3302 SE 122nd Ave
Portland, OR 97236
Briarwood East Apartments · Multifamily Property For Sale · 22 Units

We are pleased to present a unique off-market acquisition opportunity for Briarwood East Apartments, a well-maintained multifamily community located in Northeast Portland. The property features a balanced unit mix of affordable 2-bedroom apartments and 3-bedroom townhomes, all professionally managed and designed to support stable long-term operations. Residents benefit from amenities such as ample onsite parking, smoke-free living, high-speed internet access, and in-unit washers and dryers, creating a comfortable and modern residential environment.
A key financial highlight of this offering is the availability of two (2) assumable Portland Housing Bureau (PHB) loans, each at a favorable 4.5% interest rate, for a PHB-reviewed and qualified buyer. This represents a rare opportunity to collaborate directly with PHB in testing and advancing their assumable loan program on this property—an option not commonly available in the Portland affordable housing market. Buyers seeking creative, cost-efficient financing structures will find this feature particularly compelling.
Briarwood East Apartments was originally acquired with public funds to support Portland’s affordable housing goals. As a result, the property is subject to a 60-year affordability covenant, ensuring long-term housing stability for households earning below the area’s Median Average Income (AMI). This commitment safeguards affordability while offering investors a predictable operational framework aligned with city requirements.
This is an exceptional chance to acquire a stabilized, mission-aligned asset with advantageous financing options and direct engagement with the Portland Housing Bureau.