HFO Investment Real Estate is pleased to present this five-unit multifamily opportunity located in Portland’s highly sought-after Buckman neighborhood. Built in 1890, the property offers a rarecombination of historic character, recent capital improvements, and an exceptional inner-southeast location with walkable access to neighborhood amenities, parks, grocery stores, restaurants, anddowntown Portland employment centers. The efficient unit mix consists of one two-bedroom apartment and four one-bedroom apartments, catering to the strong demand for attainable urban housing.Residents benefit from high ceilings, central forced-air heating, private storage, on-site laundry, off-street parking, and large backyard space. Recent improvements, including a newer roofand a fully renovated two-bedroom unit completed in 2025, help minimize near-term capital expenditures while preserving the vintage charm that continues to attract renters to Portland’s historic eastside neighborhoods.
Buckman, located between the Willamette River and Mt. Tabor, is a historic and artsy Portland neighborhood with a warehouse-to-loft streetscape and a café-lined grid. The neighborhood’s character concentrates around SE 28th Avenue and SE Burnside Street, where espresso bars, indie boutiques, and late-night bites keep sidewalks busy. Powell’s Books on Hawthorne anchors browsing culture, while Revolution Hall pairs concerts with rooftop views in a former high school. The Doug Fir Lounge adds a woodsy stage-and-bar scene near the Central Eastside edge. Early-1900s bungalows and brick walk-ups mix with converted industrial buildings. Bike lanes and frequent bus lines stitch together parks, patios, and corner markets.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Interior features
Basement with storage space
Hot water provided by electricity
Bedrooms
Five 1-bedroom units and one 2-bedroom unit across the building (unit mix includes four 1-bed units of ~500 area each and one 2-bed unit of ~700 area)
Bathrooms
Each unit has one bathroom
Kitchen
Each unit includes a range and a refrigerator
Laundry & utility
No specific on-site laundry details provided
Heating & cooling
Forced air heating
Central air conditioning
Exterior features
Level lot
Paved road access
Wood siding
Composition roof
Home design
Multi-family property
Not attached to another property
Built in 1890
Concrete perimeter foundation
Zoning: RM2
Parking
On-street parking
Construction
Wood siding exterior construction
Composition roofing
Concrete perimeter foundation
Year built 1890
Utilities
Public water
Public sewer
Electricity for fuel and hot water
Financial info
Five total units
Unit rents reported: $1,375; $1,350; $896; $1,017; $1,800
Gross rent multiplier 9.35
Cap rate 5.17
Rent includes electricity, sewer, trash collection, and water
Other
Total building area reported as 3,075
Lot size approximately 5,227 square feet (about 0.12 acre)
Electricity and solar
View estimated energy costs and solar savings for this home
The RM2 zone is a medium-scale multi-dwelling zone that is generally applied in and around a variety of centers and corridors that are well-served by transit. Allowed housing is characterized by buildings of up to three or four stories with a higher percentage of building coverage than in the RM1 zone, while still providing opportunities for landscaping and outdoor spaces that integrate with residential neighborhood characteristics. The major types of new housing development will be a diverse range of multi-dwelling structures and other compact housing that contribute to the intended urban scale of centers and corridors, while providing transitions in scale and characteristics to lower-scale residential neighborhoods.
Permitted uses
Include but are not limited to:
Housing
Housing-Group
Housing-Single unit
Housing-Multiple units
Housing-Senior
Oct 9, 2023 • Final
Bes - sewer connection plumbing
Plumbing
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, 14 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 • 97214
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Sun exposure
Try the sun simulator tool to see how light moves across the property at different times of day and year.
Provided by Shadowmap
Redfin Estimate for 1925 SE Alder St
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