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Listed by ELEETE Real Estate
$ 400,000
Est. payment | /mo
2,596 SqFt
$ 400,000
Est. payment | /mo
2,596 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,596 sqft
Price per Sqft $154
Subdivision Sullivan'S Gulch
MLS Listing ID 369599158
HOA Y/N No
Year Built 1980
Annual Tax Amount $6,773
Tax Year 2025
Lot Size 3,920 Sqft
Property Description
Charming NE Portland duplex in the heart of the Multnomah/Lloyd District, offering both steady cash flow and an easy place to call home. Two spacious 3-bed/2-bath townhome-style units (approx. 1,200 sq. ft. each) feature in-unit washer/dryer, dishwasher, full kitchens, and functional layouts that live like single-family homes. Six off-street paved parking spaces and a level 3,924 sq. ft. R2.5 lot provide rare convenience and future flexibility in a close-in location.Investors will appreciate the 100% occupancy, stable tenant base, and “as-is” leased fee valuation of $400,000, supported by professional appraisal, in a submarket with strong incomes and ongoing demand for multifamily housing. With no known deferred major capital items and average overall condition, this is a straightforward hold with room to push rents over time.Owner-occupants and house-hackers can live in one 3-bedroom unit and offset expenses with rent from the other, all while enjoying quick access to I-84, TriMet, Lloyd Center, Fred Meyer, Providence Medical Center, and downtown Portland. The walkable, amenity-rich neighborhood, city utilities, and legal conforming zoning that allows duplex, triplex, fourplex, and multi-dwelling structures make this a rare opportunity to own versatile housing in a prime close-in location.
Location
State OR
County Multnomah
Area _142
Zoning R2.5
Rooms
Basement Crawl Space
Interior
Heating Baseboard
Cooling Window Unit
Exterior
View Territorial
Roof Type Composition,Shingle
Garage No
Building
Lot Description Level
Story 2
Foundation Slab
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Irvington
Middle Schools Harriet Tubman
High Schools Jefferson
Others
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
