$1,190,000

Estimated payment $7,818/month

Total Views 6,738
8 Beds
6 Baths
5,420 Sq Ft
$220 Price per Sq Ft

Highlights

  • City View
  • Corner Lot
  • 3 Car Detached Garage
  • Irvington Elementary School Rated 10
  • No HOA
  • 3-minute walk to Sullivans Gulch Dog Park & Playground

About This Home

Fantastic 5-Plex Investment Opportunity in the Heart of NE Portland. Located on a prominent corner lot at the intersection of Sullivan’s Gulch and Grant Park, this versatile 5-plex offers an exceptional opportunity for investors or owner-occupants. The property features a mix of 1-, 2-, and 3-bedroom units, 4 units currently rented under market value—providing significant upside potential. Each spacious unit includes large bedroom(s), generous living areas, in-unit washer and dryer. Brand NEW roof ensures peace of mind and long-term value. Come with detached 3-bay garage with development potential or additional income opportunities. Please do not disturb tenants. All units are occupied. Offer pending interior inspections.

Listing Agent

Wendy Zhu

Crestview Realty, LLC License #201211353 Listed on: 05/23/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $16,155

Year Built

  • Built in 1925

Lot Details

  • 3,920 Sq Ft Lot
  • Corner Lot

Parking

  • 3 Car Detached Garage

Home Design

  • Flat Roof Shape
  • Slab Foundation
  • Stucco Exterior
  • Concrete Perimeter Foundation

Interior Spaces

  • 5,420 Sq Ft Home
  • 3-Story Property
  • City Views

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 6 Bathrooms

Schools

  • Irvington Elementary School
  • Harriet Tubman Middle School
  • Jefferson High School

Utilities

  • Window Unit Cooling System
  • Zoned Heating
  • Heating System Uses Gas
  • Electric Water Heater

Listing and Financial Details

  • Assessor Parcel Number R128184

Community Details

Overview

  • No Home Owners Association
  • 5 Units
  • Sullivans Gulch Subdivision

Building Details

  • Operating Expense $49,897
  • Gross Income $91,080
  • Net Operating Income $41,183

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$16,155

Year Built

Built in 1925

Lot Details

0

Parking

3

Listing Details

  • Standard Status: Active
  • MLS Status: Active
  • Property Type: MultiFamily
  • Stories: 3
  • Year Built: 1925
  • Property Condition: Existing
  • Property Attached Yn: No
  • Open House: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: None
  • Storage: Garage
  • Total Bedrooms: 8
  • Lot Size Range: SqFt3000to4999

Exterior Features

  • Exterior Description: Stucco
  • Lot Size: 3,000 to 4,999 SqFt
  • Foundation Details: ConcretePerimeter, Slab
  • View: Yes
  • Lot Features: CornerLot
  • Road Surface Type: Concrete
  • Roof: Flat
  • View: City

Garage/Parking

  • Parking Description: Detached, Garage
  • Attached Garage: No
  • Garage Spaces: 3.0
  • Total Parking Spaces: 3.0

Utilities

  • Fuel Description: Electricity,Gas
  • Hot Water: Electricity
  • Cooling: WindowUnit
  • Cooling Y N: Yes
  • Heating: Zoned
  • Heating Yn: Yes
  • Sewer: PublicSewer
  • Water Source: PublicWater

Condo/Co-op/Association

  • Association: No

Schools

  • Elementary School: Irvington
  • High School: Jefferson
  • Middle Or Junior School: Harriet Tubman

Lot Info

  • Zoning: CM2
  • Lot Size Acres: 0.09
  • Lot Size Sq Ft: 3920.0
  • Parcel #: R128184

Green Features

  • Green Certification: No

Rental Info

  • Rent Includes: MaintenanceGrounds, Sewer, TrashCollection, Water

Tax Info

  • Tax Deferral: No
  • Tax Year: 2024
  • Tax Annual Amount: 16154.89
  • Tax Opportunity Zone: No

Multi Family

  • Unit Type: UnitTypeType1, UnitTypeType2, UnitTypeType3, UnitTypeType4, UnitTypeType5
  • Number Of Units Total: 5
  • Gross Rent Multiplier: 13.07
  • Annual Gross Income: 91080.0
  • Property Net Operating Income: 41183.0
  • Annual Operating Expense: 49897.0

Map

Range of Values:

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Average Value
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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 Change Sq Ft Price
05/23/2025 05/23/25 For Sale $1,190,000 +13.3% $220 / Sq Ft
03/31/2023 03/31/23 Sold $1,050,000 -22.2% $194 / Sq Ft
02/22/2023 02/22/23 Pending -- -- --
01/19/2023 01/19/23 Price Changed $1,350,000 -10.0% $249 / Sq Ft
12/02/2022 12/02/22 For Sale $1,500,000 -- $277 / Sq Ft
Source: Regional Multiple Listing Service (RMLS)

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Source: Regional Multiple Listing Service (RMLS)

MLS Number: 171281869

Regional Multiple Listing Service (RMLS)