
Description
Introducing 15th Avenue Apartments—a 9-unit multifamily investment opportunity in Portland’s desirable Vernon Neighborhood. This well-maintained property offers a mix of studio and one-bedroom apartments, each featuring hardwood flooring, fully equipped kitchens, and spacious closets. Residents benefit from shared community amenities including ample off-street parking, on-site laundry facilities, and a shared outdoor space complete with a firepit. Strategically located in vibrant North Portland, 15th Avenue Apartments is situated off NE Killingsworth St, a major corridor well-served by public transportation with a myriad of retail and dining options. The property is only minutes from the high-end local grocer New Seasons Market — a significant neighborhood hub for families throughout North Portland. According to a recent Article on Eater, of the top 38 restaurants in the city, 9 are within walking distance of the property, 3 of which are within 3 blocks. 15th Avenue Apartments is also just a five-minute drive from Portland Community College, serving over 50,000 students across the city.
Listing Details
- Cap Rate
6.18%
- Space Type
Multifamily
- Sub Category
Apartments Building
- Sale Type
Investment Sale
- Date Listed
5/13/2025
- Parking Info
2.63/1,000 SF
Property Specifics
- Property Name
15th Avenue Apartments | 5402-5416 NE 15th Ave
- Property Class
C
- No of Stories
1
- No of Units
9
- Year Built
1956
- Building Size
4,180 SF
- Lot Size
0.23 Ac
- Zoning
R-1