2165 NE Multnomah St Unit 2169 Portland, OR 97232
Sullivan's Gulch NeighborhoodEstimated payment $7,088/month
Highlights
- No HOA
- Landscaped
- Level Lot
- Irvington Elementary School Rated 10
- Baseboard Heating
About This Home
Ideally situated in the highly sought-after Sullivan’s Gulch neighborhood—just south of NE Broadway’s coffee shops, restaurants, boutiques, and light rail—this four-unit property combines strong rental income with an unbeatable location. Tenants love the spacious, townhouse-style layouts, private outdoor spaces, in-unit laundry, decks/patios & off-street parking. Brand new Studio unit was added in 2023, equipped with Sprinkler System. With reliable renters and a proven income record, this is a rare opportunity to own a stable, low-maintenance investment in one of Portland’s most desirable close-in locations. Please do not disturb the tenants.
Listing Agent
Township Properties Real Estate LLC License #200012037 Listed on: 11/20/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $16,933
Year Built
- Built in 1975 | Remodeled
Lot Details
- 5,227 Sq Ft Lot
- Lot Dimensions are 50' x 100'
- Landscaped
- Level Lot
Home Design
- Composition Roof
- Plywood Siding Panel T1-11
- Stone Siding
- Cedar
Interior Spaces
- 4,552 Sq Ft Home
- 3-Story Property
Bedrooms and Bathrooms
- 7 Bedrooms
- 8 Bathrooms
Finished Basement
- Basement Storage
- Natural lighting in basement
Parking
- 2 Parking Spaces
- Off-Street Parking
- Assigned Parking
Schools
- Irvington Elementary School
- Harriet Tubman Middle School
- Jefferson High School
Utilities
- No Cooling
- Baseboard Heating
- Electric Water Heater
Listing and Financial Details
- Assessor Parcel Number R181857
Community Details
Overview
- No Home Owners Association
- 4 Units
- Sullivan's Gulch Subdivision
Building Details
- Operating Expense $33,237
- Gross Income $92,520
- Net Operating Income $56,507
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $17,488 | $651,860 | -- | -- |
| 2024 | $16,933 | $632,880 | -- | -- |
| 2023 | $16,282 | $614,450 | $0 | $0 |
| 2022 | $15,930 | $596,560 | $0 | $0 |
| 2021 | $15,660 | $579,190 | $0 | $0 |
| 2020 | $14,366 | $562,330 | $0 | $0 |
| 2019 | $13,838 | $545,960 | $0 | $0 |
| 2018 | $13,431 | $530,060 | $0 | $0 |
| 2017 | $12,872 | $514,630 | $0 | $0 |
| 2016 | $11,781 | $499,650 | $0 | $0 |
| 2015 | $11,471 | $485,100 | $0 | $0 |
| 2014 | $11,298 | $470,980 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 11/20/2025 11/20/25 | For Sale | $1,075,000 | +30.3% | $236 / Sq Ft | |
| 01/31/2020 01/31/20 | Sold | $825,000 | -10.8% | $196 / Sq Ft | View Prior Sale |
| 12/24/2019 12/24/19 | Pending | -- | -- | -- | |
| 09/26/2019 09/26/19 | For Sale | $924,450 | -- | $219 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $825,000 | Old Republic Title Co Of Or | |
| Interfamily Deed Transfer | -- | None Available |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $618,750 | New Conventional |
Source: Regional Multiple Listing Service (RMLS)
MLS Number: 234723779
APN: R181857
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The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS™ of Portland, Oregon. Real estate listings held by brokerage firms other than Ten-X are marked with the RMLS™ logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2025 RMLS™, Portland, Oregon. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. All information provided is deemed reliable but is not guaranteed and should be independently verified.
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