Positioned just outside the heart of Multnomah Village, this newly built 7 unit investment opportunity pairs efficient modern construction with one of Southwest Portland’s most established neighborhood settings. The property is configured as a fourplex and triplex and offers seven 2 bedroom, 2½ bathroom residences totaling approximately 6,760 square feet. Each home features a thoughtfully designed two story floor plan with an open main level connecting the kitchen, dining area, and living room, plus a private patio that extends usable living space outdoors. Upstairs, each residence includes two bedrooms, two full bathrooms, and conveniently located laundry, while energy efficient mini splits provide year round heating and cooling. The consistent unit mix supports straightforward management, while the mix of end and interior units creates natural differentiation across the property. An exceptional 83 Walk Score strengthens long term tenant appeal, with Multnomah Arts Center, Village Coffee, Fat City Cafe, Annie Bloom’s Books, Grand Central Bakery, and the broader collection of shops, dining, services, and neighborhood amenities of Multnomah Village all nearby. The location also provides convenient access to major Southwest Portland transportation corridors and employment centers while retaining the walkability and neighborhood character that continue to attract residents to this area. New construction gives investors the benefit of modern systems, efficient layouts, and reduced near term capital expenditure compared with older multifamily inventory. Every detail reflects the vision of a multi-year Street of Dreams builder, blending elevated design with everyday livability and backing every home with an exceptional warranty. This is how your investment was meant to be.
Multi-familyProperty Type
2026Year Built
6,098 sq ftLot Size
$458Price/Sq.Ft.
Listed by Darryl Bodle• Keller Williams Realty Portland Premiere
Listed by Kelly Christian• Keller Williams Realty Portland Premiere
Multnomah Village, located between Hillsdale and Garden Home, is a walkable and village-like Portland neighborhood with a compact main street and a wooded, creekside backdrop. The neighborhood’s character concentrates around SW Multnomah Blvd and SW 35th Ave, where bookshops, bakeries, pubs, and small galleries line the sidewalks. Landmark architecture leans Craftsman and mid-century, with tidy bungalows and low-slung ranch homes on leafy blocks. Village Books anchors the literary streak, while the Multnomah Arts Center adds studios, classes, and performances. Gabriel Park’s trails and fields shape daily routines, and nearby Tryon Creek State Natural Area brings a forested edge to the grid.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Interior features
Crawl space basement
No built-in storage listed
Bedrooms
Multiple 2-bedroom units (see unit breakdown)
Bathrooms
Each unit has 3 bathrooms (per unit type)
Kitchen
Units equipped with a range
Units include a dishwasher
Laundry & utility
Washer/dryer hookups in each unit
Electric tank hot water
Heating & cooling
Heat pump heating
Mini-split heating and cooling
Cooling provided by heat pump / mini-split systems
Exterior features
Cement and lap siding exterior
Level lot on a public road
Paved road access
View of trees/woods
Sidewalks present
Home design
Multi-family property
New construction
Parking
No dedicated parking listed
Security
Sidewalk noted as a security/feature (public pedestrian access)
Construction
Composition roof
Concrete perimeter and stem wall foundation
Year built 2026
Total building area approximately 6,760
Utilities
Electric fuel
Public water
Public sewer
HOA & community
Zoning: CM1
Financial info
Cap rate reported at 4.69
Gross rent multiplier reported at 15.76
Seven total units in the building
Unit rents range roughly from $2,350 to $2,575 per month (unit-level actual rents provided)
Electricity and solar
View estimated energy costs and solar savings for this home
As the MLS and public records start to fill up, we'll list the details here.
Public record
Public record
Zoning
Beds
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Baths
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Stories
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Lot width
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Lot depth
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Lot size
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Year renovated
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Finished Sq. Ft.
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Unfinished Sq. Ft.
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Total Sq. Ft.
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Year built
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Style
Multi-Family (5+ Unit)
County
Multnomah County
APN
New Construction
Parking Spaces
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Basement
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Accessible
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HOA Dues
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Garage
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Features
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Last updated by owner on Sep 4, 2026.
CM1
Commercial/Mixed Use 1 Zone
The Commercial/Mixed Use 1 (CM1) zone is a small-scale zone intended for sites in dispersed mixed use nodes within lower density residential areas, as well as on neighborhood corridors and at the edges of neighborhood centers, town centers and regional centers. The zone is also appropriate in core commercial areas of centers in locations where older commercial storefront buildings of 1 to 2 stories are predominant. This zone allows a mix of commercial and residential uses. The size of commercial uses is limited to minimize impacts on surrounding residential areas. Buildings in this zone will generally be up to three stories tall. Development is intended to be pedestrian-oriented and compatible with the scale and characteristics of adjacent residentially zoned areas or low-rise commercial areas.
Permitted uses
Include but are not limited to:
Religious facility
Day care facility
Hospital / medical center
Housing
Housing-Group
Educational/school
Park & open space
Climate risks
Flood Factor
We're working on getting current and accurate flood risk information for this home.
Fire Factor
We're working on getting current and accurate fire risk information for this home.
3/10 Heat Factor
7 hot days expected this year, 14 days in 30 years
Wind Factor
We're working on getting current and accurate wind risk information for this home.
10/10 Air Factor
19 unhealthy days expected this year, 20 days in 30 years
Provided by First Street
Historical weather
Portland, OR • 97219
Average low and high temperatures (°F)
47
37
49
38
56
43
64
45
70
50
77
54
83
58
84
62
76
58
61
49
52
44
50
42
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
89/ 100
Very good sunlight
Sunscore
This home ranks in the top 16% for direct sun exposure in Portland. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
10.5 hrs
6.3 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 7574 SW 31st Ave
There isn’t enough information to generate an accurate estimate at this time. Learn More