Medea Apartments
1702-1712 SE Main St., Portland, OR 97214
8 units in SE Portland, OR
$1,250,000
Tucked away from the neighborhood’s primary commercial thoroughfares, the Medea provides a quieter residential environment while remaining conveniently positioned between the Hawthorne and Belmont corridors. Residents enjoy convenient access to the restaurants, cafés, shopping, services and entertainment that define the surrounding neighborhood, without being located directly along one of its busier commercial streets.
The Medea Apartments is an eight-unit apartment community located at 1702–1712 SE Main Street in Portland’s desirable Buckman neighborhood. Originally constructed in 1906, the property offers a distinctive combination of vintage character, an intimate residential setting and convenient access to the amenities of inner Southeast Portland.
Property Highlights
Rare 8-Unit Inner SE Portland Apartment Offering
Desirable Buckman Neighborhood – Close-in location conveniently positioned between the SE Hawthorne and SE Belmont commercial corridors.
Quiet Residential Setting – Tucked away from the neighborhood’s primary commercial thoroughfares, providing a quieter residential environment while remaining within convenient walking and biking distance of neighborhood amenities.
Rare Private Outdoor Space – Rear courtyard provides uncommon open space for a close-in apartment property, with potential for future enhancement as a resident amenity.
Three Private Garages – On-site garage spaces provide additional resident utility and income opportunity. Currently all leased.
Significant Capital Investment – Improvements include a new roof, electrical upgrades, exterior painting, new gutters, common-area improvements and replacement water heaters.
Stable In-Place Income with Future Growth Potential – Established operations with modest rental upside and additional opportunities to enhance property income and amenities.
Location Overview
The Medea Apartments is ideally located in Portland’s Buckman neighborhood, one of the city’s most established close-in residential areas. Positioned between the SE Hawthorne and SE Belmont commercial corridors, the property provides convenient access to an extensive collection of restaurants, cafés, neighborhood retailers, entertainment and everyday services.
One of the Medea’s distinguishing characteristics is its residential setting. The property is tucked away from the neighborhood’s primary commercial thoroughfares, providing residents with a quieter living environment while maintaining convenient walking and biking access to the surrounding amenities. The property's current management similarly emphasizes its location between Hawthorne and Belmont and its convenient walking and biking access to the surrounding neighborhood. The combination of mature landscaping, established residential streets and nearby commercial corridors provides the best of both worlds: the neighborhood feel of a residential setting coupled with the convenience and connectivity of close-in Portland.
For investors, this combination of location, residential character, walkability and established neighborhood amenities provides an enduring foundation for long-term renter demand.
The property features six one-bedroom apartments and two studio apartments. One-bedroom residences range from approximately 600 to 900 square feet, while the studios are approximately 400 square feet. Current scheduled rents provide stable in-place income with additional opportunity for rental growth over time.
The Medea further distinguishes itself through features that are increasingly uncommon for a close-in Portland apartment property of this size. A private rear courtyard provides rare open space within the surrounding urban neighborhood and offers future ownership the opportunity to create an enhanced outdoor resident amenity. Three private garages provide additional resident utility and income opportunity.
Current ownership has also invested significantly in the property and its major building systems. Improvements include electrical upgrades, replacement of select heating systems, a newer roof, exterior painting, replacement gutters, common-area improvements and two 75-gallon water heaters.
The Medea Apartments offers investors the opportunity to acquire a stabilized, well-located eight-unit apartment property with significant capital improvements already completed, in the popular Buckman neighborhood of SE Portland.
