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Listed by Township Properties Real Estate LLC
$ 1,075,000
Est. payment | /mo
4,552 SqFt
$ 1,075,000
Est. payment | /mo
4,552 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,552 sqft
Price per Sqft $236
Subdivision Sullivan'S Gulch
MLS Listing ID 234723779
HOA Y/N No
Year Built 1975
Annual Tax Amount $16,932
Tax Year 2024
Lot Size 5,227 Sqft
Property Description
Originally a tri-plex, this property was thoughtfully converted into a four-plex in 2023 with a $109,000 capital investment—adding an additional income-generating unit and enhancing the building's long-term value. The new unit is fully permitted & is 100% code-compliant. It includes a sprinkler system, enhancing both safety and peace of mind. Ideally situated in the highly sought-after Sullivan's Gulch neighborhood, just south of NE Broadway's coffee shops, restaurants, boutiques, and light rail, this four-unit property combines strong rental income with an unbeatable location. With reliable renters & a proven income record, this is a rare opportunity to own a stable, low-maintenance investment in one of Portland's most desirable close-in locations. At a 5.26% cap rate & 11.26 GRM, this property provides steady cash flow from day one. With current market rents & historically low turnover, investors can expect consistent returns & long-term value growth. Please do not disturb tenants.
Location
State OR
County Multnomah
Community Alllandscaping
Area _142
Zoning R2.5
Rooms
Basement Daylight, Finished
Interior
Heating Baseboard
Exterior
Community Features AllLandscaping
Roof Type Composition
Garage No
Building
Lot Description Level
Story 3
Sewer Public Sewer
Water Public Water
Level or Stories 3
Schools
Elementary Schools Irvington
Middle Schools Harriet Tubman
High Schools Grant
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
