Madrona Park — Sale in Portland, OR

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Portland, OR 97236

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Madrona Park — Sale in Portland, OR, photo 1 of 2
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Investment Figures

Cap rate
5.58%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Madrona Park Apartments is a seven (7)-unit, garden-style apartment community located in the Gresham-Centennial submarket of Portland. Built in 1976, the two-story, 5,600-square-foot property is comprised entirely of seven (7) two-bedroom, one-bath floorplans, offering a straightforward and efficient unit mix that appeals to a broad renter base. The two-bedroom units are currently achieving an average rent of $1,200 per month, while comparable units in the market average $1,450 per month based on your rent survey, representing nearly eighteen (18) percent upside on in-place rents through renovation and operational improvements. Madrona Park Apartments is well positioned in the Rockwood/Centennial area of East Portland, offering residents convenient access to both neighborhood amenities and regional transit connections. The property is located just off SE 174th Avenue, a key north-south corridor connecting to SE Stark Street and SE Division Street, where tenants benefit from a strong concentration of retail, grocery, dining, and everyday services. Nearby retail hubs such as Rockwood Plaza provide access to national tenants, fitness centers, and restaurants, supporting consistent renter demand. The area is well served by public transit, including nearby bus lines and proximity to the Rockwood Transit Center and MAX Blue Line, offering direct connectivity to Downtown Portland and broader east-west employment corridors. The surrounding neighborhood continues to see public investment, including infrastructure upgrades along SE 174th Avenue to improve walkability, safety, and access to schools, transit stops, and local businesses. Rockwood is an evolving submarket within East Portland, combining attainable housing, improving infrastructure, and strong commuter accessibility, making it attractive for renters seeking value with connectivity to the urban core. Madrona Park Apartments offers investors a rare opportunity to acquire a small-scale, well-maintained asset with sig

Market Context

This multifamily in Portland, OR is listed for sale. It is offered at an approximate 5.6% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Portland, OR — view the full market.

As of Q2 2026, the Portland multifamily market showed a 7.1% vacancy rate, average asking rents near $1750.00/unit/mo, and rents up 15.0% year over year. Source: multiple brokerage reports, Q2 2026.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

Is the Portland multifamily market tightening or softening?
Vacancy is around 7.1%, with asking rents rising year over year (Q2 2026).

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