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Mike Farrell

mikehomecenter@gmail.com +1(360) 910-1926

Listed by Cascade Hasson Sotheby's International Realty

$899,000

Est. payment - /mo

4,348 SqFt

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UPDATED:

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

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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(360) 910-1926

mikehomecenter@gmail.com

1414 SE LAMBERT ST Portland, OR 97202