Homes for sale - 2165 NE MULTNOMAH ST, Portland, OR 97232

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Temple Raney

templeraneyrealestate@gmail.com +1(503) 740-0890

Listed by Township Properties Real Estate LLC

$ 1,075,000

Est. payment | -/mo

4,552 SqFt

Save

$ 1,075,000

Est. payment | -/mo

Save

4,552 SqFt

Key Details

Property Type Multi-Family

Listing Status Pending

Purchase Type For Sale

Square Footage 4,552 sqft

Price per Sqft $236

Subdivision Sullivan'S Gulch

MLS Listing ID 234723779

HOA Y/N No

Year Built 1975

Annual Tax Amount $16,932

Tax Year 2024

Lot Size 5,227 Sqft

Property Description

Originally a tri-plex, this property was thoughtfully converted into a four-plex in 2023 with a $109,000 capital investment—adding an additional income-generating unit and enhancing the building's long-term value. The new unit is fully permitted & is 100% code-compliant. It includes a sprinkler system, enhancing both safety and peace of mind. Ideally situated in the highly sought-after Sullivan's Gulch neighborhood, just south of NE Broadway's coffee shops, restaurants, boutiques, and light rail, this four-unit property combines strong rental income with an unbeatable location. With reliable renters & a proven income record, this is a rare opportunity to own a stable, low-maintenance investment in one of Portland's most desirable close-in locations. At a 5.26% cap rate & 11.26 GRM, this property provides steady cash flow from day one. With current market rents & historically low turnover, investors can expect consistent returns & long-term value growth. Please do not disturb tenants.

Location

State OR

County Multnomah

Community Alllandscaping

Area _142

Zoning R2.5

Rooms

Basement Daylight, Finished

Interior

Heating Baseboard

Exterior

Community Features AllLandscaping

Roof Type Composition

Garage No

Building

Lot Description Level

Story 3

Sewer Public Sewer

Water Public Water

Level or Stories 3

Schools

Elementary Schools Irvington

Middle Schools Harriet Tubman

High Schools Grant

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Regional Multiple Listing Service (RMLS)

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(503) 740-0890

templeraneyrealestate@gmail.com

2165 NE MULTNOMAH ST Portland, OR 97232