Gladstone Terrace
Multifamily | 14 Units | $146,429/unit
Marketing description
Gladstone Terrace Apartments is a 14-unit multifamily property located at 5625 SE Gladstone St in Portland, OR, within the Creston-Kenilworth neighborhood. Built in 1972, the property contains approximately 8,208 SF on an approximately 0.33-acre site. Built as a wood frame courtyard building with a pitched composite roof and a concrete perimeter crawlspace, current ownership has completed recent improvements which include all new plumbing in 2025 (Hello, insurance savings!), some electrical upgrades, newer cement board siding, vinyl windows, newer garbage enclosure, and new onsite laundry machines under a new contract. The building is awaiting a new owner to continue the improvements to the interior of the units and improve the returns accordingly. This well-kept gem offers tenants access to everyday amenities, off-street parking, and a community garden.
Investment highlights
• Plumbing: Fully Replaced
• Electrical: Grounding Improvements Completed (Early-Phase Work)
• Laundry: New Laundry Contract and Machines In-Place
• RUBS In-Place (Management Company Administers)
• On-site Laundry Room with Bike Storage
• Off-Street Parking (No Charge to Tenants)
• Garden Beds
• New Garbage Enclosure
• Walk-in Closets
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