Description
Beautifully remodeled and incredibly versatile, this rare half-acre property features two separate single-level residences with outstanding income and future development potential. The main home offers 3 beds and 1 bath with a remodeled kitchen, updated finishes, comfortable one-level living and A/C. The detached ADU includes 2 beds and 1 bath, remodeled and move-in ready ideal for rental income, multigenerational living, guest quarters, or owner-occupancy with supplemental income. Both homes include fridges and w/ds, making this a truly turnkey opportunity for homeowners and investors alike. Strong existing rental performance with rentometer.com est average rents of approx. $2,167/month for the 3-bed and $1,615/month for the 2-bed ADU creates immediate income potential. BONUS: The 1/2 lot creates additional possibilities rarely found in Portland. The rear portion of the property may allow space for an additional detached ADU, while the full site offers exciting future redevelopment potential for middle housing or cluster home development with potential for up to 16 units. Whether you're looking for an investment opportunity, flexible living arrangement, or long-term development upside, this property offers exceptional potential in a rapidly evolving area of SE Portland. Large usable lot, multiple living spaces, income potential and future flexibility all in one unique property. Property includes a 50 amp exterior outlet for tiny home or RV. Lot may be divided into a minimum of 3 lots. Both units will be vacant at close. Buyer to verify zoning, density and feasibility with the City of Portland. Quiet street, conveniently located in SE Portland with easy access to I-205, Division Street, shopping, restaurants, parks and public transportation. Close to everyday amenities while still offering the privacy and flexibility of a rare half-acre property. DOM is not accurate. Property was withdrawn for 3 weeks to make a repair, back active. [Home Energy Score = 7. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10239200]
Details
| MLS # | 125336922 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1942 |
| Days On Site | 122 |
| Listing Provided By | Berkshire Hathaway HomeServices NW Real Estate | Kelly Asmus |
Features
| SQ Feet | 1,838 |
|---|---|
| Basement | Y |
| Story(s) | 1 |
| Units | 2 |
| Zoning | R5 |
| Acreage | 0.53 |
| Property View | TreesWoods |
Interior
| Heating | Forced Air |
|---|---|
| Heating Yn | Yes |
| Cooling Yn | No |
Exterior
| Roof | Composition |
|---|---|
| Foundation Details | Concrete Perimeter |
| Lot Features | Level |
Parking
| Attached Garage Yn | No |
|---|---|
| Parking Features | Driveway, RVAccess Parking |
Taxes
| Property | 5621 |
|---|
Area Information
| State | OR |
|---|---|
| County | Multnomah |
| City | Portland |
| Zip Code | 97266 |
| Community Name | POWELLHURST |
| School District | David Douglas |
| Elementary School | W Powellhurst |
| High School | David Douglas |
| Listing VS Median (in POWELLHURST) | |
Price: $619,950 low | high Med: $619,950 sqft: 1,838 low | high Med: 1,838 $ / sqft: $337 low | high Med: $337 On site: 122 low | high Med: 122 | |
Market Activity 97266
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Learn More About This Property
| State | OR |
|---|---|
| County | Multnomah |
| City | Portland |
| Zip Code | 97266 |
| Community Name | POWELLHURST |
| School District | David Douglas |
| Elementary School | W Powellhurst |
| High School | David Douglas |
| Listing VS Median (in POWELLHURST) | |
Price: $619,950 low | high Med: $619,950 sqft: 1,838 low | high Med: 1,838 $ / sqft: $337 low | high Med: $337 On site: 122 low | high Med: 122 | |
