The Carolyn
Multifamily | 6.51% CAP
Marketing description
Downtown is minutes away by foot, bike, or car via the Hawthorne, Morrison, and Burnside Bridges, with rapid access to I-5 and I-84 for regional commuters and MAX light rail just across the river. A Walk Score of 96 (Walker's Paradise) and Bike Score of 97 (Biker's Paradise) place the address among the most walkable and bikeable in the Pacific Northwest.
Investment highlights
Charming, fully restored 6-unit building in Portland's Buckman neighborhood, between the popular Belmont and Hawthorne shops and restaurants. Walk Score 96 (Walker's Paradise) & Bike Score 97 (Biker's Paradise). 2018 studs-out remodel included electrical wiring and panels, water lines, water heaters, doors, bathrooms, common area, washer/dryer/storage room, and kitchens with new cabinets, quartz countertops, and stainless appliances. New roof in 2020; common-area windows in 2021. Unit mix: three 1BD/1BA, one 2BD/1BA, and two upstairs studios sharing one bath — currently 100% occupied. A prime close-in investment opportunity to acquire a turn-key, well-performing asset in one of Portland's strongest submarkets. Current gross monthly income: $8,015 base rent + $75 pet rent, with 2025 utility reimbursements averaging ~$536/month.
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