13455 Se OATFIELD Rd, Milwaukie, OR 97222

• 27,650 sqft

Property Description

Driftwood Terrace Apartments is a 33-unit multifamily community located in the desirable Oak Grove / Milwaukie Heights area of Clackamas County. Constructed in 1965, the property features a low-density garden-style courtyard setting with mature landscaping and attractive grounds. The property offers a diverse unit mix consisting of studio, one-bedroom, two-bedroom, and three-bedroom apartment homes, with the majority of units comprised of spacious two-bedroom and three-bedroom floor plans.The property has benefited from significant capital investment during current ownership, including replacement of all roofs between 2016-2018, extensive deck reconstruction, stair and landing replacement, fencing improvements, and ongoing interior renovations. Ownership estimates that approximately 50% of the units have received varying levels of interior updates, creating an attractive balance between operational stability and future value-add potential through continued renovation and leasing of long-term residents upon turnover.Driftwood Terrace continues to benefit from strong occupancy and a stable long-term tenant base. Numerous residents have occupied the property for many years and remain below current market rents, providing investors with a clear path to future rental growth through annual rent increases and natural turnover.Located just minutes from the MAX Orange Line, Highway 99E, Downtown Milwaukie, and Downtown Portland, Driftwood Terrace offers investors the opportunity to acquire a well-maintained Clackamas County apartment community with durable physical improvements, strong transportation connectivity, and long-term rental upside.

Listing Status:

Active

Date Added:

June 22, 2026

Data Last Updated:

August 6, 2026 at 1:40AM

Listing Office:

Barry Investment Real Estate : 503-593-9707

Listing Agent:

Phillip Barry : 503-593-9707

MLS ID:

660527886

Interior

• A/C: None
• Heating: Wall heater

Exterior

• General: Spray foam insulation
• Parking: Off street

Construction

• Roofing: Flat

Location

• Road/Access: Paved
• Originating MLS: Regional Multiple Listing ServiceInc.
• County: Clackamas

Lot

• Zoning: MR1SECTION 01 TOWNSHIP 2S RANGE 1E QUARTER CA TAX LOT 0010000171192

Utilities

• Water: Public water
• Sewer: Public sewer

Financial

• Source: Regional Multiple Listing ServiceInc.