$7,849,900
Rare opportunity to acquire a newly constructed 18 unit multifamily development in sought after Rose City Park, offering a diversified unit mix, immediate lease up potential, and projected 5.65% cap rate at stabilization. All homes are complete, vacant, and ready for investor controlled tenant placement. The portfolio combines an eight home detached cottage cluster with ten attached townhouse style residences, balancing density, privacy, and durability. Crafted by a local boutique builder known for refined interior detailing, signature illuminated crown molding, architectural built ins, and designer accent walls, the development stands apart from typical rental construction. The tenant focused mix includes two and three bedroom residences with 2.5 bathrooms, efficient layouts, and clear separation between main living areas and upstairs sleeping spaces. Two cottages also provide a main floor fourth bedroom or office, expanding flexibility for different renter needs. Each bedroom features crown molding with integrated lighting, while built ins throughout the main living levels add storage, architectural interest, and lasting function. Detached cottages may command a rental premium through increased separation and enhanced landscaping, while attached residences offer private entries, fenced outdoor spaces, and end unit configurations that support tenant retention. High performance windows and efficient heat pump heating and cooling contribute to year round comfort while helping control operating costs. The Rose City Park location offers access to Rose City Park, Normandale Park, Rose City Golf Course, the Hollywood District, Beaumont Village, NE Sandy dining and coffee, grocery options, transit, and I-84 connections. With its combination of detached cottage premiums, polished interiors, private outdoor spaces, efficient systems, and established close in location, this portfolio is positioned to outperform typical attached townhome rentals.
732050211
MLS
2833 NE 62nd AVE, Portland
