Kwong Toy Terrace Apartments 2341 SE 152nd Ave 30 Unit Apartment Building $5,551,240 CAD ($185,041 CAD/Unit) 6.13% Cap Rate Portland, OR 97233

» Well-Located Southeast Portland Asset
Situated in a quiet residential pocket of Southeast Portland, the
property benefits from proximity to neighborhood retail, employment
centers, and major transportation corridors, while remaining removed
from heavy traffic and commercial congestion.
» Stable 30-Unit Community with Family-Oriented Layouts
The property features larger-than-average unit sizes with private
backyards that support long-term tenancy and household stability,
contributing to consistent occupancy and reduced turnover relative to
smaller-format multifamily assets.
» Strong On-Site Parking Offering
The property features 26 covered parking spaces, 4 detached garages,
and an additional 24 unassigned surface stalls, providing ample parking
for residents and enhancing overall tenant appeal and retention.
» Attractive In-Place Cash Flow with Rent Growth Potential
Current rents provide a clear runway for gradual increases through
natural lease turnover, allowing a new owner to enhance income while
maintaining resident continuity.
» Proven Renovation Path with Clear Remaining Upside
Approximately 40% of units have been renovated since 2023,
demonstrating achievable rent premiums, while the remaining 60%
present a clear value-add opportunity through continued interior
upgrades and rent alignment without major operational disruption.
» Quiet, Off-Street Setting Enhances Tenant Retention
The property’s setback location away from main arterials offers a
calm living environment that appeals to renters seeking livability and
neighborhood character.
» Durable Vintage Construction with Long-Term Hold Appeal
Original 26 units were built in 1977 with 17 single-level units (2-bd/1
bath) and 9 townhouse units (2-bd/1.5 bath) with a 152nd address in 6
separate buildings. An additional 4 townhouses (2-bd/1.5 bath) units
were built in 1999 with a Caruthers St address, the asset reflects a
proven multifamily design and construction era, making it well suited for
investors seeking a balance of stability, income durability, and long-term
appreciation.