16-18 NE Graham St 4 Unit Apartment Building $1,373,568 CAD ($343,392 CAD/Unit) 5.15% Cap Rate Portland, OR 97212

The Graham 4-plex is a turnkey renovated vintage apartment located in one of Portland’s best neighborhoods – ideal for an investor or an owner-occupant.
Originally constructed in 1900, the Graham 4-Plex presents a rare opportunity to acquire a piece of Portland’s architectural heritage in turnkey condition. The property features four well-appointed 600 SF one-bedroom, one-bath units, each thoughtfully renovated while preserving the distinctive architectural character that makes vintage Portland properties so desirable.
Two of the four units are currently leased below
market rents, providing a clear path to additional income growth for the next owner. The property offers an attractive combination of current cash flow and future upside, making it well suited for investors seeking yield and long-term appreciation potential.
Every unit has been meticulously maintained and upgraded with modern kitchens, bathrooms, flooring, and newer appliances. Tenants benefit from a shared back patio, onsite laundry, dedicated bike storage, and secure entry, features that enhance both resident satisfaction and the property's rental appeal.
The architectural details of the Graham 4-Plex have been remarkably preserved over more than a century, offering the charm and character investors increasingly seek in Portland's vintage housing stock. At the same time, extensive modernization means the property delivers the functionality and reliability expected from a modern investment property.
The Graham 4-Plex strikes the ideal balance between timeless character and modern performance. For investors, it offers a stabilized, turnkey asset with identifiable rental upside. For an owner-occupant, it provides the opportunity to live in one unit while rental income helps offset the cost of ownership.
In a market where historic character commands attention but modern efficiency drives value, the Graham 4-Plex stands apart: a beautifully preserved 1900 property, thoughtfully renovated for today’s market, with income upside from day one.