Duplexes on 119th 3540 SE 119th Ave 6 Unit Apartment Building $1,529,558 CAD ($254,926 CAD/Unit) 7.02% Cap Rate Portland, OR 97266

The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of Duplexes on 119th, a six unit townhouse style multifamily property located at 3540 SE 119th Avenue in Portland, Oregon. Constructed in 2006, the property features a desirable and consistent unit mix comprised entirely of two bedroom, one and a half bath townhome layouts. This newer vintage remains attractive to both residents and investors, as modern building systems and materials can reduce near term capital needs relative to older Portland housing stock, supporting more predictable ownership.
The property benefits from enduring renter demand for privacy, separation, and a residential living experience. Duplexes on 119th is configured with paired townhome layouts that limit shared walls compared to stacked apartment product, creating a more home like environment. Private exterior entrances and a low density site plan further support tenant satisfaction and retention while minimizing common area maintenance.
Each unit features a functional two level layout that separates living and sleeping areas, in unit washer dryer hookups, and a design profile that continues to perform well in the Southeast Portland rental market. The property also offers dedicated on site storage, a meaningful amenity for townhome renters seeking additional space.
From an investment standpoint, the asset offers a clear value add opportunity. In place rents are approximately six percent below market, providing immediate upside through mark to market adjustments. Additional rent growth can be achieved through targeted interior upgrades such as luxury vinyl plank flooring and updated finishes. Located in
Southeast Portland’s Powellhurst Gilbert area, the property provides convenient access to transportation corridors, neighborhood retail, and daily services, supporting stable and long term tenant demand.