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Nathan Stancil

nathan@exploreoregonhomes.com +1(503) 621-4693

Listed by ELEETE Real Estate

$ 1,150,000

Est. payment | -/mo

5,760 SqFt

Save

$ 1,150,000

Est. payment | -/mo

Save

5,760 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,760 sqft

Price per Sqft $199

Subdivision Richmond

MLS Listing ID 526215412

HOA Y/N No

Year Built 1972

Annual Tax Amount $16,017

Tax Year 2025

Lot Size 0.340 Acres

Property Description

Rare six-unit plex in inner Southeast Portland, consisting of three side-by-side duplex buildings on a 15,000 SF lot. Each 2-bed/1-bath garden-style flat is approximately 960 SF and lives larger than typical SE rentals, with in-unit washer/dryers, dishwashers, full appliance packages, and off-street parking including three attached garage spaces plus three paved driveway spaces.For investors, the property is 100% occupied with a long-standing tenant base, professional management, and stabilized income in the Southeast Portland submarket. Current scheduled rents (with increases set for August 2026) and recent financials show strong cash flow and an appraised “Market Value As Is” of $1,150,000 ($192,000 per unit), supported by both income and sales comparison approaches. Zoning R2.5 allows duplex, triplex, fourplex and other multi-dwelling structures, offering long-term flexibility in a dense, walkable neighborhood.For residential or “house-hack” buyers, Carolina offers the chance to live in one spacious 2-bed unit and offset housing costs with steady income from the other five units. Residents enjoy a quiet, tree-lined street near SE Division, SE 50th and SE Hawthorne, with quick access to TriMet, neighborhood cafes, Safeway, Eastport Plaza, and Providence Portland Medical Center—making this both a comfortable place to call home and a durable, income-producing asset in one of Portland's most desirable close-in eastside locations.

Location

State OR

County Multnomah

Area _143

Zoning R25

Rooms

Basement Crawl Space

Interior

Heating Baseboard

Cooling None

Exterior

Garage Spaces 3.0

View Territorial

Roof Type Shingle

Garage No

Building

Lot Description Level

Story 1

Foundation Slab

Sewer Public Sewer

Water Public Water

Level or Stories 1

Schools

Elementary Schools Glencoe

Middle Schools Mt Tabor

High Schools Franklin

Others

Acceptable Financing Cash, Conventional, FHA

Listing Terms Cash, Conventional, FHA

Regional Multiple Listing Service (RMLS)

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(503) 621-4693

nathan@exploreoregonhomes.com

2337 SE 48TH AVE Portland, OR 97215