$950,000

1626 SE Alder St Portland, OR 97214

Buckman Neighborhood

Estimated payment $5,895/month

Total Views 4,031
2 Beds
3 Baths
4,813 Sq Ft
$197 Price per Sq Ft

Highlights

  • Baseboard Heating
  • 2 Car Garage
  • Wood Siding
  • Cleveland High School Rated A-
  • Laundry Facilities
  • 5-minute walk to Colonel Summers Park

About This Home

Norris & Stevens Inc., is pleased to present for purchase this 7-unit multi-family property located at 1626 SE Alder Street, Portland, OR 97214. Built in 1903, the asset is comprised of five 1-bedroom/1-bath units and two studio units. Positioned in a prime pocket of Southeast Portland’s Buckman neighborhood, the property offers immediate access to the Belmont retail corridor as well as the nearby Hawthorne District, Central Eastside, and downtown Portland. The location provides excellent walkability, bike access, and connectivity to major employment and lifestyle hubs, ensuring consistent rental demand. The property also presents a value-add opportunity through unit renovations, common area improvements, and bringing rents in line with market levels. With strong fundamentals, upside potential, and a highly desirable location, 1626 SE Alder represents a rare opportunity to invest in one of Portland’s most active submarkets.

Listing Agent

David Keys

Norris & Stevens Investment Real Estate Services Brokerage Email: DavidK@norris-stevens.com License #820600052 Listed on: 10/08/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,709

Year Built

  • Built in 1903

Lot Details

  • 4,791 Sq Ft Lot

Parking

  • 2 Car Garage
  • Driveway

Home Design

  • Shingle Roof
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 4,813 Sq Ft Home
  • 3-Story Property

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 3 Bathrooms

Unfinished Basement

  • Basement Fills Entire Space Under The House
  • Basement Storage

Schools

  • Buckman Elementary School
  • Hosford Middle School

Utilities

  • No Cooling
  • Heating System Uses Gas
  • Heating System Mounted To A Wall or Window
  • Baseboard Heating

Listing and Financial Details

  • Assessor Parcel Number R114331

Community Details

Overview

  • 7 Units
  • Buckman Subdivision

Amenities

  • Laundry Facilities

Building Details

  • Operating Expense $48,813
  • Gross Income $101,083
  • Net Operating Income $52,270

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,709

Year Built

Built in 1903

Lot Details

0

Parking

2

Listing Details

  • Standard Status: Active
  • MLS Status: Active
  • Property Type: MultiFamily
  • Stories: 3
  • Year Built: 1903
  • Property Condition: Existing
  • Property Attached Yn: No
  • Current Price For Status: 950000.0
  • Open House: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: FullBasement, StorageSpace, Unfinished
  • Storage: Basement,IndividualStorageUnits
  • Total Bedrooms: 2
  • Lot Size Range: SqFt5000to6999

Exterior Features

  • Exterior Description: WoodSiding
  • Lot Size: 5,000 to 6,999 SqFt
  • View: No
  • Road Surface Type: Paved
  • Roof: Composition, Shingle

Garage/Parking

  • Parking Description: Driveway, Garage
  • Attached Garage: No
  • Garage Spaces: 2.0
  • Total Parking Spaces: 2.0

Utilities

  • Fuel Description: Electricity,Gas
  • Cooling Y N: No
  • Heating: Baseboard, WallHeater
  • Heating Yn: Yes
  • Sewer: PublicSewer
  • Water Source: PublicWater

Condo/Co-op/Association

  • Community Features: Laundry

Schools

  • Elementary School: Buckman
  • High School: Other
  • Middle Or Junior School: Hosford

Lot Info

  • Zoning: R2.5
  • Lot Size Acres: 0.11
  • Lot Size Sq Ft: 4791.0
  • Parcel #: R114331

Green Features

  • Green Certification: No

Rental Info

  • Rent Includes: None

Tax Info

  • Tax Deferral: No
  • Tax Year: 2024
  • Tax Annual Amount: 10709.0

Multi Family

  • Unit Type: UnitTypeType1, UnitTypeType2, UnitTypeType3
  • Number Of Units Total: 7
  • Gross Rent Multiplier: 9.4
  • Annual Gross Income: 101083.0
  • Property Net Operating Income: 52270.0
  • Annual Operating Expense: 48813.0

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/08/2025 10/08/25 For Sale $950,000 -- $197 / Sq Ft
Source: Regional Multiple Listing Service (RMLS)

Source: Regional Multiple Listing Service (RMLS)

MLS Number: 139651965

Regional Multiple Listing Service (RMLS)

APN: 1S1E02AB 10700

Oregon Multnomah County Portland 97214 Buckman

1626 SE Alder St, Portland, OR

For Sale

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Nearby Homes
Listing Agent
David Keys
Section Image
Norris & Stevens Investment Real Estate Services
(971) 414-3095