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612 E Burnside St
Portland, OR 97214
Mattsonian Apartments · Multifamily Property For Sale
·
10 Units
Executive Summary
Mattsonian Apartments is a boutique mixed-use apartment
property located along East Burnside Street, one of Portland’s most
prominent and highly trafficked urban corridors. The three-story
building consists of 10 efficiently designed studio apartments above
a ground-floor retail space, offering investors a compelling blend
of residential and commercial income in a dense, transit-oriented
location.
Originally constructed in 1913, the property benefits from historic
character and irreplaceable urban positioning, while providing
functional layouts well suited to today’s renter-by-necessity
demographic. The residential units average approximately 500
square feet and appeal to tenants seeking affordable housing
options near employment centers, transit, and downtown
Portland amenities.
The asset features multiple income streams, including stabilized
residential rents, a ground-floor retail tenant (a tea house), and
billboard income with strong visibility along East Burnside Street.
This diversified revenue profile enhances income stability and
reduces reliance on any single source of cash flow. Additionally,
RUBS billing recovers a meaningful portion of utility expenses,
contributing to operational efficiency.
With in-place cash flow and demonstrated rental upside, Mattsonian
Apartments presents an opportunity to acquire a well-located urban
asset supported by durable demand drivers, diversified income
sources, and long-term investment stability.
property located along East Burnside Street, one of Portland’s most
prominent and highly trafficked urban corridors. The three-story
building consists of 10 efficiently designed studio apartments above
a ground-floor retail space, offering investors a compelling blend
of residential and commercial income in a dense, transit-oriented
location.
Originally constructed in 1913, the property benefits from historic
character and irreplaceable urban positioning, while providing
functional layouts well suited to today’s renter-by-necessity
demographic. The residential units average approximately 500
square feet and appeal to tenants seeking affordable housing
options near employment centers, transit, and downtown
Portland amenities.
The asset features multiple income streams, including stabilized
residential rents, a ground-floor retail tenant (a tea house), and
billboard income with strong visibility along East Burnside Street.
This diversified revenue profile enhances income stability and
reduces reliance on any single source of cash flow. Additionally,
RUBS billing recovers a meaningful portion of utility expenses,
contributing to operational efficiency.
With in-place cash flow and demonstrated rental upside, Mattsonian
Apartments presents an opportunity to acquire a well-located urban
asset supported by durable demand drivers, diversified income
sources, and long-term investment stability.
Property Facts
| Price Per Unit | $321,257 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 6.44% | Building Size | 6,840 SF |
| No. Units | 10 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1913 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | EX | ||
| Price Per Unit | $321,257 CAD |
| Sale Type | Investment |
| Cap Rate | 6.44% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 6,840 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1913 |
| Opportunity Zone |
Yes |
| Zoning | EX |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Walk-In Closets
- Freezer
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Elevator
- Public Transportation
- Individual Locking Bedrooms
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | - | 500 |
Property Taxes
| Parcel Number | R150253 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $574,521 CAD |
Property Taxes
Parcel Number
R150253
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$574,521 CAD
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