Investment Overview

Madrona Park Apartments is a seven (7)-unit, garden-style apartment community located in the Gresham-Centennial submarket of Portland. Built in 1976, the two-story, 5,600-square-foot property is comprised entirely of seven (7) two-bedroom, one-bath floorplans, offering a straightforward and efficient unit mix that appeals to a broad renter base. The two-bedroom units are currently achieving an average rent of $1,200 per month, while comparable units in the market average $1,450 per month based on your rent survey, representing nearly eighteen (18) percent upside on in-place rents through renovation and operational improvements. Madrona Park Apartments is well positioned in the Rockwood/Centennial area of East Portland, offering residents convenient access to both neighborhood amenities and regional transit connections. The property is located just off SE 174th Avenue, a key north-south corridor connecting to SE Stark Street and SE Division Street, where tenants benefit from a strong concentration of retail, grocery, dining, and everyday services. Nearby retail hubs such as Rockwood Plaza provide access to national tenants, fitness centers, and restaurants, supporting consistent renter demand. The area is well served by public transit, including nearby bus lines and proximity to the Rockwood Transit Center and MAX Blue Line, offering direct connectivity to Downtown Portland and broader east-west employment corridors. The surrounding neighborhood continues to see public investment, including infrastructure upgrades along SE 174th Avenue to improve walkability, safety, and access to schools, transit stops, and local businesses. Rockwood is an evolving submarket within East Portland, combining attainable housing, improving infrastructure, and strong commuter accessibility, making it attractive for renters seeking value with connectivity to the urban core. Madrona Park Apartments offers investors a rare opportunity to acquire a small-scale, well-maintained asset with significant rent-growth potential and a clear value-add strategy. Its simple two-bedroom unit mix, 1970s construction, and manageable size allow for efficient operations, while the nearly eighteen (18) percent rental upside provides a compelling path to meaningful income growth. Located within close proximity to regional transit, retail corridors, and Downtown Portland, Madrona Park stands out as an attractive investment for buyers seeking a high-upside, approachable value-add opportunity with strong long-term fundamentals.