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Listed by Redfin
$ 1,019,000
Est. payment | /mo
3,309 SqFt
$ 1,019,000
Est. payment | /mo
3,309 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,309 sqft
Price per Sqft $307
Subdivision Sellwood-Moreland
MLS Listing ID 389001689
Year Built 1909
Annual Tax Amount $11,512
Tax Year 2025
Lot Size 10,018 Sqft
Property Description
Rare Sellwood/Moreland 5-Plex with Value-Add and Development Potential.Exceptional opportunity in the highly sought-after Sellwood/Moreland neighborhood—just minutes from parks, schools, shops, and public transit. This well-located 5-plex offers multiple paths for income growth and future development.One unit is currently vacant and being renovated, allowing a new owner the flexibility to occupy the unit or lease it at full market rent. The unfinished basement offers additional upside, with a layout suitable for conversion into a 6th unit (see floor plan in photos)—potentially increasing total annual rental income by over 22%.Situated on a spacious lot with RM1 zoning, the property provides development opportunities to add up to 10 additional units (buyer to verify). The exterior was freshly painted in August, and the low-maintenance yard features open grassy areas for tenants to enjoy outdoor activities.This property presents multiple avenues for value-add improvements, increased cash flow, and long-term development potential in one of Portland's most desirable rental markets.Please do not disturb tenants. All offers subject to interior inspection.
Location
State OR
County Multnomah
Area _143
Zoning R2
Rooms
Basement Full Basement, Storage Space, Unfinished
Interior
Heating Wall Furnace
Exterior
Roof Type Composition
Garage No
Building
Lot Description Corner Lot, Level
Story 2
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Duniway
Middle Schools Sellwood
High Schools Cleveland
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
