5170 SE 28th AVE Portland, OR $ 3,599,900
5170 SE 28th AVE
$ 3,599,900
New Construction
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5170 SE 28th AVE

Portland, OR, 97202
$ 3,599,900
Bedrooms10 Baths15.0 Sq 8,706

Monthly Estimate*

$ 22,165

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Multi-Family Home for sale in Portland, OR

for $3,599,900 with 10 bedrooms and 15 full baths. This 8,706 square foot home was built in 2025 on a lot size of 0.21.

Nestled in the phenomenal Reed neighborhood with an impressive 88 BikeScore, this ten unit community is just steps from Reed College, making it the perfect choice for student housing or traditional rental housing with its sensational, multifaceted SE PDX location. With restaurants, parks, and the stunning Crystal Springs Rhododendron Garden nearby, it offers both convenience and charm. Step inside, and your future tenant will instantly feel the warmth and character. The open-concept design seamlessly connects the kitchens to the dining and living areas, where dramatic accent walls with built-ins and soft ambient lighting creates a stylish and inviting atmosphere. On the lower levels are guest baths dressed in moody tones and elegant tile work—because the smallest details greatly affect your return on investment. Upstairs, primary suites and spacious secondary bedrooms shine with perimeter lighting, soaring ceilings, and oversized windows that flood the bedrooms with natural light. Step outside to private, fenced yards, where cozy patios await for morning coffee or evening gatherings. With Reed College just around the corner and the vibrant neighborhoods of Woodstock, Brooklyn and Westmoreland less than a mile away,this location is perfectly situated for both relaxation, adventure and low vacancy rates. Between low maintenance costs due to the quality, new construction and a one-year builders warranty, you can rest assured your investment is safe. For investors exploring short-term rentals, each unit has the potential to gross as much as $5,000 per month, offering significant income upside in this high-demand area.

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Multi-Family Active

Price

$ 3,599,900

Bedrooms

10

Full Bath

15

Property Type

Multi-Family

Taxes

$ 0

Style

Lot Size

0.21

Year Built

2025

Town/City

Portland

County/Region

Multnomah

MLS | Web ID

572806520

Features
General
Sewer PublicSewer
Heating MiniSplit
Cooling MiniSplit
Roof Composition
Zoning RM1
Year Built 2025
Stories Count 2
Parcel Number New Construction
Gross Income 0
County Multnomah
Net Operating Income 0
Operating Expense 0
Property Type MultiFamily
HOA N
Subdivision Name Reed
Rent Includes None
Status Active
Directions SE 28th N of Steele
High School Cleveland
City Portland
Number Of Units Total 10
MLS Area _143
Lot Size Square Feet 9147.0
Listing Terms Cash Conventional
Elementary School Grout
Tax Annual Amount 0
Middle/Junior High School Hosford
Property Condition NewConstruction
Virtual Tour https://youtu.be/-aQC82wHapY?feature=shared
Standard Status Active
Accessory Dwelling Unit Y/N N
Legal Description TBD
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Interior
Basement CrawlSpace
Hot Water Electricity
Unit 1 Baths Total 3
Unit 1 Beds Total 2
Unit 2 Baths Total 3
Unit 2 Beds Total 2
Unit 3 Baths Total 3
Unit 3 Beds Total 2
Unit 4 Baths Total 3
Unit 4 Beds Total 2
Unit 5 Beds Total 2
Unit Type UnitTypeType1 UnitTypeType2 UnitTypeType3 UnitTypeType4 UnitTypeType5
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Exterior
Water Source PublicWater
Exterior Description CementSiding
Foundation Details ConcretePerimeter
Building Area Total 8706.0
Lot Size Acres 0.21
Road Surface Type Paved
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Internal Only
Street Number 1 5170
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* Excluded Features
List By
Keller Williams Realty Portland Premiere

Broker

503-709-4632

Contact

Affordability Calculator

$22,165
Per Month
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Monthly Principal & Interest
$22,165
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Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
1949298 Elementary School
1950530 Middle School
Cleveland High School High School
Pricing History
DatePricePrice ChangeDescription
12/2/2025$3,599,900 -1.37% Price Down
11/4/2025$3,649,900 -6.41% Price Down
4/10/2025$3,899,900 Listed Price

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5170 SE 28th AVE, Portland, OR, 97202 is a Multi-Family Home for sale at $3,599,900 with 8,706 sqft and a lot size of 0.21. 5170 SE 28th AVE has 10 bedrooms, 15.0 baths, and was built in 2025. The property's zip code is 97202 which is in Portland, OR