6717 Gladstone St
Portland, OR 97206
2 & 3 Bed Cottage Cluster in Foster-Powell · Multifamily Property For Sale · 5 Units

Welcome to Gladstone St Cottages, a rare multifamily investment opportunity in SE Portland comprised of five fully detached new construction residences, each on its own individual tax lot with fee simple ownership. This configuration offers exceptional flexibility for long term hold investors, 1031 exchange buyers, or future unit by unit resale, an increasingly scarce asset type in the Portland market. The portfolio includes four 3 bedroom, 2.5 bathroom homes and one 2 bedroom, 2.5 bathroom home, with square footage ranging from approximately 980 to 1,225 square feet. All homes are designed to meet modern renter demand with open living layouts, in unit laundry, and separately metered utilities that support efficient operations and predictable expense control. One 3 bedroom home includes a private one car garage, driveway parking, and central air conditioning, while the remaining homes are equipped with energy efficient mini split systems providing heating and cooling. A landscaped shared courtyard enhances curb appeal, tenant privacy, and overall livability, supporting tenant retention and long term rental stability. The property is directly across the street from Kern Park, providing immediate access to green space and recreation, a highly valued amenity for tenants. Located in the Foster Powell neighborhood, one of SE Portland’s most consistently desirable rental areas, the property benefits from strong tenant demand driven by walkability, proximity to neighborhood retail and dining, and convenient access to Woodstock, Division Clinton, downtown Portland, and I 205. This turn key portfolio supports multiple investment strategies, including long term hold, phased resale, or alternative rental approaches such as furnished or mid term housing, subject to buyer verification. Rare characteristics, detached homes, multiple tax lots, modern systems, and a supply constrained SE Portland location, combine to create a resilient investment well positioned for future upside. Rental income and expenses are approximated. Buyer to perform all due diligence regarding projected rental cash flow.