Description

We are pleased to present this opportunity. The Yamhill is a 9-unit multifamily property for sale at 2167 Southwest Yamhill Street in Portland, OR. Its 1,158 SF average unit size gives an investor a residential offering centered on larger floor plans rather than a collection of small apartments.

Built in 1902, the Property comprises 10,422 SF on 0.11 acres and includes six three-bedroom units, two one-bedroom units, and one two-bedroom unit. Individual unit-level heating, electrical upgrades, and continued reinvestment through 2025 distinguish its operating profile from an untouched vintage building. Average rent is $1,866 per month, while the mix of unit sizes gives ownership several apartment formats within a single property.

The Yamhill sits in Portland’s Goose Hollow neighborhood, on the western edge of the downtown business district. Washington Park, Providence Park, Portland State University, the Portland Art Museum, and the Arlene Schnitzer Concert Hall give residents a range of destinations beyond the property. Blue and Red MAX service connects the neighborhood with other parts of the city and the suburbs. That combination of neighborhood destinations and transit access supports the appeal of the larger apartments.

The asking price is $1,925,000, or $184.65 PSF, with $126,170 in net operating income and a 6.55% cap rate. In-place rents of $16,793 compare with market rents of $19,500; stabilized net operating income is $154,121 at an 8.0% stabilized cap rate. For an investor, the distinction is clear: current income anchors the acquisition, while the rent comparison defines the operating opportunity without requiring a change in the Property’s unit mix.