143rd apartments

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. 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.

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.