Powell Heights & Powell Place
3320 & 3240-3254 SE 90th Pl, Portland, OR 97266
29 units in SE Portland
$5,995,000
Property Highlights
Fully stabilized 29-unit portfolio in Southeast Portland
Combination of new construction and extensively renovated apartments.
Diverse unit mix of studio, 1BR, and 2BR units, providing various floor plan offerings
Modern high-end finishes with in-unit washer & dryers in all units
Shared off-street parking lot offering operational efficiency and low-density appeal
Additional detached building with storage and bike parking
Prime walkable location near schools, shopping, dining, parks, and transit
Strong tenant retention potential with modern layouts and amenities, unique to the neighborhood
Attractive investment opportunity with fully leased units and minimal deferred maintenance
Powell Heights & Powell Place Apartments are a 29-unit, fully stabilized multifamily investment comprised of two adjacent properties in a highly desirable Southeast Portland neighborhood.
The portfolio includes Powell Heights (21 units) and Powell Place (8 units), together offering a rare opportunity to acquire scale with operational efficiency in a low-density setting.
Powell Heights – 21 units
NEW CONSTRUCTION (2025)
Brand-new, modern construction with strong lease-up
Contemporary kitchens with stainless-steel appliances, microwave, dishwasher, and quartz countertops
Hardwood-style flooring and modern fixtures throughout
In-unit washer & dryer in every apartment
Energy-efficient appliances and fixtures
Assigned off-street parking and shared lot
Bike storage
Pet-friendly units
Powell Place – 8 units
CAPITAL IMPROVEMENTS
(1973 year built, Fully Renovated)
New Windows
New Siding (partial)
New Roof
New Sewer line
New Electrical systems
New Heating
Plumbing replaced as needed
Washer/Dryer in unit w/ new appliances
Fully new Parking lot Asphalt
Landscaping / Courtyard
Insulation
Kitchens, bathrooms, all interior finishes and Hardware
New LVT flooring throughout
New Gutters
Fencing / Gates
New Stainless-Steel Appliances
Secure Trash enclosure
Situated on nearly one acre and sharing a common parking lot, the properties benefit from strong tenant appeal, efficient management, and a serene residential environment. The portfolio features a diverse mix of studio, one-bedroom, and two-bedroom apartments, supporting consistent demand and strong rental performance.
Powell Heights, representing 72% of the units, is brand-new construction (2025), while Powell Place, a 1973 vintage asset, has been fully renovated and has demonstrated a proven track record of achieving top-of-market rents.
Together, the assets deliver a compelling blend of modern new-construction product and a renovated, lower-density vintage community – the combination of both provides the ability to offer parking, storage, and larger unit sizes—a truly unique offering for new construction - creating a best-in-class living experience that is truly unique in the neighborhood.
KEY FEATURES & AMENETIES
Modern, energy-efficient appliances in all units
Hardwood-style flooring & quartz countertops
Washer & dryer in-unit
Assigned off-street parking & shared lot
Pet-friendly
Smart lock entry
Bike storage
Private patios, decks & backyards
Location Overview
SOUTHEAST PORTLAND
Powell Heights & Powell Place are located in the Powell Hurst-Gilbert neighborhood of Southeast Portland, adjacent to the emerging Foster-Powell area. This primarily residential submarket is experiencing steady reinvestment and new multifamily development.
The neighborhood features a mix of single-family homes and multifamily communities, offering a quiet residential setting with convenient access to major commercial corridors. Renters are attracted to modern housing at a relative value compared to Portland’s urban core, with limited nearby high-end competition providing a unique living experience.
Residents enjoy nearby shopping, dining, and essential services. Eastport Plaza, a major Southeast Portland retail center, provides grocery, retail, and service options, while additional amenities along SE Powell Boulevard include restaurants, cafés, and daily conveniences.
The area also offers outdoor recreation, including Powell Butte Nature Park with extensive trails and open green space. Combined with neighborhood parks and quiet residential streets, the community supports an active lifestyle. Continued investment, a diverse population, and a community-oriented atmosphere make Powell Hurst-Gilbert a durable rental submarket capable of supporting modern multifamily housing, as evidenced by recent strong lease-up performance.