2938 Ne 62nd Ave, Portland, OR 97213

• 7,179 sqft

Property Description

Located in Portland’s desirable Rose City Park neighborhood, this newly constructed 7 unit multifamily offering presents a rare opportunity to acquire a modern, low maintenance asset in a highly rentable close in NE location with a projected pro forma cap rate of 5.6% at stabilization. All units are vacant, complete, and ready for lease up, giving investors immediate control over tenant placement, rental positioning, and stabilization strategy. The offering includes seven townhouse style residences across two buildings totaling ~7,179 square feet, with three end units configured as 3 bedrooms and 2.1 bathrooms at ~1,177 square feet each, and four interior units configured as 2 bedrooms and 2.1 bathrooms at ~912 square feet each. In total, the portfolio offers 17 bedrooms, 14 full bathrooms, and 7 half bathrooms. Each residence includes private outdoor space and energy efficient mini split systems for year round heating and cooling. The property was designed and developed by a local boutique builder known for quality construction, high end finishes, extensive built ins, distinctive accent walls, and crown molding with integrated lighting throughout the units. Each home is thoughtfully designed with high ceilings on the main level, open great room layouts, upstairs laundry conveniently located near the bedrooms, and strong unit differentiation that supports long term tenant appeal. Interior unit bedrooms feature vaulted ceilings, enhancing the spacious feel, while end units benefit from larger private yards. The Rose City Park location further supports tenant retention with everyday convenience near NE Sandy Blvd, the Hollywood District, grocery options, cafés, restaurants, parks, bike routes, and transit access. Tenants can enjoy nearby coffee, dining, errands, greenspaces, and commuting options while still living in one of close in Portland’s most established and desirable residential neighborhoods.

Listing Status:

Active

Date Added:

February 26, 2026

Data Last Updated:

June 18, 2026 at 7:43AM

Listing Office:

Keller Williams Realty Portland Premiere : 503-597-2444

Listing Agent:

Darryl Bodle : 503-709-4632

MLS ID:

204317021

Interior

• Basement: Crawl space
• A/C: Heat pumpMini split
• Heating: Heat pumpMini splitWall heater

Exterior

• General: Board batten sidingCement sidingLap siding
• Parking: On streetParking spaces: 0

Construction

• Roofing: Composition
• General: Concrete perimeterStem wall

Location

• Road/Access: Paved
• Originating MLS: Regional Multiple Listing ServiceInc.
• County: Multnomah

Lot

• Zoning: R2.5TBDNew Construction
• View: View

Utilities

• Water: Public water
• Sewer: Public sewer

Financial

• Source: Regional Multiple Listing ServiceInc.