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4346-4350 SE Milwaukie Ave 6 Unit Apartment Building $1,247,796 CAD ($207,966 CAD/Unit) 5.90% Cap Rate Portland, OR 97202
INVESTMENT HIGHLIGHTS
- NEIGHBORHOOD ADVANTAGE Brooklyn Attracts Young Professionals, Supporting Strong, Stable Residential Demand and Rental Growth Potential
- RECENT IMPROVEMENTS Fresh Exterior Paint (2025) for Polished Curb Appeal and Improved Tenant Attraction/Retention
- INCOME POTENTIAL Market Rents Suggest Approximately 12% Potential Residential Cash-Flow Increase Over Current Income
- PORTLAND MARKET Proximity to Downtown and Transit Drives Long-Term Appreciation Across the City
- COMMERCIAL POTENTIAL Ground-Floor 500 SF Laundromat with Separate Entrance, Updated Machines, Ready for Reactivation or New Tenant
EXECUTIVE SUMMARY
The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of 4346-4350 SE Milwaukie Ave, a mixed-use
opportunity in Portland’s dynamic Brooklyn neighborhood. The property offers a rare combination of immediate rental income and long-term upside. The property’s six-unit residential component—five 1-bedroom/1-bath and one 2-bedroom/1-bath unit—is fully occupied, generating steady cash flow with defendable upside of11+%. Recent capital improvements include a full exterior repaint in October 2025, enhancing curb appeal and tenant attraction/retention.
Brooklyn’s proximity to inner Southeast Portland neighborhoods, including Hawthorne and Sellwood/Moreland, ensures access to a growing base of young professionals and renters seeking convenient transit, nearby shops, and amenities, supporting stable long-term occupancy and rent growth.
The ground-floor space, formerly a laundromat (retired during Covid) that consistently grossed around $2,000 per month, presents an excellent opportunity to diversify income or re-lease to a complementary retail tenant. Existing appliances—four each newer washers/dryers plus two each that need minor repairs—could allow the space to be reactivated quickly or repurposed with minimal capital. Its separate exterior entrance preserves flexibility for retail or service use without disturbing upstairs tenants. With both resilient residential cash flow and redevelopment potential in a neighborhood poised for continued appreciation, this property offers investors a balanced combination of income stability and upside potential.
opportunity in Portland’s dynamic Brooklyn neighborhood. The property offers a rare combination of immediate rental income and long-term upside. The property’s six-unit residential component—five 1-bedroom/1-bath and one 2-bedroom/1-bath unit—is fully occupied, generating steady cash flow with defendable upside of11+%. Recent capital improvements include a full exterior repaint in October 2025, enhancing curb appeal and tenant attraction/retention.
Brooklyn’s proximity to inner Southeast Portland neighborhoods, including Hawthorne and Sellwood/Moreland, ensures access to a growing base of young professionals and renters seeking convenient transit, nearby shops, and amenities, supporting stable long-term occupancy and rent growth.
The ground-floor space, formerly a laundromat (retired during Covid) that consistently grossed around $2,000 per month, presents an excellent opportunity to diversify income or re-lease to a complementary retail tenant. Existing appliances—four each newer washers/dryers plus two each that need minor repairs—could allow the space to be reactivated quickly or repurposed with minimal capital. Its separate exterior entrance preserves flexibility for retail or service use without disturbing upstairs tenants. With both resilient residential cash flow and redevelopment potential in a neighborhood poised for continued appreciation, this property offers investors a balanced combination of income stability and upside potential.
PROPERTY FACTS
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
| 2+1 | 1 | - | - |
1 1
Walk Score®
Very Walkable (81)
Bike Score®
Biker's Paradise (93)
PROPERTY TAXES
| Parcel Number | R117974 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $509,060 CAD |
PROPERTY TAXES
Parcel Number
R117974
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$509,060 CAD
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4346-4350 SE Milwaukie Ave
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