Prime Investment Opportunity – Modern 7-Unit Walk-Up in the Reed NeighborhoodIntroducing a rare chance to own a newly constructed (2020) 7-unit apartment building in the highly desirable Reed neighborhood, just steps from Reed College. This turnkey asset combines contemporary design, a prime location, and strong financial performance, making it an ideal addition to any investor’s portfolio. Built in 2020, the property features energy-efficient systems, premium finishes, and low-maintenance construction, ensuring long-term durability and designed to offer spacious layouts . Situated within walking distance of Reed College and public transportation, the property benefits from consistent tenant demand and competitive rental income. With high occupancy rates this asset provides immediate cash flow and stable returns.Don’t miss this opportunity to secure a high-performing, low-maintenance property in one of the city’s most coveted neighborhoods.
Active
Price cut: $200K (3/3)
$2,349,950
2720 SE Steele St, Portland, OR 97202
12beds
6,560sqft
Est.:
Multi Family
Built in 2020
-- sqft lot
$2,245,100 Zestimate®
$358/sqft
$-- HOA
What's special
- 110 days
- on Zillow |
- 173 |
- 6 |
Zillow last checked: 7 hours ago
Listing updated: April 14, 2025 at 10:58am
Listed by:
Michael Smira neportland@johnlscott.com,
John L. Scott Portland Central,
Danny Sommers 626-824-7368,
John L. Scott Portland Central
Source: RMLS (OR),MLS#: 776111041

Travel times
Tour with a buyer’s agent
Tour with a buyer’s agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 12
- Bathrooms: 7
- Full bathrooms: 7
Heating
- Baseboard
Cooling
- Wall Unit(s)
Appliances
- Included: Refrigerator, Washer/Dryer, Tank Water Heater
Features
- Windows: Window Coverings
- Basement: None
Interior area
- Total structure area: 6,560
- Total interior livable area: 6,560 sqft
Property
Parking
- Total spaces: 6
- Parking features: Off Street, Secured
Accessibility
- Accessibility features: Handicap Access
Features
- Stories: 3
Lot
- Size: 3,920.4 Square Feet
- Dimensions: 3726
- Features: Corner Lot, Level, SqFt 3000 to 4999
Details
- Parcel number: R328313
- Zoning: CE
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Other, Panel
- Foundation: Slab
- Roof: Flat
Condition
- Existing
- Year built: 2020
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Connected
Community & HOA
Community
- Security: Entry, Fire Sprinkler System, Security Gate
- Subdivision: Reed/Woodstock
HOA
- Has HOA: No
Location
- Region: Portland
Financial & listing details
- Price per square foot: $358/sqft
- Annual tax amount: $15,391
- Date on market: 1/27/2025
- Listing terms: Call Listing Agent,Conventional,Other
- Total actual rent: 13134
- Road surface type: Concrete, Paved
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