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Listed by Keller Williams Realty Portland Premiere • 503-709-4632

$4,368,900

Est. payment - /mo

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9,970 SqFt

Price Dropped by $50K

8632 SW 21st AVE Portland, OR 97219

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Tommy Jedrzejczyk

tommy@tltre.com +1(503) 506-4646

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 9,970 sqft

Price per Sqft $438

Subdivision Markham

MLS Listing ID 258555663

Year Built 2026

Lot Size 7,405 Sqft

Property Description

New construction 11-unit condominium community located in Portland's desirable Markham neighborhood, offering investors a rare opportunity to acquire a modern, low-maintenance asset with immediate lease-up potential. All units are currently vacant and move-in ready, allowing for rapid tenant placement and quick income stabilization. Each well-designed unit ranges from approximately 905 to 908 square feet and features 2 bedrooms and 2.1 bathrooms, including dual en-suite bedrooms that support strong tenant demand and premium rents. The main living level offers an open great room layout anchored by a spacious kitchen island with eat bar, creating an efficient and highly rentable floor plan. Outdoor living is thoughtfully differentiated by building, with five units in the west building offering private decks off the living room slider, while six units in the east building include patio spaces accessed directly from the living room. Select street-facing units add further upside, including Unit 8610 #6 with a fenced yard space and Unit 8630 #1 featuring additional windows that enhance natural light throughout the home. Energy-efficient mini-split systems provide heating and cooling throughout, helping control operating costs, and all units include in-unit laundry located between the bedrooms. Built by a respected Street of Dreams builder known for high quality finishes and efficient use of space, this community benefits from durable construction and reduced near-term capital expenditure. The Markham location offers proximity to Gabriel Park, Multnomah Village shopping and dining, Barbur Boulevard transit access, and convenient routes to downtown Portland and major employment centers, supporting consistent rental demand. An ideal acquisition for investors seeking a turnkey, lease-ready asset with strong rentability, low maintenance, and long-term hold appeal in Southwest Portland.

Location

State OR

County Multnomah

Area _148

Zoning RM1

Rooms

Basement Crawl Space

Interior

Heating Mini Split

Cooling Heat Pump, Mini Split

Exterior

View Trees Woods

Roof Type Composition

Garage No

Building

Lot Description Gentle Sloping

Story 2

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public Water

Level or Stories 2

Schools

Elementary Schools Capitol Hill

Middle Schools Jackson

High Schools Ida B Wells

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Virtual Tour https://www.youtube.com/watch?v=oDXHag4cLrg

Regional Multiple Listing Service (RMLS)

NEARBY SCHOOL & BUSINESS

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