Seller will carry a first position loan at terms to be provided! 6.12 Cap Rate! 5 Unit apartment community in the heart of SW Portland, John's Landing & South Portland neighborhood. Minutes to downtown Portland & ideal for owner occupy! The property's 1, 3 & 4 bedroom units feature large floor plans, fully equipped kitchens w/stainless appliances, fireplaces, A/C, in-unit washer & dryer, patios or balconies & attached garages. Photos of Unit 5017 is 1900 sq. ft. apartment w/4 bedrooms, 2.5 bathrooms & river views. Photos of Unit 5021 is 2200 sq. ft. apartment w/4 bedrooms, 2.5 bathrooms and 2 car garage.Minutes to mass transit, freeways, shopping & recreation. Seller financing available, terms to be provided upon request. Additional utility offset paid by tenants $44 per person in each unit. Currently is $704 per month. Most units are nicely updated. Do not disturb tenants, Showing subject to Buyer qualifications and acceptable offer.
Multi-familyProperty Type
1979Year Built
10,018 sq ftLot Size
$198Price/Sq.Ft.
6 car garageParking
Listed by Peter Jameson• J Residential Properties
Listed by Erin Jameson Maher• J Residential Properties
Bought with Peter Jameson• J Residential Properties
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Beds
6
Baths
4
Stories
2
Lot width
—
Lot depth
—
Lot size
10,000 Sq. Ft.
Year renovated
1979
Sq. Ft.
2,972
Year built
1979
Style
Other
County
Multnomah County
APN
R285411
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 15, 2026.
RM2
Residential Multi-Dwelling 2 zone
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
Property details
Parking
Parking Information
Parking Features: Garage, Off Street
Parking Total: 5
Garage Information
Garage Spaces: 6
Interior
Appliances
Hot Water Description: Electricity
Interior Features
Storage: Garage(s)
Basement: Daylight, Finished
Exterior
Exterior Features
Roof: Composition
Exterior Description: Panel, T-111 Siding
Unreinforced Masonry Bldg: No
Lot Information
Lot Size Square Feet: 10,018
Lot Size Range: 10,000 to 14,999 SqFt
Lot Size Acres: 0.23
Lot Size: 10,000 to 14,999 SqFt
Lot Features: Sloped
Parcel Number: R285411
Road Surface Type: Concrete
Property Information
Property Type: Multi Family
Property Attached YN: No
Property Condition: Existing
View YN: Yes
View Description: Mountain(s), River, Valley
Building Information
Year Built: 1979
Building Area Total: 8,365
Foundation Details: Block, Concrete Perimeter
Financial
Tax Information
Tax Year: 2023
Tax Legal Description: TERWILLIGER HMSTD, BLOCK 14, LOT 2&3