- ADDRESS:
- 612 E BURNSIDE ST Portland, OR 97214
- VIDEOS:
- Print this Listing
- Price:
- $2,350,000
- Ft²:
- 6939
- MLS#:
- 123387279
- Lot Size:
- 0K to 2,999 SqFt
- Zone:
- Multi
- County:
- Multnomah
- Style:
- 3 Stories
- Yr Built:
- 1913
- Status:
- Active
- Levels:
- 3
- Heat:
- Forced Air
- Roof:
- Flat
- Area:
- Portland Southeast
- Courtesy of:
- Windermere Realty Trust
- Remarks:
- Mattsonian Apartments is a boutique mixed-use apartment property located along East Burnside Street, one of Portland’s most prominent and highly trafficked urban corridors. The three-story building consists of 10 efficiently designed studio apartments above a ground-floor retail space, offering investors a compelling blend of residential and commercial income in a dense, transit-oriented location. Originally constructed in 1913, the property benefits from historic character and irreplaceable urban positioning, while providing functional layouts well suited to todays renter-by-necessity demographic. The residential units average approximately 500 square feet and appeal to tenants seeking affordable housing options near employment centers, transit, and downtown Portland amenities. The asset features multiple income streams, including stabilized residential rents, a ground-floor retail tenant (a tea house), and billboard income with strong visibility along East Burnside Street. This diversified revenue profile enhances income stability and reduces reliance on any single source of cash flow. Additionally, RUBS billing recovers a meaningful portion of utility expenses, contributing to operational efficiency. With in-place cash flow and demonstrated rental upside, Mattsonian Apartments presents an opportunity to acquire a well-located urban asset supported by durable demand drivers, diversified income sources, and long-term investment stability.