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Listed by Berkshire Hathaway HomeServices NW Real Estate
$1,550,000
Est. payment /mo
3 Beds
2 Baths
New
5496 SE Boise ST Portland, OR 97206
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Boise Cottages
MLS Listing ID 442548308
Bedrooms 3
Year Built 2025
Annual Tax Amount $1
Property Description
Turnkey New Construction Opportunity – Earth Advantage Platinum | SE PDX. 3 separate detached units, packaged together. 3 bed | 2 Bath units. Acquire a high-performance, design-forward rental asset in the heart of Foster-Powell. Boise Cottages features all-electric, Earth Advantage Platinum certified homes (HES 10, Net Zero Ready, Solar Ready) designed for long-term durability, low operating costs and strong tenant appeal. Each detached residence offers 3 bedrooms + loft/office and 2 full baths—an ideal layout for today's renters seeking flexible living and remote work space. Premium finishes include Bosch appliances, induction cooktop, quartz countertops and modern cabinetry. Private outdoor spaces, dedicated yards and a shared courtyard enhance livability and leasing appeal. Built with high-performance windows, heat pump HVAC, energy-efficient systems, advanced air sealing and whole-house ERV ventilation—supporting reduced utility costs, improved tenant retention and minimized capital expenditures. Detached cottage configuration provides a competitive advantage over traditional townhomes, offering privacy and design differentiation in a supply-constrained submarket. Street parking only aligns with neighborhood norms while lowering maintenance obligations. This turnkey portfolio supports multiple strategies including long or mid-term hold or alternative rental approaches such as furnished or Padsplit, subject to buyer verification. Strong location with Walk Score 90 and Bike Score 99, minutes to shops, theater, Carts on Foster, Kern Park, pubs and transit. Pro forma rents estimated at $2,700–$3,000/unit (used $2,850 avg). Estimated NOI $71K with cap rate 4.18% and upside to 4.5% at stabilization. 15-year new construction rent control exemption. Portfolio opportunity available (3 units) 5496/5494/5484 SE Boise St. Buyer to perform all due diligence regarding rental income and financial performance. Open House Saturday 12-3pm, or by appointment. [Home Energy Score = 10. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10232521]
Location
State OR
County Multnomah
Area _143
Zoning R5
Rooms
Basement None
Interior
Heating Heat Pump
Cooling Heat Pump
Exterior
Roof Type Composition
Garage No
Building
Lot Description Level
Story 2
Foundation Slab
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Creston
Middle Schools Kellogg
High Schools Franklin
Others
Acceptable Financing Cash, Contract, Conventional, FHA, LeaseOption, VALoan
Listing Terms Cash, Contract, Conventional, FHA, LeaseOption, VALoan
