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Listed by Cascade Hasson Sotheby's International Realty
$ 899,000
Est. payment | /mo
4,348 SqFt
$ 899,000
Est. payment | /mo
4,348 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,348 sqft
Price per Sqft $206
Subdivision Sellwood - Moreland
MLS Listing ID 126667965
HOA Y/N No
Year Built 1907
Annual Tax Amount $8,633
Tax Year 2025
Lot Size 5,227 Sqft
Property Description
Excellent investment opportunity in the heart of Sellwood-Westmoreland. This 6-unit property is offered at $899,000, or approximately $150,000 per unit, with a documented 2025 NOI of $51,324 and a 5.71% cap rate at list price. The unit mix includes two 2-bedroom/1-bath units and four 1-bedroom/1-bath units, with professional property management currently in place. The building offers shared laundry, basement storage, newer plumbing, and a level lot in one of Southeast Portland's most desirable rental locations. Just blocks from the shops, restaurants and neighborhood amenities along SE 13th, with convenient access to transit, parks and the Springwater Corridor. Current rents provide additional upside as leases turn over, while the existing income offers investors an established operating history. A compelling opportunity to acquire a close-in Portland multifamily asset with six units, strong rental demand and long-term income potential.
Location
State OR
County Multnomah
Community Laundry
Area _143
Zoning R5
Rooms
Basement Storage Space
Interior
Heating Wall Furnace
Exterior
Community Features Laundry
Roof Type Composition
Garage No
Building
Lot Description Level
Story 3
Foundation Concrete Perimeter, Slab
Sewer Public Sewer
Water Public Water
Level or Stories 3
Schools
Elementary Schools Llewellyn
Middle Schools Sellwood
High Schools Cleveland
Others
Acceptable Financing CallListingAgent, Cash, Conventional
Listing Terms CallListingAgent, Cash, Conventional
