97204 Real Estate Search

97204 Multi-Family Homes for Sale

The 97204 area, located in the heart of Portland, Oregon, offers a vibrant real estate market for multi-family homes that appeals to both investors and homeowners alike. With its dynamic urban landscape, residents benefit from a rich array of amenities, including eclectic dining options, lush parks, and easy access to public transportation. The multi-family homes in this region often feature a blend of historic charm and modern updates, making them an attractive option for those seeking rental income or a multi-generational living environment. As demand for housing continues to grow in Portland, the appreciation potential of these properties makes them a noteworthy opportunity for savvy investors looking to capitalize on the thriving real estate scene in this bustling city.

Our website features the best real estate search for multi-family homes available in 97204 and surrounding areas. It is the only site you will ever need! It is easy-to-use and updated by the official REALTOR®’s database every 15 minutes. 

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Newest 97204 Multi-Family Homes for Sale

$350,000
2 Beds ⋅ 1 Baths ⋅ 619548618 MLS
Buyer couldn't qualify. Step back into the elegance of Portland’s golden age at the Historic Ambassador, one of downtown Portland’s most iconic and architecturally significant residences. Designed by renowned architect Carl L. Linde in 1923, this stately Jacobean-style building evokes the feeling of a classic Upper West Side Manhattan apartment house tucked quietly into the heart of Portland. From the moment you arrive beneath the cast stone entry and pass through the impeccably maintained courtyard, you’re transported to another era of gracious pre-war living where parquet floors, wrought iron railings, mirrored French doors, brass accents and richly detailed millwork create an atmosphere that feels worlds away from ordinary condo living. Unit #506 features hardwood floors, soaring 9-foot ceilings, stacked crown moldings, picture rail details, tall baseboards and abundant original charm throughout. The spacious living room is filled with natural light from oversized south-facing windows and flows seamlessly into the elegant formal dining room with original built-ins and chandelier. The kitchen retains its historic character with parquet floors, shaker-style cabinetry and original built-ins. Residents enjoy a stunning rooftop deck with rose gardens and panoramic city views, reservable guest suite, bike storage, dedicated storage unit and beautifully maintained common areas. No rental cap. Parking space #7 is leased monthly. The location is nothing short of exceptional. With a Walk Score of 99 and Transit Score of 94, daily errands rarely require a car. Step outside your front door to Portland’s vibrant Cultural District with the Arlene Schnitzer Concert Hall, Portland Art Museum, theaters, coffee shops, cocktail bars, restaurants, farmers markets, grocery stores and MAX access all just moments away. It’s the kind of neighborhood where evenings are spent strolling tree-lined streets to dinner or a concert and weekends unfold exploring all Portland has to offer.

1209 SW 6TH AVE, Portland
$3,500,000
258454436 MLS
Exceptional opportunity to acquire a highly visible downtown Portland parcel currently operating as an income-generating surface parking lot. Located in the heart of the city at SW 2nd Ave & Salmon St, this site offers outstanding foot traffic, accessibility, and urban exposure.The current owner is almost through the permitting process to develop the un-used side of the parcel into a food cart pod — one of Portland's most iconic and profitable commercial formats. Food cart pods have become a cornerstone of Portland's culinary culture, drawing consistent local and tourist traffic. The parcel's flexibility allows for various development directions for the right buyer or investor.Whether you execute the food cart pod vision or explore alternative development possibilities, this downtown location offers rare flexibility in one of Oregon's most dynamic urban markets. •Currently operating as surface parking (existing cash flow)•Conceptual plans for food cart pod•Prime SW Portland address with high visibility & foot traffic•Located in the center of Downtown Portland right next to the Court House, walking distance to the river front. •Strong surrounding daytime & evening pedestrian activity

969 SW 2nd AVE Unit #4000, Portland
$50,000
215424208 MLS
Turnkey Authentic Sichuan Restaurant – Prime Downtown Portland Location, An exceptional opportunity to acquire a beloved and well-established restaurant in the heart of Portland, located within a vibrant urban dining corridor benefiting from strong foot traffic generated by office workers, nearby residents, and year-round visitors.Sichuan Taste Restaurant is widely known for its authentic Sichuan cuisine, showcasing bold, spicy flavors and traditional recipes that have cultivated a loyal and repeat customer base through consistent quality, generous portions, and attentive service. The restaurant enjoys strong local recognition and a solid reputation for its signature Szechuan dishes, along with a diverse menu of classic entrées, noodle and rice plates, and specialty beverages.The kitchen is anchored by a powerful 18-foot Type I commercial hood and exhaust system, ideal for heavy-duty cooking and high-volume operations. A five-wok cooking station makes this location especially suitable for other menus.All major equipment and furniture are included in the sale, making this a true plug-and-play opportunity for owner-operators or investors seeking a smooth transition. This well-designed layout, combined with extensive infrastructure, supports high productivity, flexibility, and scalability for future growth.This is a true turnkey operation, featuring a fully equipped commercial kitchen and complete set of fixtures and equipment, allowing a new owner to step in and continue operations immediately.With an OLCC liquor license in place, the business can unlock new revenue streams and increase overall profitability. Or Bring your own food menu.

515 SW 4TH AVE, Portland
$1,900,000
691061809 MLS
The Lombard Building presents a rare opportunity to acquire a meticulously renovated historic property in Portland's central core. Originally built in 1889, the building combines architectural character with modern functionality. The building's location delivers convenient connectivity with multiple MAX stations within a 5-minute walk, Union Station a 15-minute walk, and PDX airport a 21-minute drive. The surrounding Old Town/Chinatown district offers tenants and customers an amenity-rich environment with dining, shopping, and entertainment options, plus close proximity to waterfront parks and the Pearl District. With turnkey condition, tenant income, and unmatched transit access in one of Portland's most dynamic neighborhoods, this represents a compelling core investment opportunity. Seller has an active real estate license in OR.

220 SW 1ST AVE, Portland
$2,800,000
482653781 MLS
This exceptional brick building presents a rare opportunity to occupy a distinctive property in the heart of Portland's downtown. Built in 1902, this charming building features a dramatic spiral staircase connecting two office floors, skylights, and high ceilings that showcase its historic character. The flexible floor plan includes multiple offices, a conference space, a kitchen area. Located just steps from multiple bus lines, the property provides exceptional transit connectivity with an 11-minute walk to Union Station and 21-minute drive to PDX airport. This building offers a unique architectural character and unbeatable downtown accessibility, for any business looking to stand apart from conventional office space. Seller has an active real estate license in OR.

122 SW 3RD AVE, Portland
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The content relating to real estate for sale on this site comes in part from the IDX program of the RMLS of Portland, Oregon. Real Estate listings held by brokerage firms other than this firm are marked with the RMLS logo, and detailed information about these properties include the name of the listing's broker. Listing content is copyright © 2026 RMLS of Portland, Oregon. All information provided is deemed reliable but is not guaranteed and should be independently verified. This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.