3246 SE 115th AVE, Portland, OR 97266

Property Description

Rare opportunity to acquire a fully completed 15 unit cottage cluster at 3246 SE 115th Ave in Portland’s Powellhurst Gilbert neighborhood, purpose built for long term rental performance. Built by a multi year Street of Dreams builder and Builder of the Year award winner by the Home Building Association, this detached home community offers immediate income potential, low ongoing maintenance, and strong appreciation fundamentals, making it a compelling addition to any portfolio. The unit mix includes 2 bedroom, 2.1 bathroom and 3 bedroom, 2.1 bathroom homes ranging from 894 to 970 sqft. Each home is individually metered with no shared walls, enhancing tenant privacy and allowing clean utility pass throughs. Energy efficient mini splits provide heating and cooling in every unit, helping control operating costs while supporting tenant comfort and retention. Modern construction and systems help reduce near term capital expenditure needs compared to older vintage multifamily assets. Site features include five off street parking spaces, private patios, and layouts designed for strong rental appeal. Proximity to Fubonn Shopping Center, the Jade District, So Kong Dong Korean BBQ, Tik Tok Restaurant & Bar, Starbucks, local cafés, Raymond Park, Gilbert Heights Park, and Powell Butte Nature Park further supports strong and stable rental demand. With full site control, no HOA complications, and middle housing of this scale increasingly rare under current zoning, this is a turnkey, low maintenance multifamily asset in a high demand SE Portland location.