$935,000

Estimated payment $6,025/month

Total Views 2,912
5 Beds
3 Baths
3,306 Sq Ft
$283 Price per Sq Ft

Highlights

  • City View
  • No HOA
  • Level Lot
  • U.S. Grant High School Rated A
  • High Speed Internet
  • Heating System Mounted To A Wall or Window

About This Home

Excellent opportunity to own a turnkey, fully occupied four-plex in the heart of NE Portland. This property features a desirable mix of units—three spacious 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit—all fully remodeled in 2015 with high-quality finishes and modern updates, including in-unit washers and dryers.Professionally managed and consistently occupied, the investment is scheduled to gross over $75,000 in 2025. Actual financials closely mirror the pro-forma, supporting a realistic 5+% CAP rate, making this a solid, dependable investment.Located near Laurelhurst and the Hollywood District, just steps to restaurants, shops, parks, Providence Hospital, library, the Hollywood Farmers Market, and MAX Light Rail. Enjoy easy access to I-84 and major transit routes, making it highly attractive to tenants and commuters alike. Whether you're looking to grow your portfolio or invest in a high-performing asset in a thriving Portland neighborhood, this four-plex checks all the boxes.

Listing Agent

Christopher Mackey

Windermere RE Lane County Brokerage Phone: 541-525-2559 License #201225695 Listed on: 06/30/2025

Windermere RE Lane County

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,753

Year Built

  • Built in 1966 | Remodeled

Lot Details

  • 4,356 Sq Ft Lot
  • Level Lot

Home Design

  • Built-Up Roof
  • Cement Siding
  • Concrete Perimeter Foundation

Interior Spaces

  • 3,306 Sq Ft Home
  • 2-Story Property
  • City Views
  • Crawl Space

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 3 Bathrooms

Parking

  • 4 Parking Spaces
  • Off-Street Parking
  • Assigned Parking

Schools

  • Laurelhurst Elementary And Middle School
  • Grant High School

Utilities

  • No Cooling
  • Heating System Mounted To A Wall or Window
  • High Speed Internet

Listing and Financial Details

  • Assessor Parcel Number R110686

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • Operating Expense $26,193
  • Gross Income $70,734
  • Net Operating Income $41,005

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,753

Year Built

Built in 1966 | Remodeled

Lot Details

0

Listing Details

  • Standard Status: Active
  • MLS Status: Active
  • Property Type: MultiFamily
  • Stories: 2
  • Year Built: 1966
  • Property Condition: UpdatedRemodeled
  • Property Attached Yn: No
  • Open House: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: CrawlSpace
  • Total Bedrooms: 5
  • Lot Size Range: SqFt3000to4999

Exterior Features

  • Exterior Description: CementSiding
  • Lot Size: 3,000 to 4,999 SqFt
  • Foundation Details: ConcretePerimeter
  • View: Yes
  • Lot Features: Level
  • Road Surface Type: Paved
  • Roof: BuiltUp
  • View: City

Garage/Parking

  • Parking Description: Assigned, OffStreet
  • Attached Garage: No
  • Total Parking Spaces: 4.0

Utilities

  • Fuel Description: Electricity
  • Internet Service Type: Cable
  • Cooling: None
  • Cooling Y N: No
  • Heating: WallHeater
  • Heating Yn: No
  • Sewer: PublicSewer
  • Water Source: PublicWater

Condo/Co-op/Association

  • Association: No

Schools

  • Elementary School: Laurelhurst
  • High School: Grant
  • Middle Or Junior School: Laurelhurst

Lot Info

  • Zoning: R1
  • Lot Size Acres: 0.1
  • Lot Size Sq Ft: 4356.0
  • Parcel #: R110686

Green Features

  • Green Certification: No

Rental Info

  • Rent Includes: MaintenanceGrounds, Sewer, TrashCollection, Water

Tax Info

  • Tax Deferral: No
  • Tax Year: 2024
  • Tax Annual Amount: 12753.21

Multi Family

  • Unit Type: UnitTypeType1, UnitTypeType2, UnitTypeType3
  • Number Of Units Total: 4
  • Gross Rent Multiplier: 13.22
  • Annual Gross Income: 70734.0
  • Property Net Operating Income: 41005.0
  • Annual Operating Expense: 26193.0

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
2023 $12,753 $462,780 $0 $0
2022 $11,998 $449,310 $0 $0
2021 $11,795 $436,230 $0 $0
2020 $10,820 $423,530 $0 $0
2019 $10,422 $411,200 $0 $0
2018 $10,116 $399,230 $0 $0
2017 $9,695 $387,610 $0 $0
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/30/2025 06/30/25 For Sale $935,000 0.0% $283 / Sq Ft
05/10/2019 05/10/19 Sold $935,000 -1.4% $283 / Sq Ft
04/22/2019 04/22/19 Pending -- -- --
03/19/2019 03/19/19 For Sale $948,000 +11.5% $287 / Sq Ft
10/28/2016 10/28/16 Sold $850,000 -5.0% $257 / Sq Ft
10/14/2016 10/14/16 Pending -- -- --
09/29/2016 09/29/16 For Sale $895,000 +132.5% $271 / Sq Ft
09/30/2014 09/30/14 Sold $385,000 +1.9% $116 / Sq Ft
09/29/2014 09/29/14 Pending -- -- --
03/13/2014 03/13/14 For Sale $378,000 -- $114 / Sq Ft
Source: Regional Multiple Listing Service (RMLS)

Purchase History

Date Type Sale Price Title Company
Warranty Deed $935,000 Fidelity Natl Ttl Co Of Or
Bargain Sale Deed -- None Available
Bargain Sale Deed -- Wfg Title
Warranty Deed $850,000 Fidelity Natl Title Of Or
Bargain Sale Deed -- None Available
Warranty Deed $385,000 First American
Interfamily Deed Transfer -- None Available
Warranty Deed $360,000 Fidelity Natl Title Co Of Or
Warranty Deed $205,000 First American Title Ins Co
Deed -- First American Title Ins Co
Warranty Deed $130,000 First American Title Ins Co
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $637,500 New Conventional
Previous Owner $830,000 Commercial
Previous Owner $518,000 New Conventional
Previous Owner $436,500 Purchase Money Mortgage
Previous Owner $332,500 Stand Alone Refi Refinance Of Original Loan
Previous Owner $252,000 Purchase Money Mortgage
Previous Owner $168,700 Purchase Money Mortgage
Previous Owner $164,000 Purchase Money Mortgage
Closed $36,000 No Value Available
Source: Public Records

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Source: Regional Multiple Listing Service (RMLS)

MLS Number: 327417535

Regional Multiple Listing Service (RMLS)

APN: R110686