5587 NE 7th Ave, Portland, OR 97211

$3,280,000

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Property Description

A new-construction investment opportunity in one of Northeast Portland's most desirable rental corridors, this 2026-built eight-plex sits just blocks from Alberta Park, Woodlawn City Park, and Ainsworth - an A+ location that consistently draws strong tenant demand. All eight units are three-level townhomes with two bedrooms and two and a half bathrooms. Interiors are finished to a high standard throughout. Kitchens feature premium appliances, tasteful tile work, and modern cabinetry, while bathrooms carry through with clean, well-considered design. LVP flooring runs throughout the living spaces, and tall ceilings paired with generous windows make each unit feel open, light-filled, and private. The result is a turnkey product that should command strong market rents and minimize early-years maintenance and capital expense. The corner-lot positioning is a meaningful advantage, allowing each unit to have its own private deck or yard space - a feature that supports tenant retention and helps the property stand out among nearby rentals. For investors looking to add a low-maintenance, new-construction asset to a Portland rental portfolio, this eight-plex offers a strong combination of location, quality, and design. Call to arrange a private tour or request additional financials.

5587 NE 7th Ave | MLS# 745845628

This multi-family property located at 5587 NE 7th Ave, Portland, OR 97211 is currently listed for sale with an asking price of $3,280,000. Search Portland real estate on drueripp.bendpremierrealestate.com today.

Property Features

Property Type: Multi Unit - Multiple
Basement: CrawlSpace
Cooling: MiniSplit
Fuel Type: Electricity
Heating: Mini Split, WallHeater
Lot Size: 0.11 Acres
Roof Type: Shingle
Stories: 3.0
Taxes: $1,742
Year Built: 2026

Units

Unit Type 1:
Bathroom(s): 3
Bedrooms: 2
Features: AirConditioning, Deck, Range, Refrigerator
Rent: $2395.00
Square Footage: 827
Total Units: 8

Feature Descriptions

Days on Site: 29
Exterior: Cement Siding
Gross Income: $230006.00 (Actual)
Hot Water: Electricity
Lot: Corner Lot, Level
Lot Dimensions: 47.82X100
Net Income: $182950.00 (Actual)
Operating Expenses: $47056.00 (Actual)
Parking: OnStreet
Parking Notes: OnStreet
Sewer: Public Sewer
Units: 8
Water: Public Water

Local Schools

High School: Jefferson
Middle School: Harriet Tubman
Elementary School: MartinL King Jr

Listed By / Shown By

Listed By

Agency Name: Keller Williams Realty Portland Premiere
Agency Contact: 503-704-0919

Shown By

Agent Name: Drue Ripp, Broker
Agent Phone: Cell: (541) 668-0339
Agency Title: Bend Premier Real Estate

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Estimated Payment

$ 17,687.30 per month $16,585.46 Principal & Interest $145.17 Property Tax $956.67 Homeowner's Insurance

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