12231 SE Bush St, Portland, OR 97236

Portland
Local realty services provided by:ERA Freeman & Associates, Realtors
12231 SE Bush St,Portland, OR 97236
$2,750,000
  • - Beds
  • - Baths
  • 20,000 sq. ft.
  • Multi-family
  • Active
Listed by: jude soldati
Office: smi commercial real estate llc.503-390-6060
MLS#:746285608
Source:PORTLAND

Price summary

  • Price:$2,750,000
  • Price per sq. ft.:$137.5

About this home

12231 SE Bush Street, The Shire II, presents the opportunity to acquire a 2009 vintage apartment complex in Southeast Portland at the low cost basis of $137,500 per unit, or $138 per square foot. The property is a 20-unit apartment complex built in 2009, offering a uniform unit mix of large 2 Bed / 2 Bath apartments averaging approximately 1,000 square feet. The spacious floor plans, second bathrooms, and on-site parking provide a highly livable tenant experience and help support resident retention. Additionally, each unit includes a deck or patio space, storage, and in-unit washer and dryer. From a physical standpoint, the 2009 construction and copper plumbing materially reduce near-term capital exposure compared to older vintage assets.The asset offers investors a clear and straightforward value-add strategy to achieve over a 8.15% stabilized market cap rate and real value creation. With current rents well below market, natural rent increases and modest utility billbacks can...

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Home facts

  • Year built:2009
  • Listing ID #:746285608
  • Added:41 day(s) ago
  • Updated:October 27, 2026 at 12:53 PM

Rooms and interior

  • Living area:20,000 sq. ft.

Structure and exterior

  • Year built:2009
  • Building area:20,000 sq. ft.
  • Lot area:0.41 Acres
  • Levels:4 or More Stories

Schools

  • High school:David Douglas
  • Middle school:Alice Ott
  • Elementary school:Gilbert Hts

Utilities

  • Water:Public Water
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$2,750,000
  • Price per sq. ft.:$137.5
  • Tax amount:$31,230 (2025)

Parking

  • Parking description:Off Street
MLS LogoAll 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 ERA Freeman & Associates, Realtors are marked with the RMLS logo and detailed information about these properties includes the names of the listing brokers. Copyright 2026 RMLS, Portland, Oregon. Last updated: October 27, 2026

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