construction rent-control exemption provide additional peace of mind. This property offers a strong, diversified investment portfolio with significant potential for long-term growth in a highly sought-after location. Virtual tours of select units are available online.