Laurelhurst Townhomes 117 SE 30th Pl 5 Unit Apartment Building $1,954,288 CAD ($390,858 CAD/Unit) 4.69% Cap Rate Portland, OR 97214

The subject property consists of five units with covered parking on SE 30th Place, just a block off of E Burnside St, in the heart of Portland’s Close-In Eastside.

All five units at the subject 5-plex are townhouse-style with two bedrooms and one bathroom and include a separate dining area with ample closet space. Averaging approximately 900 square feet, all units include a covered tuck-under parking space and a storage unit. Laundry is shared in the basement and is free for tenants to use.
Over the last ten years every unit at the property has been renovated with new kitchens, fixtures, flooring, and paint. Additional improvements include newer exterior paint, a new roof in 2011, and energy efficient vinyl windows. The rents at this turn-key property are below market, providing upside for a new owner.
Featuring a Walk Score of 92 and a Bike Score of 90, the property has easy access to downtown Portland (8 minutes) and is transit-oriented with public bus lines stopping a block away and both the 42nd & Hollywood and Lloyd Center/NE 11th Ave MAX Light Rail stops just over a mile away.
The location is what sets this 5-plex apart. Tenants benefit from the convenient location with walking distance to many neighborhood restaurants, bars, and stores, including a Whole Foods Market (3 blocks), and some of Portland’s most acclaimed restaurants, including Ken’s Artisan Pizza, Bamboo Sushi, and La Buca. Two blocks away, SE 28th and Burnside in Portland is a busy, eclectic intersection that sits at the edge of the city's vibrant Hawthorne District and is close to the Belmont area. The location is nearby several popular spots, like the quirky shops along SE Hawthorne Blvd and eclectic dining options in the area. It’s also close to some Portland staples like Powell’s Books and the iconic Bagdad Theater, just a few blocks away.
Laurelhurst is a historic eastside neighborhood known for its tree-lined streets, beautiful parks, and stately homes. Situated just east of downtown, it offers a mix of residential tranquility and easy access to urban amenities. The centerpiece of the area is Laurelhurst Park, a lush, 30-acre green space perfect for walking, picnicking, and enjoying nature. With its historic architecture, vibrant community, and proximity to local cafes and shops, Laurelhurst embodies a blend of old-world charm and modern-day convenience.