480 NE 18TH ST, Gresham, OR 97030
480 NE 18TH ST, Gresham, OR 97030
480 NE 18TH ST, Gresham, OR 97030
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Mike Farrell

Mike Farrell

+1(360) 910-1926
Listed by Realty One Group Prestige
$619,000
Est. payment /mo
2,610 SqFt
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Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,610 sqft

Price per Sqft $237

Subdivision North Central

MLS Listing ID 433997688

Year Built 1978

Annual Tax Amount $6,887

Tax Year 2025

Lot Size 8,276 Sqft

Property Description

Investors, take notice! This spacious duplex offers strong rental appeal, substantial recent improvements and opportunity for future income growth with two well-sized 3-bedroom units. Both units are currently rented below their potential, creating an opportunity to increase rents and improve future cash flow. Each unit offers 3 bedrooms, 1.5 baths and 1,305 sq ft, along with a one-car garage, large fenced backyard and driveway parking for two vehicles. There is also additional space suitable for RV parking—an attractive tenant amenity. Significant capital improvements are already in place, including new high-efficiency electric furnaces, new HardiePlank siding, new windows and a new roof. One unit features new LVP flooring, while the other has new engineered hardwood flooring, reducing near-term capital improvement needs. Both units are occupied by month-to-month tenants who would like to stay, providing immediate rental income with potential to minimize turnover and leasing costs. Current rents offer room for future increases. Conveniently located near shopping, bus lines and schools, this property offers investors a compelling combination of existing income, rent-growth potential, quality improvements and long-term value-add opportunity. Whether you're looking for an investment with rent upside, or an owner-occupied opportunity with durable improvements and future value-add potential, this duplex deserves a closer look!

Location

State OR

County Multnomah

Area _144

Zoning LDR-5

Rooms

Basement Crawl Space

Interior

Heating Forced Air95 Plus

Exterior

Garage Spaces 2.0

View Territorial

Roof Type Composition

Garage No

Building

Lot Description Level

Story 2

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public Water

Level or Stories 2

Schools

Elementary Schools Highland

Middle Schools Clear Creek

High Schools Gresham

Others

Acceptable Financing Cash, Conventional, FHA

Listing Terms Cash, Conventional, FHA

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Regional Multiple Listing Service (RMLS)

Nearby Locations

Mike Farrell

"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

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480 NE 18TH ST