Property Description

Discover an income-producing 5-unit property located in an established Portland neighborhood. Each thoughtfully designed unit features a highly functional layout with 2 to 3 bedrooms and 1.5 bathrooms, ideal for attracting and retaining long-term tenants. Interiors include laminate flooring on the main level, carpeted upper floors, convenient powder rooms, and well-appointed kitchens with modern appliances. Bedrooms are located upstairs and share a Jack-and-Jill bathroom, while charming front entries and private back patios enhance appeal. This property is built for ease of management, offering six electrical meters, a covered trash and recycling area, and simple, low-maintenance landscaping. A compelling value-add opportunity, current rents are estimated to be approximately 18% below market rates, providing immediate upside potential and increased cash flow. Investors may also consider an owner-occupant strategy by living in one unit while leasing the others to offset mortgage expenses. This property benefits from strong rental demand and convenient access to local amenities, transportation, and major corridors.