Duplexes on 119th — Sale in Portland, OR

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Portland, OR 97266

Photos

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Investment Figures

Cap rate
7.12%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of Duplexes on 119th, a six unit townhouse style multifamily property located at 3540 SE 119th Avenue in Portland, Oregon. Constructed in 2006, the property features a desirable and consistent unit mix comprised entirely of two bedroom, one and a half bath townhome layouts. This newer vintage remains attractive to both residents and investors, as modern building systems and materials can reduce near term capital needs relative to older Portland housing stock, supporting more predictable ownership. The property benefits from enduring renter demand for privacy, separation, and a residential living experience. Duplexes on 119th is configured with paired townhome layouts that limit shared walls compared to stacked apartment product, creating a more home like environment. Private exterior entrances and a low density site plan further support tenant satisfaction and retention while minimizing common area maintenance. Each unit features a functional two level layout that separates living and sleeping areas, in unit washer dryer hookups, and a design profile that continues to perform well in the Southeast Portland rental market. The property also offers dedicated on site storage, a meaningful amenity for townhome renters seeking additional space. From an investment standpoint, the asset offers a clear value add opportunity. In place rents are approximately six percent below market, providing immediate upside through mark to market adjustments. Additional rent growth can be achieved through targeted interior upgrades such as luxury vinyl plank flooring and updated finishes. Located in Southeast Portland’s Powellhurst Gilbert area, the property provides convenient access to transportation corridors, neighborhood retail, and daily services, supporting stable and long term tenant demand. Investment Highlights: • 2006-Built Six-Unit Townhome Asset Located in Southeast Portland's Powellhurst-Gil

Market Context

This multifamily in Portland, OR is listed for sale. It is offered at an approximate 7.1% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Portland, OR — view the full market.

As of Q2 2026, the Portland multifamily market showed a 7.1% vacancy rate, average asking rents near $1750.00/unit/mo, and rents up 15.0% year over year. Source: multiple brokerage reports, Q2 2026.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

Is the Portland multifamily market tightening or softening?
Vacancy is around 7.1%, with asking rents rising year over year (Q2 2026).

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