13455 SE Oatfield Rd, Milwaukie, OR 97222
Local realty services provided by:Knipe Realty ERA Powered
13455 SE Oatfield Rd,Milwaukie, OR 97222
$4,850,000
- - Beds
- - Baths
- 27,650 sq. ft.
- Multi-family
- Active
Listed by: phillip barry
Office: barry investment real estate503-593-9707
MLS#:660527886
Source:PORTLAND
Price summary
- Price:$4,850,000
- Price per sq. ft.:$175.41
About this home
Driftwood Terrace Apartments is a 33-unit multifamily community located in the desirable Oak Grove / Milwaukie Heights area of Clackamas County. Constructed in 1965, the property features a low-density garden-style courtyard setting with mature landscaping and attractive grounds. The property offers a diverse unit mix consisting of studio, one-bedroom, two-bedroom, and three-bedroom apartment homes, with the majority of units comprised of spacious two-bedroom and three-bedroom floor plans.The property has benefited from significant capital investment during current ownership, including replacement of all roofs between 2016-2018, extensive deck reconstruction, stair and landing replacement, fencing improvements, and ongoing interior renovations. Ownership estimates that approximately 50% of the units have received varying levels of interior updates, creating an attractive balance between operational stability and future value-add potential through continued renovation and leasing of long-term residents upon turnover.Driftwood Terrace continues to benefit from strong occupancy and a stable long-term tenant base. Numerous residents have occupied the property for many years and remain below current market rents, providing investors with a clear path to future rental growth through annual rent increases and natural turnover.Located just minutes from the MAX Orange Line, Highway 99E, Downtown Milwaukie, and Downtown Portland, Driftwood Terrace offers investors the opportunity to acquire a well-maintained Clackamas County apartment community with durable physical improvements, strong transportation connectivity, and long-term rental upside....
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Home facts
- Year built:1965
- Listing ID #:660527886
- Added:92 day(s) ago
- Updated:September 23, 2026 at 11:55 AM
Rooms and interior
- Living area:27,650 sq. ft.
Structure and exterior
- Roof:Flat
- Year built:1965
- Building area:27,650 sq. ft.
- Lot area:2.1 Acres
- Lot Features:Level
- Levels:2 Stories
Schools
- High school:Putnam
- Middle school:Rowe
- Elementary school:Oak Grove
Utilities
- Water:Public Water
- Sewer:Public Sewer
Finances and disclosures
- Price:$4,850,000
- Price per sq. ft.:$175.41
- Tax amount:$40,412 (2025)
Parking
- Parking description:Off Street
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