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Listed by Keller Williams Realty Portland Premiere • 503-709-4632
$ 4,368,900
Est. payment /mo
Price Dropped by $50K
8632 SW 21st AVE Portland, OR 97219
9,970 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,970 sqft
Price per Sqft $438
Subdivision Markham
MLS Listing ID 258555663
Year Built 2026
Lot Size 7,405 Sqft
Property Description
New construction 11-unit condominium community located in Portland's desirable Markham neighborhood, offering investors a rare opportunity to acquire a modern, low-maintenance asset with immediate lease-up potential. All units are currently vacant and move-in ready, allowing for rapid tenant placement and quick income stabilization. Each well-designed unit ranges from approximately 905 to 908 square feet and features 2 bedrooms and 2.1 bathrooms, including dual en-suite bedrooms that support strong tenant demand and premium rents. The main living level offers an open great room layout anchored by a spacious kitchen island with eat bar, creating an efficient and highly rentable floor plan. Outdoor living is thoughtfully differentiated by building, with five units in the west building offering private decks off the living room slider, while six units in the east building include patio spaces accessed directly from the living room. Select street-facing units add further upside, including Unit 8610 #6 with a fenced yard space and Unit 8630 #1 featuring additional windows that enhance natural light throughout the home. Energy-efficient mini-split systems provide heating and cooling throughout, helping control operating costs, and all units include in-unit laundry located between the bedrooms. Built by a respected Street of Dreams builder known for high quality finishes and efficient use of space, this community benefits from durable construction and reduced near-term capital expenditure. The Markham location offers proximity to Gabriel Park, Multnomah Village shopping and dining, Barbur Boulevard transit access, and convenient routes to downtown Portland and major employment centers, supporting consistent rental demand. An ideal acquisition for investors seeking a turnkey, lease-ready asset with strong rentability, low maintenance, and long-term hold appeal in Southwest Portland.
Location
State OR
County Multnomah
Area _148
Zoning RM1
Rooms
Basement Crawl Space
Interior
Heating Mini Split
Cooling Heat Pump, Mini Split
Exterior
View Trees Woods
Roof Type Composition
Garage No
Building
Lot Description Gentle Sloping
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Capitol Hill
Middle Schools Jackson
High Schools Ida B Wells
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://www.youtube.com/watch?v=oDXHag4cLrg
