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About this home
A distinctive new construction investment opportunity in Southwest Portland, this four residence townhouse community combines consistent rental layouts with individual outdoor spaces and convenient access to everyday amenities. Each home features two bedrooms, two full bathrooms and a main level powder room, creating an attractive configuration for long term rental use. Open living and dining areas connect to functional kitchens, offering comfortable space for gathering, meals and daily routines. Upstairs bedrooms and full bathrooms are thoughtfully separated from the main living level, with conveniently located stacked laundry in each residence. Individual concrete patios provide an inviting extension of the living space, while the front home offers the largest interior floor plan and the rear residence boasts the largest yard in the community. Energy efficient mini splits provide heating and air conditioning for year round comfort, and a one year builder warranty adds assurance for a new owner. With four similarly appointed homes in one location, the property presents a cohesive addition to an investment portfolio while offering a variety of layouts and outdoor amenities to attract prospective tenants. The Southwest Portland setting places Dickinson Park, Woods Memorial Natural Area, PCC Sylvania and Barbur World Foods nearby, along with shopping and dining options on SW Barbur Boulevard. Access to SW Taylors Ferry Road and SW Capitol Highway provides connections throughout the surrounding area. 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 home was meant to be.
Multi-familyProperty Type
2026Year Built
4,791 sq ftLot Size
$429Price/Sq.Ft.
Listed by Darryl Bodle• Keller Williams Realty Portland Premiere
Listed by Kelly Christian• Keller Williams Realty Portland Premiere
Ashcreek, located between Multnomah Village and Hillsdale, is a residential and wooded Portland neighborhood with winding hillside streets and creekside greenways. The neighborhood’s character concentrates around SW Vermont St and SW 45th Ave, where a compact strip of cafes, small shops, and everyday errands sets a calm, local rhythm. Mid-century ranches and traditional homes sit under tall firs, with pockets of newer infill along quieter lanes. Trails and open lawns at Gabriel Park shape daily routines, while nearby Tryon Creek State Natural Area adds a deep-woods backdrop. Community pillars include the Hillsdale Library, the historic Capitol Highway Theater, and the Hillsdale Farmers Market.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Dining
Bedrooms
Two bedrooms in each unit type
Bathrooms
Three bathrooms in each unit type
Kitchen
Dishwasher, range
Laundry & utility
Washer/dryer hookups
Heating & cooling
Heat pump heating
Heat pump and mini-split cooling
Exterior features
Level lot
Paved public road
Trees and woods view
Sidewalk
Home design
Multi-family property
Four units
Parking
On-street parking
Construction
New construction
Built in 2026
Board-and-batten, cement, and lap siding
Composition and metal roofs
Concrete perimeter and stem wall foundation
Utilities
Electricity
Public water
Public sewer
Financial info
Unit type 1: one unit, actual rent $2,400
Unit type 2: two units, actual rent $2,300 per unit
Unit type 3: one unit, actual rent $2,500
Cap rate: 5.23%
Gross rent multiplier: 14.17
Electricity and solar
View estimated energy costs and solar savings for this home
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Public record
Public record
Zoning
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Style
Multi-Family (2-4 Unit)
County
Multnomah County
APN
R301940
Parking Spaces
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Last updated by owner on Oct 27, 2026.
R5
Residential 5,000 zone
The single-dwelling zones are intended to preserve land for housing and to provide housing opportunities for individual households. The zones implement the comprehensive plan policies and designations for single-dwelling housing and provide options for infill housing that is compatible with the scale of the single-dwelling neighborhood.
Permitted uses
Include but are not limited to:
Housing-Single unit
Housing-Multiple units
Housing-Senior
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
2/10 Heat Factor
6 days above 91° expected this year, 11 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, 20 days in 30 years
Provided by First Street
Historical weather
Portland, OR • 97219
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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 9698 SW 54th Ave
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $759,000 and $950,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $759K to $950K.