Homes for sale - 1408 SE 22nd AVE, Portland, OR 97214

Additional details

Discover Northwest Realty - Land

info@unitedcountrynw.com +1(360) 843-4032

Listed by Rarebird Real Estate

$1,295,000

Est. payment - /mo

6,178 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,178 sqft

Price per Sqft $209

Subdivision Buckman

MLS Listing ID 746365810

HOA Y/N No

Year Built 1904

Annual Tax Amount $9,621

Tax Year 2025

Lot Size 10,018 Sqft

Property Description

This seven-unit multifamily property is located at the corner of SE 22nd and Madison in Portland's highly desirable Buckman neighborhood. Built in 1904, this classic east side building offers spacious one-bedroom units, featuring hardwood floors, gas ranges, and abundant natural light.The property includes on-site laundry, a full basement with storage, and off-street parking—rare amenities in this walkable, bike-friendly area. Positioned on a prominent 10,000+ SF corner lot, the building benefits from excellent visibility and proximity to SE Hawthorne and Belmont's retail corridors, drawing strong, stable tenant demand.Current rents range from $1,225 to $1,795/month, with a Stabilized gross income of $137,378 and a cap rate of 7.22%. Residents enjoy easy access to transit, local parks, and a vibrant food and beverage scene, all within one of Portland's top-performing rental submarkets.With strong in-place income, upside in rents, and an irreplaceable location in one of Portland's most beloved neighborhoods, this property presents a compelling opportunity for local investors seeking long-term value and reliable cash flow.

Location

State OR

County Multnomah

Area _143

Zoning R2.5

Rooms

Basement Full Basement

Interior

Heating Wall Heater

Exterior

Garage Spaces 1.0

Roof Type Other

Garage No

Building

Lot Description Corner Lot

Story 2

Sewer Public Sewer

Water Public Water

Level or Stories 2

Schools

Elementary Schools Sunnyside Env

Middle Schools Sunnyside Env

High Schools Franklin

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

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Regional Multiple Listing Service (RMLS)

Discover Northwest Realty - Land

Broker | License ID: 90947

+1(360) 843-4032 | info@unitedcountrynw.com

1408 SE 22nd AVE Portland, OR 97214

Discover Northwest Realty - Land

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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