- ADDRESS:
- 1408 SE 22nd AVE Portland, OR 97214
- Price:
- $1,400,000
- Units:
- 7
- Acres:
- 0.23
- Unit 1:
-
1 Bed
1.0 Bath
$1,549/mo
Features: Hardwood Floors, Range, Refrigerator - Unit 2:
-
1 Bed
1.0 Bath
$1,225/mo
Features: Hardwood Floors, Range, Refrigerator - Unit 3:
-
1 Bed
1.0 Bath
$1,350/mo
Features: Hardwood Floors, Range, Refrigerator - Unit 4:
-
1 Bed
1.0 Bath
$1,695/mo
Features: Hardwood Floors, Range, Refrigerator - Unit 5:
-
1 Bed
1.0 Bath
$1,452/mo
Features: Hardwood Floors, Range, Refrigerator - Unit 6:
-
1 Bed
1.0 Bath
$1,253/mo
Features: Hardwood Floors, Range, Refrigerator - Unit 7:
-
1 Bed
1.0 Bath
$1,795/mo
Features: Hardwood Floors, Range, Refrigerator - MLS#:
- 309652379
- Lot Size:
- 10,000 to 14,999 SqFt
- Type:
- Multi
- Zone:
- R2.5
- Yr Built:
- 1904
- Taxe/yr:
- $9,275.29
- County:
- Multnomah
- Status:
- Active
- Levels:
- 2
- Heat:
- WallHeater
- Nhood/Bldg:
- BUCKMAN/HAWTHORNE
- Middle:
- Sunnyside Env
- High:
- Franklin
- Lot Desc:
- Corner Lot
- Area:
- Portland Southeast
- Courtesy of:
- Keller Williams Sunset Corridor
- Remarks:
- 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 eastside building offers spacious one-bedroom units, each approximately 600 square feet, 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 projected gross income of $145,236 and a cap rate of 5.67%. 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.