3246 SE 115th Ave

Portland, OR 97266

$5,983,900
Price
—
Beds
—
Baths
14,395 Sq. Ft.
$416 / Sq. Ft.
14,395
Sq. Ft.
$416
per Sq. Ft.
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Description

Rare opportunity to acquire a fully completed 16-unit cottage cluster at 3246 SE 115th Ave in Portland’s Powellhurst-Gilbert neighborhood, purpose-built for long-term rental performance. This detached home community offers immediate income potential, low ongoing maintenance, and strong appreciation fundamentals, making it a compelling addition to any portfolio. Each stand-alone home is individually metered with no shared walls, enhancing privacy and allowing clean utility cost pass-throughs. Energy-efficient...Rare opportunity to acquire a fully completed 16-unit cottage cluster at 3246 SE 115th Ave in Portland’s Powellhurst-Gilbert neighborhood, purpose-built for long-term rental performance. This detached home community offers immediate income potential, low ongoing maintenance, and strong appreciation fundamentals, making it a compelling addition to any portfolio. Each stand-alone home is individually metered with no shared walls, enhancing privacy and allowing clean utility cost pass-throughs. Energy-efficient mini-splits provide heating and cooling in every unit, helping control operating expenses and support tenant retention. Modern construction and systems reduce near-term capital expenditure needs compared to older vintage stock. Site features include five off-street parking spaces, private patios that boost livability and rentability, and layouts that appeal to a broad tenant base, from singles and couples to small households. Proximity to Fubonn Shopping Center, the Jade District, So Kong Dong Korean BBQ, Tik Tok Restaurant & Bar, Starbucks, local cafés, Raymond Park, Gilbert Heights Park, and Powell Butte Nature Park further supports strong, stable demand. Rental income is estimated based on local comps; buyer to perform due diligence to verify financials, rent projections, and any future assumptions. With full site control, no HOA complications, and middle housing of this scale increasingly rare under current zoning, this is a turnkey, low-maintenance multifamily asset in a high-demand SE Portland location.
  1. Listed by Darryl Bodle • Keller Williams Realty Portland Premiere • 503-709-4632
  2. Listed by Kelly Christian • Keller Williams Realty Portland Premiere

Property Details for 3246 Southeast 115th Avenue

Subdivision
Powellhurst-Gilbert
Parking Features
Open, Paved
Zoning
R5
View
Trees Woods
Garage Spaces
.00
Parking Total
5.00
LISTING UPDATED: 12/13/2025 12:22 AM

Property Details for 3246 Southeast 115th Avenue

StatusActive
MLS #543081098
Days on Market72
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family
Year Built2025
Lot Size0.90 AC / 39,204 SF
CountyMultnomah County

Location

Listing Courtesy of Keller Williams Realty Portland Premiere
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Building Information for 3246 Southeast 115th Avenue

Stories2Residences16Year Built2025Building Size-Lot Size0.90 AC / 39,204 SF

Payment Calculator

$29,569 per month

30 year fixed, 6.28% Interest

Principal and Interest

$29,569

Property Taxes

$0

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3246 Southeast 115th Avenue

Summary
Location and General Information
  • Country: US
  • Directions: SE 115th between Powell and Division
  • Road Surface: Paved
School Information
  • Elementary School: W Powellhurst
  • High School: David Douglas
  • Middle Or Junior School: Ron Russell
Taxes and HOA
  • Tax Annual Amount: $.00
  • Parcel Number: New Construction
  • Tax Legal Description: .
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Property
Lot Information
  • Acres: 0.9
  • Lot Description: Level
  • Lot Size Square Feet: 39204.0
  • Lot Size Dimension: 124.6x316.47
  • Lot Size Range: Sq Ft20000to Acres1
  • Lot Size: 20,000 Sq Ft to .99 Acres
Property and Assessments
  • Property Type: Multi Family
  • Water Description: Public Water
  • Property Condition: New Construction
  • Year Built: 2025
Utilities
  • Cooling Description: Mini Split
  • Fuel Description: Electricity
  • Heating Description: Mini Split
  • Hot Water Description: Electricity
  • Sewer Description: Public Sewer
  • Rent Includes: None
Interior and Exterior Features
Exterior Features
  • Exterior Description: Board Batten Siding, Cement Siding, Lap Siding
  • Roof Type: Composition
Interior Features
  • Basement: Crawl Space
  • Foundation Details: Concrete Perimeter
  • Stories: 2
Multi Family
Multi-Family Information
  • Number Of Units Total: 16
  • Gross Income Actual: $.00
  • Investor Information: Incomplete
  • Net Income Actual: $.00
  • Operating Expense: $.00
  • Storage: None
  • Unit Type Type: Unit Type Type1, Unit Type Type2
  • SqFt Approximate Building Total: 14395
Unit 1 Information
  • Unit Type 1 Baths Total: 3
  • Unit Type 1 Baths Decimal: 2.10
  • Unit Type 1 Beds Total: 2
  • Unit Type 1 Features: Air Conditioning, Dishwasher, Microwave, Washer Dryer Hookup
  • Unit Type 1 Rent: $2,000
  • Unit Type 1 SqFt: 862.0
  • Unit Type 1 Units Total: 7
Unit 2 Information
  • Unit Type 2 Baths Total: 3
  • Unit Type 2 Baths Decimal: 2.10
  • Unit Type 2 Beds Total: 3
  • Unit Type 2 Features: Air Conditioning, Dishwasher, Microwave, Washer Dryer Hookup
  • Unit Type 2 Rent: $2,400
  • Unit Type 2 SqFt: 929.0
  • Unit Type 2 Units Total: 9

Schools near 3246 Southeast 115th Avenue

This home is within David Douglas School District 40.
Rating
School
Type
Grades
Distance
West Powellhurst Elementary School
Public - PK to 5
Ron Russell Middle School
Public - 6 to 8
David Douglas High School
Public - 9 to 12
Arthur Academy
Charter - K to 5
Rating
School
Distance
West Powellhurst Elementary School
PublicPK to 5

Ron Russell Middle School
Public6 to 8

David Douglas High School
Public9 to 12

Arthur Academy
CharterK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 3246 Southeast 115th Avenue, Portland, OR 97266

3246 Southeast 115th Avenue is a multi-family home for sale in Portland, OR 97266. This property was listed for sale on October 2, 2025 by Keller Williams Realty Portland Premiere, it's currently listed at $5,983,900. This listing's school district is David Douglas School District 40. Nearby schools include West Powellhurst Elementary School, Ron Russell Middle School and David Douglas High School. 3246 Southeast 115th Avenue is a 0-bed, 0-bath, 14,395 sqft multi-family home built in 2025.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty Portland Premiere

All information provided is deemed reliable but is not guaranteed and should be independently verified. The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland Oregon. Real estate listings held by brokerage firms other than Compass are marked with the RMLS logo and detailed information about these properties includes the names of the listing brokers. Copyright © 2025 RMLS, Portland, Oregon. Last updated: 12/13/2025 12:22 AM