Eastwood Estates - 19109-19123 SE Yamhill St
Eastwood Estates | 21-Unit Multifamily Investment in Portland's Eastside Rockwood Submarket
Marketing description
Eastwood Estates presents an attractive multifamily investment opportunity in the heart of Gresham's established Rockwood submarket. This 21-unit apartment community is situated on approximately 1.14 acres and offers investors a well-maintained asset with stable occupancy, convenient access to public transportation, and proximity to major employment and retail corridors throughout East Multnomah County.
Originally constructed in 1978 and renovated in 2003, the property consists of a single two-story wood-frame building encompassing approximately 13,152 square feet. The community features a highly desirable unit mix of twenty 1-bedroom apartments and one 2-bedroom apartment, with average unit sizes of approximately 620 square feet. Tenant amenities include private balconies, heating, refrigerators, and ranges, while the property provides 32 surface parking spaces, equating to approximately 1.52 spaces per unit.
Strategically located near SE Burnside Street and major commuter routes, Eastwood Estates benefits from excellent transportation access, including walkable proximity to the Ruby Junction/E 197th MAX Station and the Rockwood/E 188th Transit Center. The surrounding area supports a strong renter population, with renter-occupied households comprising nearly 58% of households within a one-mile radius, reinforcing long-term rental demand fundamentals.
Positioned within one of Portland's most accessible eastside submarkets, Eastwood Estates offers investors the opportunity to acquire a stabilized multifamily asset with strong occupancy, efficient operations, and continued upside potential within a supply-constrained rental market.
Investment highlights
Value-Add Lease-Up Opportunity
Currently operating at approximately 81% occupancy, Eastwood Estates offers investors immediate upside through the lease-up of vacant units, creating the opportunity to increase revenue and enhance overall asset performance.
Transit-Oriented Eastside Location
Situated within walking distance of the Ruby Junction MAX Station and Rockwood Transit Center, the property provides residents with convenient access to downtown Portland, regional employment centers, and major transportation corridors.
Strong Rental Demand Fundamentals
Located in a renter-dominated submarket with nearly 58% renter occupancy within a one-mile radius, Eastwood Estates benefits from established housing demand and favorable long-term multifamily fundamentals.
Attractive Rent Growth Potential
The property's current rental income presents a clear path toward increased cash flow through market-supported rent adjustments, positioning investors to capture meaningful revenue growth over time.
Location Highlights
MAX Light Rail Access
Just a 7-minute walk to the Ruby Junction/E 197th MAX Station and 11 minutes from the Rockwood/E 188th Transit Center, providing convenient access throughout the Portland metro area.
Strong Renter Demand
Approximately 57.57% of households within a one-mile radius are renter occupied, supporting long-term multifamily demand fundamentals.
Regional Connectivity
Positioned near SE Burnside Street and SE 193rd Avenue with convenient access to major commuter routes serving Portland, Gresham, and East Multnomah County.
Established Residential Neighborhood
Situated within a mature residential corridor surrounded by parks, schools, and neighborhood amenities that support long-term residential appeal.
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