Step into the heart of Portland’s beloved Alberta Arts District and discover a property unlike any other—a modern-day urban compound where creativity, community, and investment potential come together in a symphony of opportunity.With RM2-zoning, this extraordinary offering features a classic 1920s bungalow as the anchor residence, thoughtfully complemented by three stunning Scandinavian-inspired accessory dwellings completed in 2018 and finalized with the city in 2025. The original bungalow offers timeless charm and a great floor plan. From the moment you approach the front door, the original charm is evident. With its wide front porch, classic trim details, and generous windows, the home exudes warmth and authenticity. The spacious floor plan includes a well-proportioned living room, a large kitchen, 2 bedrooms, and a cozy sunporch. Beneath it all, a large unfinished basement provides over 800 square feet of blank canvas. Whether you’re dreaming of a vibrant family home, envisioning a collaborative artist collective, or looking for a high-performing income property, this property was designed to evolve with your vision. Don't miss this unique opportunity!
Cascade Hasson Sotheby's International RealtyLicense #200202138Listed on: 07/17/2025
Property Details
Home Type
Multi-Family
Est. Annual Taxes
$6,591
Year Built
Built in 1922
Lot Details
5,662 Sq Ft Lot
Home Design
Composition Roof
Wood Siding
Concrete Perimeter Foundation
Bedrooms and Bathrooms
4 Bedrooms
3 Bathrooms
Unfinished Basement
Basement Fills Entire Space Under The House
Exterior Basement Entry
Schools
Vernon Elementary And Middle School
Jefferson High School
Utilities
Cooling Available
Forced Air Heating System
Heating System Uses Gas
Mini Split Heat Pump
Tankless Water Heater
Listing and Financial Details
Assessor Parcel Number R166137
Community Details
Overview
2 Units
Building Details
Operating Expense $16,704
Gross Income $69,600
Net Operating Income $36,192
Property Details
Home Type
Multi-Family
Est. Annual Taxes
$6,591
Year Built
Built in 1922
Lot Details
0
Listing Details
Standard Status: Active
MLS Status: Active
Property Type: MultiFamily
Year Built: 1922
Property Attached Yn: No
Open House: Yes
Special Features: None
Property Sub Type: MultiFamily
Interior Features
Basement: ExteriorEntry, FullBasement, Unfinished
Total Bedrooms: 4
Lot Size Range: SqFt5000to6999
Exterior Features
Exterior Description: WoodSiding
Lot Size: 5,000 to 6,999 SqFt
Foundation Details: ConcretePerimeter
View: No
Road Surface Type: Paved
Roof: Composition
Garage/Parking
Attached Garage: No
Utilities
Fuel Description: Gas
Hot Water: Tankless
Cooling: MiniSplit
Cooling Y N: Yes
Heating: ForcedAir, MiniSplit
Heating Yn: Yes
Sewer: PublicSewer
Water Source: PublicWater
Schools
Elementary School: Vernon
High School: Jefferson
Middle Or Junior School: Vernon
Lot Info
Zoning: RM2
Lot Size Acres: 0.13
Lot Size Sq Ft: 5662.0
Parcel #: R166137
Green Features
Green Certification: No
Rental Info
Rent Includes: None
Tax Info
Tax Deferral: No
Tax Annual Amount: 6591.21
Multi Family
Unit Type: UnitTypeType1, UnitTypeType2
Number Of Units Total: 2
Gross Rent Multiplier: 11.85
Annual Gross Income: 69600.0
Property Net Operating Income: 36192.0
Annual Operating Expense: 16704.0
Map
Range of Values:
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Average Value
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List Price
Sold Price
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Home Values in the Area
Source: Public Records
Average Home Value in this Area
Source: Public Records
Tax History
Year
Tax Paid
Tax AssessmentTax 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.
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