$875000
Price cut: $20K (08-13-2025)
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6 Bed
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2 Bath
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3146 SqFt
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61 DOM
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Built: 1909
- Status: Active
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Krishna Regupathy
Principal Broker
(503) 893-8874POTENTIALLY TWO ASSETS: The duplex alone is valued at $650K-$700K. With current rents, the CAP RATE is over 6%! Split the lot & sell (valued at $250K-$350K, depending on size and configuration) for instant equity conversion, or develop separately. This is a true TURN-KEY investment in the hot N Mississippi Neighborhood. Owner Occupant Buyers can enjoy the huge, private lot now & unlock the development opportunities later. Updated systems throughout are an owner/tenant win-win: Updated kitchens & baths, double-pane windows & efficient mini-split HVAC for heating and cooling = happy tenants year-round. Excellent rental history, and low-turnover for the last 20+ years. Each unit has 3 bedrooms + 1 bath. Exterior entry into the basement (w/ 7-ft ceilings) could be explored as TRIPLEX potential. 2 blocks west of a thriving, diverse commercial district, containing event spaces, shopping, dining and services. 2 blocks south of a Pedestrian Bridge that crosses into Overlook - MAX line, more parks, dining, etc. Easy access in all directions to parks, libraries, transit & freeways. 9 min drive to Downtown PDX. Currently a 9,000 SF corner lot with alley access = INCREDIBLE DEVELOPMENT POTENTIAL up to 9 UNITS! Check out Lot/Land listing #317438603. Builder's Packet available upon request. Buyer to do their due diligence. Tenant Occupied -- PLEASE DO NOT DISTURB.
Listing Provided Courtesy of E. Wren Shiffler, Realty Works Group
General Information
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190351402
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61 DOM
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6
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2
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3146
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1909
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RM1
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Multnomah
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R223729
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Boise-Eliot 1/10
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Harriet Tubman 1/10
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Jefferson
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MultiFamily
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MULTNOMAH, BLOCK 28, S 40' OF LOT 11, LOT 13
Listing Provided Courtesy of E. Wren Shiffler, Realty Works Group
Krishna Realty data last checked: Aug 31, 2025 16:16 | Listing last modified Aug 24, 2025 13:24,
Source:
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