- For Sale $1,549,000
- Property Type Other
- Property Size 12 SF
- Lot Size 0.23 SF
- Year Built 1904
- Date Updated Nov 12, 2026
Description
The Drake Apartments presents the opportunity to acquire a well-maintained 12-unit historic multifamily community located in Portland's highly desirable Kings Hill/Goose Hollow neighborhood. Comprised of two vintage apartment buildings originally constructed in 1904, the property offers approximately 9,623 square feet of rentable area on a 0.23-acre site just west of Downtown Portland.
The property features a diverse mix of studio, one-, two-, and three-bedroom apartments averaging approximately 783 square feet. Many residences offer hardwood flooring, updated kitchens, oversized windows providing abundant natural light, and select private decks with downtown views.
Ideally positioned within walking distance of Washington Park, Providence Park, Zupan's Market, Downtown Portland, and MAX Light Rail and bus lines, The Drake offers residents an exceptional urban lifestyle with a Walk Score of 95. The combination of historic charm, strong in-place cash flow, and continued rental upside provides investors with an attractive value-add opportunity in one of Portland's most established neighborhoods.
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