New Construction 4-Plex Across From Peninsula Park
New construction 4-plex directly across from 16-acre Peninsula Park with projected 6% cap rate
Marketing description
Positioned directly across from 16-acre Peninsula Park, this new North Portland 4-plex offers a rare park front setting unlike anything else in Portland. Tucked beneath tall trees along N Rosa Parks Way, Peninsula Park is a Piedmont gem and community oasis full of history, emerald lawns, year round beauty, and numerous recreation options. Designed and developed by a local boutique builder renowned for their accent walls, extensive built-ins and integrated lighting throughout, this property combines thoughtful design and efficient layouts in an iconic park front setting. The property includes two spacious 3 bedroom, 2½ bathroom front homes and two 2 bedroom, 2½ bathroom rear homes. Each home opens to a great room style main level with tall ceilings, solid surface counters, stainless steel appliances, extensive custom cabinetry, efficient mini splits for year round heating and cooling, and a convenient half bath. Upstairs, vaulted ceilings add to the spacious feel and natural light, with laundry thoughtfully located between bedrooms. The front 3 bedroom homes offer exceptionally large front yards rarely seen with new construction homes in Portland, while the back two homes offer fenced yard spaces and off street parking. Across the street, the city’s first public rose garden sits below street level, creating a secluded feeling in the city, with 5,000 rose plants across about 60 varieties and year round beauty. The park also includes the city’s first community center, a historically designated bandstand, Portland’s second oldest playground, picnic lawns, splash pad, heated outdoor pool, sports courts, fields, paved paths, and open green space. Nearby Piedmont, Mississippi, Williams, Killingsworth, and Interstate amenities add coffee, dining, shops, transit, and convenience. With four new construction homes, a special park front setting, and flexible use for investors, owner occupants, or multigenerational living, this 4-plex delivers lasting appeal in North Portland.
Investment highlights
• New construction 4-plex directly across from 16-acre Peninsula Park
• Four townhome style homes totaling ~3,936 SF of residential living area
• Projected gross scheduled rent of $10,980/mo, or $131,760/year
• Unit mix: two 3 bed / 2½ bath homes and two 2 bed / 2½ bath homes
• Rare park front setting in the Piedmont neighborhood
• Front homes include exceptionally large front yards for Portland new construction
• Rear homes include fenced yard spaces and off street parking with direct access to homes
• Efficient mini splits provide year round heating and cooling
• Strong renter appeal near Piedmont, Mississippi, Williams, Killingsworth, and Interstate amenities
• Flexible use for investors, owner occupants, or multigenerational living
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