REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Berkshire Hathaway HomeServices NW Real Estate
$ 1,575,000
Est. payment /mo
Open Sun 12PM-3PM
5498 SE Boise ST Portland, OR 97206
3 Beds
2 Baths
Open House
Sat Oct 31, 12:00pm - 3:00pm
Sun Nov 01, 12:00pm - 3:00pm
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Boise Cottages
MLS Listing ID 260763519
Bedrooms 3
HOA Y/N No
Year Built 2025
Annual Tax Amount $1
Tax Year 2025
Property Description
Turnkey New Construction Investment Opportunity – Earth Advantage Platinum | SE Portland. 3 separate 3 bed units. Rare opportunity to acquire a high-performance, design-forward rental asset in the heart of Foster-Powell. Boise Cottages features all-electric, Earth Advantage Platinum certified homes (HES 10, Net Zero Ready, Solar Ready) designed for long-term durability, low operating costs and strong tenant appeal. Each detached residence offers 1,359 sq ft with 3 bedrooms + loft/office and 2 full baths—an ideal layout for today's renters seeking flexible living and remote work space. Premium finishes include Bosch appliances, induction cooktop, quartz countertops and modern cabinetry. Private outdoor spaces, dedicated yards and a shared courtyard enhance livability and leasing appeal. Built with high-performance windows, heat pump HVAC, energy-efficient systems, advanced air sealing and whole-house ERV ventilation—supporting reduced utility costs, improved tenant retention and minimized capital expenditures. Detached cottage configuration provides a competitive advantage over traditional townhomes, offering privacy and design differentiation in a supply-constrained submarket. Street parking only aligns with neighborhood norms while lowering maintenance obligations. This turnkey portfolio supports multiple strategies including long or mid-term hold or alternative rental approaches such as furnished or Padsplit, subject to buyer verification. Strong location with Walk Score 90 and Bike Score 99, minutes to shops, theater, Carts on Foster, Kern Park, pubs and transit. Pro forma rents estimated at $2,700–$3,000/unit (used $2,850 avg). Estimated NOI $71K with cap rate 4.18% and upside to 4.5% at stabilization. 15-year new construction rent control exemption. Portfolio opportunity available (3 units) 5498/5488/5484 SE Boise St. Buyer to perform all due diligence regarding rental income and financial performance. Open Houses Saturday and Sunday 12-3pm, or by appointment.
Location
State OR
County Multnomah
Area _143
Zoning R5
Rooms
Basement None
Interior
Heating Heat Pump
Cooling Heat Pump
Exterior
Roof Type Composition
Garage No
Building
Lot Description Level
Story 2
Foundation Slab
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Creston
Middle Schools Kellogg
High Schools Franklin
Others
Acceptable Financing Cash, Contract, Conventional, FHA, LeaseOption, VALoan
Listing Terms Cash, Contract, Conventional, FHA, LeaseOption, VALoan
Virtual Tour https://my.matterport.com/show/?m=jfqHqwPxR1W&mls=1
NEARBY SCHOOLS & PROPERTIES
GET MORE INFORMATION
QUICK SEARCH
- New Homes
- Condos for Sale
- Duplexes and MultiFamily
- Acreage Estate Homes
- Homes For Sale in Salem, OR
- Homes for Sale in Downtown Salem
- Homes for Sale in Keizer, OR
- Homes for Sale in 97303
- Home for Sale in 97306
- Home for Sale in 97302
- Home for Sale in 97304
- Priced $200,000-250,000
- Priced $250,000-300,000
- Priced $350,000-400,000
- Priced from $400,000-500,000
- Priced from $500,000-$750,000
- Priced $1,000,000
- Home for Sale in Englewood
- Homes for sale near Bush Park
- Home for Sale in Fairmount Hills
- Home for Sale in Highland
- Home for Sale in Woodscape
- Home for Sale in Illahe Hills Country Club
- Home for Sale in McNary Estates
- Home for Sale in Creekside Golf Club
- Home for Sale in Salemtowne Golf Club
- Home for Sale in Meadowlawn