The Spring flood of 1948 didn’t seem to affect the area near the west end of the Sellwood Bridge much. The Staff Jennings boat sales building seems to have some water infiltration but most developed areas here are above the water line.
(City of Portland Archives)
Vintage Portland 
I grew up in this area. It’s great to see how little has changed…until the new bridge construction. The bridge should be open again today! Can’t tell for sure but it looks like a group of houses are flooded in the upper middle of photo.
Staff Jennings is long gone due to the new bridge.
If you click on the large size and look in the upper left it looks like that is a few cars ( 4) from a train in front of thta building on Macadam. Not on the tracks in the rear of the building but in the front. A siding?
@Mike. Besides the old Southern Pacific Railroad Jefferson Line that runs to the rear of the buildings but there was also the United Railroad line that ran along next to Macadam…
Note spelling.
Here is a picture of the East side of the bridge taken 3 days before from the label on the picture. Sellwood misspelled the same was as the picture above.
https://vintageportland.wordpress.com/2011/05/26/east-end-sellwood-bridge-1948/