The Orlo presents a compelling multifamily investment opportunity in one of Portland’s most desirable inner NE neighborhoods. Priced at $5,930,000 ($156,000 per unit) and offering a 5.5% cap rate, this 38-unit garden court-style community combines in-place stability with significant value-add upside.

Approximately 60% of the units remain in “classic” condition, offering a clear path for future interior renovations and rent growth. In 2023, the property benefitted from over $684,000 in capital improvements, including a new roof, fresh exterior paint and repairs, and select interior unit upgrades, allowing a new owner to continue the repositioning effort with minimal deferred maintenance.

Situated just steps from the vibrant Hollywood District, The Orlo enjoys excellent walkability to shopping, dining, and entertainment—anchored by the Historic Hollywood Theater. Additionally, the property is located near Providence Portland Medical Center, one of the area’s largest employers, supporting strong tenant demand and occupancy stability.

With its strategic location, recent capital investment, and clear value-add potential, The Orlo offers investors a rare opportunity to acquire a well-maintained asset in a high-demand rental market with room for future growth.