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Listed by Redfin
$ 673,000
Est. payment | /mo
2,663 SqFt
$ 673,000
Est. payment | /mo
2,663 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,663 sqft
Price per Sqft $252
Subdivision University Park
MLS Listing ID 24112823
Year Built 1906
Annual Tax Amount $6,242
Tax Year 2024
Lot Size 5,227 Sqft
Property Description
Investor's Dream in University Park: This duplex offers an exceptional opportunity for savvy investors. With two distinct units - a 2-bedroom, 1-bath and a 3-bedroom, 1-bath - this property maximizes rental potential. In addition, there is 816 sq. ft. of unfinished basement for extra storage plus the R2.5 zoning allows for potential conversion of 520sq.ft garage to an additional unit/ADU. Each unit boasts modern amenities including stainless steel appliances, hardwood floors, and in-unit washer and dryer, ensuring high tenant satisfaction and premium rental rates.Strategic Design: Featuring private entrances and tall ceilings, tenants enjoy a sense of exclusivity and space. The covered porch provides an inviting outdoor area, while the garden and patio offer additional relaxation spots. Investors can leverage the unfinished basement for extra storage or as an added amenity for tenants.Potential for Expansion: The large garage space presents a unique opportunity to convert into a third rental unit, further increasing rental income potential. With the ability to accommodate multiple vehicles or serve as a workshop/storage area, this space offers flexibility for various investment strategies.Prime Location: Situated in University Park, this property is in a highly desirable rental market, attracting tenants seeking proximity to amenities & employment opportunities. Investors can capitalize on the consistent demand for housing in this area, ensuring stable occupancy rates and strong rental yields. Don't miss out on this lucrative investment opportunity! With its strategic design, prime location, and potential for expansion, this duplex offers a pathway to long-term financial growth in the lucrative rental market
Location
State OR
County Multnomah
Area _141
Zoning R2.5
Rooms
Basement Storage Space, Unfinished
Interior
Heating Forced Air
Cooling Window Unit
Exterior
Roof Type Composition
Garage No
Building
Lot Description Trees
Story 2
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Astor
Middle Schools Astor
High Schools Roosevelt
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
