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5811 SE Boise St
Portland, OR 97206 Creston-Kenilworth

$5,500,000 USD

Apartments For Sale  •  27,000 SF

Property Details

  • Property Type Apartments
  • Total Building Size 27,000 SF
  • Lot Size 0.2 AC
  • Building Class A
  • Year Built 2017
  • Cap Rate 5.50 %
  • Zoning CG
50 Transit Score
70 Walk Score

Highlights

Prime Inner SE Location: Highly walkable Creston-Kenilworth/Foster-Powell convergence featuring an exceptional 99 Bike Score and an 86 Walk Score.
Modern 2016 Build & Scale: Turnkey 30-unit asset (18 one-bedrooms, 12 studios) stabilized at 95.00% occupancy with minimal ongoing CapEx requirements.
Streamlined Operations & RUBS: Optimizes Net Operating Income by eliminating on-site management and recovering ~83% of utilities via ratio billing.
Premium In-Unit Amenities: Equipped with stacked laundry, individual heating/AC climate control, and an energy-efficient appliance package.
Ancillary Income & Low Turnover: Features 13 leasable storage units paired with a strong resident profile of 1+ year tenancies.
Anchored Higher-Ed Demand: Positioned close to Reed College and Warner Pacific College for a built-in student and faculty renter pool.

Property Flyers

Financial Summary (Actual)

Net Operating Income: $302,608 USD (2026)
Cap Rate: 5.50 %
Total Expenses: $152,383 USD

Amenities

  • Air Conditioning
  • Dishwasher
  • Washer/Dryer
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower
  • Bicycle Storage

Public Transportation

Commuter RailDriveWalkDistance
17 min - 5.6 mi
AirportDriveWalkDistance
Portland International 21 min - 10.4 mi
Mike Carlson 503-349-3499 Metric Real Asset Strategies Inc
Mike Carlson 503-349-3499 Metric Real Asset Strategies Inc