Detail Img

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

Property Amenities

Unit Amenities

Air Conditioning
Hardwood Floors
Kitchen
Microwave
Natural Light
Onsite Parking
Refrigerator

Site Amenities

Dining Area
Restrooms
Storage Facilities

Location Amenities

Airport
Commuter Rail
Metro/Subway
Public Transportation