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Listed by Kevin Morris Realty
$ 799,000
Est. payment | /mo
2,485 SqFt
$ 799,000
Est. payment | /mo
2,485 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,485 sqft
Price per Sqft $321
MLS Listing ID 741838046
Year Built 1951
Annual Tax Amount $5,077
Tax Year 2025
Lot Size 0.340 Acres
Property Description
*Don't Walk the Property* Cap rate is 6.2% with current rental income. Recent remodeling includes all new water and sewer line, new tankless water heaters, new electrical panels. Exceptional investment and development opportunity in the heart of Cedar Mill! This remodeled duplex features two spacious 3-bedroom, 1-bath units, offering strong rental appeal in a highly desirable location. A detached shop provides additional income and yard care, currently leased for $600/month. Situated on a generous, multi-family zoned lot, the property offers significant upside with the potential to add approximately five additional units while retaining the existing improvements, or redevelop the site for an estimated 9–12 unit project (buyer to complete all due diligence with Washington County). Minutes to Nike, Intel, downtown Portland, shopping, restaurants, parks, and public transit, this is a rare opportunity to own a cash-flowing asset with outstanding future development potential.
Location
State OR
County Washington
Area _149
Zoning R24-40
Interior
Heating Forced Air
Exterior
Roof Type Composition
Garage No
Building
Lot Description Level
Story 1
Sewer Public Sewer
Water Public Water
Level or Stories 1
Schools
Elementary Schools Bonny Slope
Middle Schools Cedar Park
High Schools Sunset
Others
Acceptable Financing Cash, Conventional, FHA, VALoan
Listing Terms Cash, Conventional, FHA, VALoan
