$625,000
$25K PRICE DROP

Estimated payment $3,864/month

Total Views 4,994
4 Beds
2 Baths
2,680 Sq Ft
$233 Price per Sq Ft

Highlights

  • Wood Flooring
  • 3-minute walk to N Killingsworth
  • Forced Air Heating System
  • Beach Elementary School Rated A-
  • Corner Lot
  • 3-minute walk to Patton Square Park

About This Home

2 homes on 1 lot! Both are occupied by tenants and will be sold with tenants in place. Contact agent for financials. 5500 sq ft lot. Zoning is CM2 Commercial Mixed Use per City ofPortland, buyer to verify uses. 5505 N Minnesota is 2160 sq ft, 3 bedrooms, one bathroom. 1223 N Killingsworth is 520sq ft, one bedroom, one bathroom.

Listing Agent

David Axness

Axness & Kofman Real Estate License #980800066 Listed on: 05/23/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,577

Year Built

  • Built in 1922

Lot Details

  • Corner Lot
  • Level Lot

Parking

  • Driveway

Home Design

  • Composition Roof
  • Lap Siding
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,680 Sq Ft Home
  • Wood Flooring
  • Unfinished Basement
  • Basement Storage

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms

Schools

  • Beach Elementary School
  • Ockley Green Middle School
  • Jefferson High School

Utilities

  • No Cooling
  • Forced Air Heating System
  • Heating System Uses Gas
  • Radiant Heating System

Listing and Financial Details

  • Assessor Parcel Number R226124

Community Details

Overview

  • 2 Units
  • North Albina Subdivision

Building Details

  • Operating Expense $10,358
  • Gross Income $41,164
  • Net Operating Income $30,806

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,577

Year Built

Built in 1922

Lot Details

0

Listing Details

  • Standard Status: Active
  • MLS Status: Active
  • Property Type: MultiFamily
  • Year Built: 1922
  • Property Condition: Existing
  • Property Attached Yn: No
  • Open House: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Unfinished
  • Storage: Basement
  • Total Bedrooms: 4
  • Lot Size Range: SqFt5000to6999

Exterior Features

  • Exterior Description: LapSiding
  • Lot Size: 5,000 to 6,999 SqFt
  • Foundation Details: ConcretePerimeter
  • View: No
  • Lot Features: CornerLot, Level
  • Road Surface Type: Paved
  • Roof: Composition

Garage/Parking

  • Parking Description: Driveway
  • Attached Garage: No

Utilities

  • Fuel Description: Gas
  • Cooling Y N: No
  • Heating: ForcedAir, Radiant
  • Heating Yn: Yes
  • Sewer: PublicSewer
  • Water Source: PublicWater

Schools

  • Elementary School: Beach
  • High School: Jefferson
  • Middle Or Junior School: Ockley Green

Lot Info

  • Zoning: CM2
  • Parcel #: R226124

Green Features

  • Green Certification: No

Rental Info

  • Rent Includes: MaintenanceGrounds, TrashCollection

Tax Info

  • Tax Deferral: No
  • Tax Annual Amount: 5576.64

Multi Family

  • Unit Type: UnitTypeType1, UnitTypeType2
  • Number Of Units Total: 2
  • Gross Rent Multiplier: 15.18
  • Annual Gross Income: 41164.0
  • Property Net Operating Income: 30806.0
  • Annual Operating Expense: 10358.0

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

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
2024 $5,577 $208,430 -- --
2023 $5,577 $202,360 $0 $0
2022 $5,246 $196,470 $0 $0
2021 $5,157 $190,750 $0 $0
2020 $4,731 $185,200 $0 $0
2019 $4,557 $179,810 $0 $0
2018 $4,424 $174,580 $0 $0
2017 $4,240 $169,500 $0 $0
2016 $3,880 $164,570 $0 $0
2015 $3,778 $159,780 $0 $0
2014 $3,721 $155,130 $0 $0
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/18/2025 07/18/25 Price Changed $625,000 -3.8% $233 / Sq Ft
05/23/2025 05/23/25 For Sale $650,000 +137.7% $243 / Sq Ft
08/24/2012 08/24/12 Sold $273,500 +1.3% $105 / Sq Ft
07/07/2012 07/07/12 Pending -- -- --
06/26/2012 06/26/12 For Sale $269,900 -- $104 / Sq Ft
Source: Regional Multiple Listing Service (RMLS)

Purchase History

Date Type Sale Price Title Company
Bargain Sale Deed -- None Available
Warranty Deed $273,500 First American
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $205,125 New Conventional
Source: Public Records

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Source: Regional Multiple Listing Service (RMLS)

MLS Number: 621484935

Regional Multiple Listing Service (RMLS)

APN: R226124