Exceptional investment opportunity in Portland’s coveted North Tabor neighborhood. This newly constructed 16-unit apartment building, completed by a respected local builder, offers modern design, long-term durability, and broad rental appeal. With a proven rental history and low-maintenance construction, this turnkey property is ideal for both seasoned investors and those looking to expand their portfolio. The building features a desirable mix of thoughtfully designed units, allowing for flexible leasing and strong occupancy rates. Stylish, contemporary finishes throughout the interiors and a clean, modern exterior enhance tenant satisfaction and curb appeal. Secure entry and well-maintained common areas contribute to tenant comfort and building integrity. Set in the heart of North Tabor—a neighborhood prized for its close-in convenience, tree-lined streets, and easy access to transit, parks, and vibrant local businesses—this location places tenants near the MAX light rail, Providence Portland Medical Center, and popular spots like Tabor Bread, Coquine, and the Montavilla dining and shopping scene. With a strong Walk Score and bike-friendly streets, this area is ideal for tenants seeking a connected, car-free lifestyle. Enjoy the stability of a high-demand rental location, paired with the ease of a well-executed new build. Don’t miss this rare chance to own a premium multifamily asset in one of Portland’s most sought-after close-in Eastside neighborhoods.
Multi-familyProperty Type
2025Year Built
5,227 sq ftLot Size
$316Price/Sq.Ft.
Listed by Darryl Bodle• Keller Williams Realty Portland Premiere
Listed by Kelly Christian• Keller Williams Realty Portland Premiere
Suzanne Clark • Cascade Hasson Sotheby's International Realty
Around this home
Schools
K - 12
Preschool & daycare
Glencoe Elementary School
Public K-5 • Assigned • 0.4mi
10/10
Mt Tabor Middle School
Public 6-8 • Assigned • 0.2mi
10/10
Franklin High School
Public 9-12 • Assigned • 1.4mi
6/10
Provided by GreatSchools
About North
Tabor
North Tabor, located between NE Glisan Street and NE Halsey Street, is a residential and walkable Portland neighborhood with tree-lined blocks and a hillside setting. The neighborhood’s character concentrates around the NE 60th Avenue and NE Glisan Street corner, where a small cluster of local storefronts and sidewalk comings-and-goings sets the tone. Early-20th-century bungalows and mid-century houses sit on gently rising streets, with frequent glimpses toward Mount Tabor’s forested slopes. Nearby, Mount Tabor Park frames daily routines with reservoirs, stair runs, and looping paths. Community pillars include The Zipper, Bellwether Bar, and The Observatory, each adding a distinct, local cadence to evenings out. Calm residential streets meet a steady pulse along Glisan and 60th, balancing quiet and city texture.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Interior features
Entry security feature
Tree/woods view
Bedrooms
Multiple unit bedroom counts vary by unit type (see Unit breakdown)
Bathrooms
One bathroom in each unit
Kitchen
Dishwasher
Microwave
Range
Refrigerator
Laundry & utility
Electric hot water
Heating & cooling
Wall heaters (no central heating)
No cooling listed
Exterior features
Cement siding
Level lot
Tree/woods views
Home design
Multi-family property
New construction (2025)
Security
Entry security
Construction
Built in 2025
Utilities
Electric fuel
Public water
Public sewer
HOA & community
Zoned CM2
Financial info
16 total units
Unit mix with rents (actual): two smaller units at $975; four units at $1,225; two units at $1,475; four units at $1,325; one unit at $1,450; one unit at $1,425; one unit at $1,425; one unit at $1,450
Gross rent multiplier 12.11
Cap rate 5.59
Other
Total building area listed as 9,647
Electricity and solar
View estimated energy costs and solar savings for this home
The Commercial/Mixed Use 2 (CM2) zone is a medium scale zone intended for sites in a variety of centers, along corridors, and in other mixed use areas that have frequent transit service. The zone allows a wide range and mix of commercial and residential uses, as well as employment uses that have limited off-site impacts. Buildings in this zone will generally be up to four stories tall unless height and floor area bonuses are used, or plan district provisions specify other height limits. Development is intended to be pedestrian-oriented, provide a strong relationship between buildings and sidewalks, and complement the scale of surrounding residentially zoned areas.
Permitted uses
Include but are not limited to:
Religious facility
Automotive repair garage
Day care facility
General retail
Hospital / medical center
Housing
Office
Educational / school
Recreation-Other
Park & open space
Mar 6, 2025 • Final
Commercial building
New construction
Mar 6, 2025 • Final
Mechanical
HVAC
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 92° expected this year, 15 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
10/10 Air Factor
19 unhealthy days expected this year, 21 days in 30 years
Provided by First Street
Historical weather
Portland, OR • 97213
Average low and high temperatures (°F)
47
36
49
37
57
42
65
44
71
50
77
54
83
58
84
61
76
56
63
47
53
43
50
42
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
82/ 100
Very good sunlight
Sunscore
This home receives average direct sun exposure in Portland. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
10.3 hrs
3.9 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 11 NE 55th Ave
There isn’t enough information to generate an accurate estimate at this time. Learn More