SE 130th Apartments + SFR
1401 SE 130th Ave., Portland, OR 97233
8 units in SE Portland
$1,625,000
The property includes seven spacious 2-bedroom/1-bath apartment units averaging approximately 950 square feet, along with a separately situated 2,600 square foot 3-bedroom/2-bath single-family residence featuring a full basement and private fenced backyard. The diverse unit mix provides investors with an appealing blend of apartment and residential-style living environments that are increasingly difficult to replicate in today’s development environment.
SE 130th Avenue Apartments is a unique 8-unit multifamily investment opportunity located in Portland’s Mill Park neighborhood of SE Portland. Situated on approximately 0.77 acres, the property offers a low-density residential setting consisting of a diverse mix of duplexes, a triplex, and a freestanding single-family home, creating an attractive alternative to traditional apartment product in the East Portland market.
Property Highlights
Unique low-density 8-unit multifamily community situated on approximately 0.77 acres
Diverse unit mix including a rare remodeled 2,600 SF single-family residence
Seven spacious 2-bedroom apartment units averaging approximately 950 SF
Strong amenity package including air conditioning, in-unit laundry, private patio areas, and dedicated parking
Ductless mini-split heating & air conditioning systems in all apartment units
Beautifully landscaped grounds with serene residential setting and strong curb appeal
Bright interiors with functional layouts and strong natural light
Private patio and backyard areas throughout the property
Extensive renovations completed at the freestanding house
Stable long-term tenancy history with historically low turnover
Utility billback program in place.
Convenient access to I-205, Division Street, shopping, schools, parks, and public transportation
Location Overview
The property benefits from convenient access to SE Division Street, SE 122nd Avenue, I-205, public transportation, shopping amenities, and the broader East Portland employment corridor. Directly across the street from the property are the David Douglas Community Garden and David Douglas High School, creating an attractive neighborhood setting with strong long-term housing demand fundamentals.
The apartment units feature an attractive amenity package including private enclosed patio areas, in-unit washer/dryer hookups with owner-provided appliances, ductless mini-split heating and air conditioning systems, insulated vinyl windows, and upgraded luxury vinyl plank flooring throughout many of the interiors. The spacious floorplans offer bright living areas with strong natural light and functional layouts designed for comfortable day-to-day living. The combination of larger unit sizes, air conditioning, private outdoor spaces, and in-unit laundry amenities has contributed to strong tenant demand and long-term resident retention.
The freestanding home has undergone extensive renovations, including a full interior remodel completed in 2022 featuring updated flooring, refinished hardwood floors, new kitchen appliances, masonry waterproofing improvements, a newer roof installed in 2021, updated gas furnace in 2019, and a new gas fireplace insert.
Apartments & Property
Capital Improvements
Sewer line improvements and major tree root remediation completed in 2023
Gutter replacement completed in 2019
Luxury vinyl plank flooring upgrades completed throughout apartment units between 2016–2024
Insulated vinyl window upgrades completed throughout the property
Sliding patio door upgrades completed
Additional insulation and energy-efficiency improvements completed through Energy Trust of Oregon programs
Ductless mini-split heating & air conditioning systems installed in apartment units
Washer/dryer hookups with owner-provided appliances throughout all apartment units
House
Capital Improvements
Full interior remodel completed in 2022
Roof replacement completed in 2021
Updated gas furnace installed in 2019
New gas fireplace insert installed
Updated flooring throughout portions of the home
Refinished hardwood flooring completed
New kitchen appliances installed
Masonry waterproofing improvements completed
Private fenced backyard and full basement configuration provide strong single-family home functionality
Current ownership has completed meaningful capital improvements throughout the property over time, including sewer line improvements with major tree root remediation completed in 2023, gutter replacement in 2019, and extensive flooring upgrades across the apartment units between 2016 and 2024. The property also benefits from Energy Trust of Oregon efficiency upgrades including insulated vinyl windows, sliding patio doors, and additional insulation improvements.
Operationally, the property has demonstrated consistent historical income growth while maintaining low turnover and strong long-term tenancy stability. Current ownership recently implemented a utility billback program, creating additional reimbursement income and operational upside moving forward.
One of the property’s most attractive features is its serene residential setting and beautifully landscaped grounds. The site layout creates a more private and neighborhood-oriented living environment compared to traditional apartment communities, with mature landscaping, open space, and private outdoor areas contributing to strong resident appeal. Owner-provided landscaping and the well-maintained exterior further enhance the property’s curb appeal and overall resident experience.