- ADDRESS:
- 1408 SE 22nd AVE Portland, OR 97214
- Price:
- $1,295,000
- Units:
- 7
- Acres:
- 0.23
- Unit 1:
- 1 Bed 1.0 Bath $1,549/mo
- Unit 2:
- 1 Bed 1.0 Bath $1,225/mo
- Unit 3:
- 1 Bed 1.0 Bath $1,416/mo
- Unit 4:
- 1 Bed 1.0 Bath $1,655/mo
- Unit 5:
- 1 Bed 1.0 Bath $1,452/mo
- Unit 6:
- 1 Bed 1.0 Bath $1,595/mo
- Unit 7:
- 1 Bed 1.0 Bath $1,795/mo
- MLS#:
- 746365810
- Lot Size:
- 10,000 to 14,999 SqFt
- Type:
- Multi
- Zone:
- R2.5
- Yr Built:
- 1904
- Taxe/yr:
- $9,621.20
- County:
- Multnomah
- Status:
- Active
- Levels:
- 2
- Heat:
- WallHeater
- Nhood/Bldg:
- Buckman
- Elem:
- Sunnyside Env
- Middle:
- Sunnyside Env
- High:
- Franklin
- Lot Desc:
- Corner Lot
- Area:
- Portland Southeast
- Courtesy of:
- Rarebird Real Estate
- 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 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.