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8632 21st Ave
Portland, OR 97219
The Markham Eleven | 11-Unit NC Units · Multifamily Property For Sale
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11 Units
Investment Highlights
- Entire 11 unit new construction community built by respected local builder
- Close to Gabriel Park, Multnomah Village, and Barbur Boulevard
- Approximately 6.10% pro forma cap rate at stabilization
- All homes vacant and ready for immediate lease up
- Efficient mini splits provide heating and cooling
- Private decks, patios, fenced yards, and premium end units
Executive Summary
Acquire an entire new construction 11 unit condominium community in Portland’s desirable Markham neighborhood, offering investors a turnkey portfolio with immediate lease up potential. All homes are vacant and move in ready, providing a clear path to tenant placement and income stabilization. The offering includes 9,970 total square feet across 11 thoughtfully designed 2 bedroom, 2½ bathroom residences, each spanning approximately 905 to 908 square feet. Every home features a bright great room layout. Kitchens are anchored by islands with eat bars and include solid surface countertops, stainless steel appliances, pantries, and generous cabinetry. Upstairs, dual ensuite bedrooms provide privacy that appeals to roommates, remote workers, and guests. In unit laundry and efficient mini splits add everyday convenience and year round heating and cooling. Five homes in the west building offer private decks, while six homes in the east building feature patios. Select residences add larger fenced yards, premium end unit positioning, or additional windows that enhance natural light. Built by a trusted Pacific Northwest Street of Dreams builder with over 20 years of experience, known for purposeful design and precision craftsmanship. Designed for life. Crafted to last. The location supports sustained rental appeal with Gabriel Park, Multnomah Village shopping and dining, Barbur Boulevard transit, downtown Portland, and major employment centers all within easy reach. A rare opportunity to acquire an entire lease ready community with modern construction, several variations of outdoor spaces, and compelling long term potential in Southwest Portland.
Property Facts
| Price Per Unit | $512,037 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.10% | Building Size | 9,970 SF |
| No. Units | 11 | Average Occupancy | 0% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2026 |
| Apartment Style | Townhome | ||
| Zoning | RM1 | ||
| Price Per Unit | $512,037 CAD |
| Sale Type | Investment |
| Cap Rate | 6.10% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 9,970 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built | 2026 |
| Zoning | RM1 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer Hookup
- Heating
- Stainless Steel Appliances
- Range
- Yard
- Deck
- Double Pane Windows
- Island Kitchen
- Pantry
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2.5 | 7 | $3,380 CAD | 905 |
| 2+2.5 | 2 | $3,451 CAD | 908 |
| 2+2.5 | 1 | $3,521 CAD | 908 |
| 2+2.5 | 1 | $3,662 CAD | 905 |
Property Taxes
| Parcel Number | R276957 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $353,700 CAD |
Property Taxes
Parcel Number
R276957
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$353,700 CAD
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