4350 SE Milwaukie Ave, Portland, OR 97202

PROPERTY WEBSITE: https://www.marcusmillichap.com/properties/190806/milwaukie-avenue-mixeduse

The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of 4346-4350 SE Milwaukie Ave, a mixed-use opportunity in Portland’s dynamic Brooklyn neighborhood. The property offers a rare combination of immediate rental income and long-term upside. The property’s six-unit residential component—five 1-bedroom/1-bath and one 2-bedroom/1-bath unit—is fully occupied, generating steady cash flow with defendable upside of 11+%. Recent capital improvements include a full exterior repaint in October 2025, enhancing curb appeal and tenant attraction/retention.

Brooklyn’s proximity to inner Southeast Portland neighborhoods, including Hawthorne and Sellwood/Moreland, ensures access to a growing base of young professionals and renters seeking convenient transit, nearby shops, and amenities, supporting stable long-term occupancy and rent growth.

The ground-floor space, formerly a laundromat (retired during Covid) that consistently grossed around $2,000 per month, presents an excellent opportunity to diversify income or re-lease to a complementary retail tenant. Existing appliances—four each newer washers/dryers plus two each that need minor repairs—could allow the space to be reactivated quickly or repurposed with minimal capital. Its separate exterior entrance preserves flexibility for retail or service use without disturbing upstairs tenants. With both resilient residential cash flow and redevelopment potential in a neighborhood poised for continued appreciation, this property offers investors a balanced combination of income stability and upside potential.