3246 SE 115th AVE, Portland, OR 97266
- $5,499,900
- 14,018
- SqFt
- List Price
- $5,499,900
- Price Change
- ▼ $20,000 1777600878
- Days on Market
- 299
- MLS#
- 543081098
- Property Type
- Multifamily
- Sqft. of Residence
- 14,018
- Lot Size
- 20, 000 SqFt to .99 Acres
- Region
- Portland Southeast
- Status
- ACTIVE
Property Description
Rare opportunity to acquire a fully completed 15 unit cottage cluster at 3246 SE 115th Ave in Portland’s Powellhurst Gilbert neighborhood, purpose built for long term rental performance. Built by a multi year Street of Dreams builder and Builder of the Year award winner by the Home Building Association, this detached home community offers immediate income potential, low ongoing maintenance, and strong appreciation fundamentals, making it a compelling addition to any portfolio. The unit mix includes 2 bedroom, 2.1 bathroom and 3 bedroom, 2.1 bathroom homes ranging from 894 to 970 sqft. Each home is individually metered with no shared walls, enhancing tenant privacy and allowing clean utility pass throughs. Energy efficient mini splits provide heating and cooling in every unit, helping control operating costs while supporting tenant comfort and retention. Modern construction and systems help reduce near term capital expenditure needs compared to older vintage multifamily assets. Site features include five off street parking spaces, private patios, and layouts designed for strong rental appeal. Proximity to Fubonn Shopping Center, the Jade District, So Kong Dong Korean BBQ, Tik Tok Restaurant & Bar, Starbucks, local cafés, Raymond Park, Gilbert Heights Park, and Powell Butte Nature Park further supports strong and stable rental demand. With full site control, no HOA complications, and middle housing of this scale increasingly rare under current zoning, this is a turnkey, low maintenance multifamily asset in a high demand SE Portland location.
/u.realgeeks.media/mal-seitz/200x200_MAL_&_SEITZ_LOGO_2008_FOR_BUSINESS_CARDS.jpg){kind=logo}
Additional Information
- Year Built
- 2025
- High School
- David Douglas
- Elementary School
- W Powellhurst
- Middle School
- Ron Russell
- Acres
- 0.90
- Living Area
- 14,018
- Stories
- 2
- Subdivision
- Powellhurst-Gilbert
- Terms
- Cash, Conventional, VA Loan
- Cooling Description
- Heat Pump, Mini Split
- Fuel Description
- Electricity
- Heating Description
- Mini Split
- Hoa Rent Includes
- None
- Hot Water Description
- Electricity
- Exterior Description
- Board & Batten Siding, Cement Siding, Lap Siding
- Roof Type
- Composition
- Sewer Description
- Public Sewer
- View
- Trees/Woods
- Parking
- Open, Paved
- Security Or Entry
- Sidewalk
- Parking Description
- Open, Paved
- Road Surface
- Paved
- Number Of Units Total
- 15
- Unit Type One Baths Total
- 3
- Unit Type One Beds Total
- 2
- Unit Type One Rent
- 2050
- Unit Type One Sq Ft
- 894
- Unit Type One Units Total
- 6
- Unit Type Two Baths Total
- 3
- Unit Type Two Beds Total
- 3
- Unit Type Two Units Total
- 9
Mortgage Calculator
Listing courtesy of Keller Williams Realty Portland Premiere.
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.