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5587 NE 7th AVE

Portland, OR 97211
Active
Multifamily
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$3,280,000
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… Read MoreRead Less
Listing courtesy of Keller Williams Realty Portland Premiere.
Listing Snapshot
Days Online
1
Last Updated
Lot Size
0.1 Acres
Year Built
2026
MLS Number
745845628
30 Days Snapshot Of 97211
$688k
+2%
(avg) sold price
37
+23%
homes sold
42
-4%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Road Surface Type: Paved
Basement
Basement: CrawlSpace
Building
Built in 2026, Stories: 3, Unit Type Type: UnitTypeType1
Cooling
Cooling: MiniSplit
Expenses
Operating Expense: $47,056
Exterior Features
Exterior Description: CementSiding
Foundation
Foundation Details: ConcretePerimeter
Heating
Heating: MiniSplit, WallHeater
Income
CAP Rate: 5.58, Gross Income: $230,006, Gross Rent Multiplier: 14.26, Net Operating Income: $182,950
Lot
Features: CornerLot, Level, Size Acres: 0.1, Size Dimensions: 47.82X100, Size Range: SqFt3000to4999, Size Square Feet: 4,356, Size: 3,000 to 4,999 SqFt
Miscellaneous
Investor Information: AccordingToOwner
Parking
Features: OnStreet
Property
Number Of Units Total: 8, Property Condition: NewConstruction, Zoning: CM2
Roof
Roof: Shingle
Sewer
Sewer: PublicSewer
Taxes
Annual Amount: $1,742, Legal Description, Tax Year: 2025
Unit One
Actual Rent: $2,395, Area: 827, Features: AirConditioning, Deck, Range, Refrigerator, Units Total: 8, 3 total bathrooms, 2 total bedroom
Utilities
Fuel Description: Electricity, Hot Water Description: Electricity, Water Source: PublicWater
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Erika George and Kari McGee
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Schools In The Area

Check out nearby schools with ratings and contact info.
Dr. Martin Luther King Jr. Elementary School 503-916-6456 Public PK-5
Harriet Tubman Middle School 503-916-5630 Public 6-8
Jefferson High School 503-916-5180 Public 9-12
Dr. Martin Luther King Jr. Elementary School 503-916-6456 Public PK-5
Dr. Martin Luther King Jr. Elementary School 503-916-6456 Public PK-5
Harriet Tubman Middle School 503-916-5630 Public 6-8
Jefferson High School 503-916-5180 Public 9-12
Grant High School 503-916-5160 Public 9-12

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This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.