2938 NE 62nd AVE

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.