19609 Marine DrPortland, OR 97230

This exceptional 62-unit marina on the Columbia River in Portland, Oregon, presents a compelling investment opportunity. Boasting 74,400 square feet on a 15.98-acre lot, this single-story, 1990-built property features 112 parking spaces and a 7.01% cap rate, generating a substantial NOI of $469,431. The property includes 62 floating home sites, with long-term homeowners ensuring high occupancy and minimal turnover. A recent 10% rent increase, implemented in March 2024, further enhances profitability. The marina benefits from a private boat ramp, secured parking and access, and trailer parking, along with recent capital improvements including a new public water line and fire hydrant. Its prime location near shopping, major employers, freeway access, and parks adds to its appeal. The property is a certified clean marina by the State of Oregon. Significant upside potential exists through the expansion of approximately 16 additional home sites on the undeveloped 3+ river acres, conversion of seasonal boat slips into additional home sites, or the implementation of a homeowner's association ownership format. This is a rare chance to acquire a stable, high-performing asset with considerable growth prospects in a desirable location. The asking price is $6,700,000, with a price per unit of $108,064.52 and a price per square foot of $90.05. The property is zoned LDR-5 (Low Density Residential - 5).