$599900

Bed
Bath
SqFt
1 DOM
Built:
Status: Active

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Krishna Regupathy

Principal Broker

(503) 893-8874

Fantastic land bank with wonderful cash flow situated in the Centennial neighborhood on a rare, dividable 0.48-acre lot zoned RM1, this property offers a unique blend of cash flow and future development possibilities. Each of the three units features 2 bedrooms and 1 bathroom, with updates completed to varying degrees. Units are equipped with central air conditioning, in-unit washers and dryers, electric or gas ranges, and free-standing refrigerators for tenant convenience. Unit 505 showcases wood flooring, black appliances, a cozy fireplace with brick surround, and a stackable washer and dryer. Unit 511 offers distinctive Spanish tile in the kitchen, stainless steel appliances, gas cooking, a carpeted living room with a woodstove, a full-size washer and dryer, and a relaxing soaking tub. Unit 513, located on the lower level, features laminate wood flooring, white appliances, a built-in microwave, and a soaking tub. Residents enjoy access to a shared outdoor spaces complete with a covered back patio, raised garden beds, and an inviting outdoor fireplace. The expansive, level backyard provides ample room for gardening, recreation, or future expansion. Additional highlights include two rentable garages for added income and driveway parking for at least six vehicles. Whether you're looking to subdivide and build on the entire lot or a portion thereof, maintain as an income-producing property, or create a multi-generational living compound, this property offers endless possibilities in a prime location.

Listing Provided Courtesy of Jeff Capen, Windermere Realty Trust

General Information

MLS #664175852
TypeMultiFamily
Days on Market 1 DOM
Beds
Lot Size 0.48 acres
Baths
SqFt
Year built
ZoningRM1
CountyMultnomah
Tax IDR255684
ElemParklane 2/10
MiddleOliver 5/10
HighCentennial 1/10
PropCategoryLand
PropTypeMultiFamily
Neighborhood (Legal)RITLOW AC, BLOCK B, W 140' OF E 165' LOT 2 EXC N 70' & EXC S 382'

Listing Provided Courtesy of Jeff Capen, Windermere Realty Trust

Krishna Realty data last checked: Apr 02, 2026 03:40 | Listing last modified Apr 01, 2026 09:09, Source:

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Residence Information

Upper SqFt
Main SqFt
Lower SqFt
Total SqFt
SFSrc
TotUp/Mn
Fireplaces
Bdrms
Full Bath
Partial Bath
Total Bath
Roof
Garage
Style
Parking
Levels
Year Built
Green CertNo
Energy Eff
Exterior
Bsmt/Fnd
RV
URM
Basement
Foundation
Windows
Amenities

Features and Utilities

Living
Kitchen
Interior
Exterior
Accessibility
Cool
Water
Heat
Sewer
Hot Water
Fuel

Financial

PTax/Yr9789.34
HOA0
HOA Incl
HOA Fee
Other Dues
Terms ConsideredCash,Conventional
List Date04-01-2026
Rent (If Rented)
Bank Owned/REONo
Short SaleNo

Comparable Information

Pending Date
DOM 1
CDOM 1
Sold Date
TermsCash,Conventional
Original Price$599,900
List Price$599,900
Sold Price
Last ModifiedApr 01, 2026 09:09

Schools

public Elementary : Parklane 2/10 Ratings

public Middle : Oliver 5/10 Ratings

public High : Centennial 1/10 Ratings

Map

Listing courtesy of Windermere Realty Trust.

The content relating to real estate for sale on this site comes in part from the IDX program of the RMLS of Portland, Oregon. Real Estate listings held by brokerage firms other than this firm are marked with the RMLS logo, and detailed information about these properties include the name of the listing's broker. Listing content is copyright © 2019 RMLS of Portland, Oregon. All information provided is deemed reliable but is not guaranteed and should be independently verified. Krishna Realty data last checked: Apr 02, 2026 03:40 | Listing last modified Apr 01, 2026 09:09. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.

501 SE 157TH AVE

$599,900