Investment Overview

120 SE 143rd is a 12-unit, low-rise apartment community located in the Gateway submarket of Portland, Oregon. Built in 2001, this three-story building totals 14,400 square feet and is comprised of twelve (12) three-bedroom, three-bath floorplans, offering highly functional layouts well-suited for families and roommate households. Uniquely, the offering also includes two single-family houses on adjacent parcels—one (1) three-bedroom, one-bath home and one (1) two-bedroom, one-bath home—both of which could be sold separately in the future, providing an additional exit and value-creation option for the next owner. Each unit features washer/dryer hookups, and the property includes private off-street parking, a security system, a dog park, and generous greenspace, making the community appealing to long-term tenants, families, and groups. The three-bedroom units are currently achieving an average rent of $1,762 per month, while comparable units in the market average $1,926 per month, representing approximately 9 percent upside on in-place rents in their current condition. 120 SE 143rd is conveniently located in Portland’s Gateway submarket, providing residents with quick access to a broad range of employment, shopping, and entertainment options throughout the eastside and downtown core. The property is within easy reach of major thoroughfares and transit, allowing tenants to commute to Downtown Portland, the Portland waterfront, and the Portland International Airport in roughly 20 minutes, depending on traffic. The surrounding neighborhood offers everyday conveniences such as grocery stores, neighborhood retail, restaurants, schools, and parks, supporting demand from renters seeking both accessibility and livability. Gateway’s position as a key eastside hub—with connections to freeways and transit lines—makes this location especially attractive for residents who work across different parts of the metro area but prefer more space and value than inner-core neighborhoods typically provide. This three-story, 2001 construction asset combines modern-vintage building quality with large, functional three-bedroom floorplans and rare supplemental value through two separately parceled single-family homes. The property’s amenities, ample parking, security features, and greenspace help attract and retain stable, long-term tenancy, while current rents sit below market, offering clear, measurable upside through thoughtful rent optimization and light improvements. With its close-in eastside location, flexible exit strategies, and built-in rent growth potential, 120 SE 143rd is a compelling value-add opportunity for a savvy investor seeking both durable cash flow and multiple paths to long-term upside in the Portland multifamily market.