Listing provided courtesy of Keller Williams Realty Portland Premiere- MLS# 745845628MLS ProviderContact Information: 503-704-0919

5587 NE 7th AVEPortland, OR 97211

Multi-Family · 0.10 Acres
$3,280,000 Active

5587 NE 7th AVE Overview

Time on Site:
22 days
Visits:
0

A new-construction investment opportunity in one of Northeast Portland's most desirable rental corridors, this 2026-built eight-plex sits just blocks from Alberta Park, Woodlawn City Park, and Ainsworth ' an A+ location that consistently draws strong tenant demand. All eight units are three-level townhomes with two bedrooms and two and a half bathrooms. Interiors are finished to a high standard throughout. Kitchens feature premium appliances, tasteful tile work, and modern cabinetry, while bathrooms carry through with clean, well-considered design. LVP flooring runs throughout the living spaces, and tall ceilings paired with generous windows make each unit feel open, light-filled, and private. The result is a turnkey product that should command strong market rents and minimize early-years maintenance and capital expense. The corner-lot positioning is a meaningful advantage, allowing each unit to have its own private deck or yard space ' a feature that supports tenant retention and helps the property stand out among nearby rentals. For investors looking to add a low-maintenance, new-construction asset to a Portland rental portfolio, this eight-plex offers a strong combination of location, quality, and design. Call to arrange a private tour or request additional financials.

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5587 NE 7th AVE Facts & Features

  • Type Multi-Family
  • Lot 0.10 Acres

Details

General

School Information

  • Elementary School: MartinL King Jr
  • Middle Or Junior School: Harriet Tubman
  • High School: Jefferson

Income/Expenses

  • Gross Income: 230006.0
  • Net Operating Income: 182950.0
  • Operating Expense: 47056.0

Building Information

  • Year Built: 2026

Location/Region

  • Country: US
  • County Or Parish: Multnomah
  • MLS Area Major: 142 - Portland Northeast

Rent/Lease Information

  • Rent Includes: None

Tax Information

  • Tax Annual Amount: 1742.26
  • Tax Year: 2025

General Information

  • Listing Terms: Call Listing Agent,Cash,Conventional
  • Parcel Number: R136595
  • Property Condition: New Construction
  • Property Type: Multi Family
  • Zoning: CM2

Interior

General Information

  • Basement: Crawl Space
  • Cooling: Mini Split
  • Foundation Details: Concrete Perimeter
  • Heating: Mini Split,Wall Heater
  • Stories: 3

Exterior

Parking Information

  • Parking Features: On Street

Lot Information

  • Lot Features: Corner Lot,Level
  • Lot Size Acres: 0.1
  • Lot Size Dimensions: 47.82X100
  • Lot Size Square Feet: 4356.0
  • Road Surface Type: Paved
  • Water Source: Public Water

Building Exterior/Construction

  • Roof: Shingle

General Information

  • Number Of Units Total: 8
  • Sewer: Public Sewer

5587 NE 7th AVE Neighborhood

Community

97211 (Portland) Demographics

36
Median Age
3,858
Population Density (per sq. mile)
62%
College Educated
$86,976
Estimated Median Income
9,252
Estimated Total Home Owners
5,084
Estimated Total Renters
65% / 35%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

5587 NE 7th AVE Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

5587 NE 7th AVE Market Data

Based on the last 30 days in this zip code

$598,788
Average List Price
$307
Average Price per Square Foot
44
Properties Sold
74
Average Days on Market
118
Properties for Sale
Calculations provided by Reliance Network

5587 NE 7th AVE History

Date Event Value Agent
6/8/2026Source: Regional MLS Added to Database
June 08, 2026