8801-8823 Edison StPortland, OR 97203

This well-maintained 12-unit apartment building, located at 8801-8823 N Edison St, Portland, OR 97203, presents a compelling investment opportunity. Built in 1973, the property boasts 10,680 square feet on a 0.23-acre lot and features spacious two- and three-bedroom apartments. Currently offering below-market rents in the desirable St. Johns neighborhood, this property is primed for value-add improvements. Many units retain classic finishes, making them ideal for upgrades such as new flooring, cabinetry, countertops, and appliances. The building includes seven parking spaces and is situated in a neighborhood setting, just blocks from Cathedral Park and minutes from the amenities of central St. Johns. The asking price is $2,495,000, representing a price per square foot of $238 and a 5.41% cap rate. The property consists of one three-story building and includes attractive assumable debt, though new financing is also a possibility. The Multnomah County APN is R191906. This is a rare opportunity to acquire a multifamily property with significant upside potential in a thriving Portland neighborhood.