SELLWOOD-MORELAND
Property • MultiFamily
Web ID # 389001689
$1,019,000.00
0 Beds • 0 Baths
Property Features
Regional Multiple Listing Service, Inc.
Rare Sellwood/Moreland 5-Plex with Value-Add and Development Potential.Exceptional opportunity in the highly sought-after Sellwood/Moreland neighborhood—just minutes from parks, schools, shops, and public transit. This well-located 5-plex offers multiple paths for income growth and future development.One unit is currently vacant and being renovated, allowing a new owner the flexibility to occupy the unit or lease it at full market rent. The unfinished basement offers additional upside, with a layout suitable for conversion into a 6th unit (see floor plan in photos)—potentially increasing total annual rental income by over 22%.Situated on a spacious lot with RM1 zoning, the property provides development opportunities to add up to 10 additional units (buyer to verify). The exterior was freshly painted in August, and the low-maintenance yard features open grassy areas for tenants to enjoy outdoor activities.This property presents multiple avenues for value-add improvements, increased cash flow, and long-term development potential in one of Portland’s most desirable rental markets.Please do not disturb tenants. All offers subject to interior inspection.
Tacoma, South on 21st
Dwelling Type: MultiFamily
Subdivision: SELLWOOD-MORELAND
Year Built: 1909, County: US
Tacoma, South on 21st
Listing is courtesy of Redfin
