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Listed by Living Room Realty
$490,000
Est. payment /mo
1,680 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 1,680 sqft
Price per Sqft $291
Subdivision Creston / Kenilworth
MLS Listing ID 773359805
HOA Y/N No
Year Built 1929
Annual Tax Amount $5,300
Tax Year 2025
Property Description
Located in Portland's Creston-Kenilworth neighborhood, this versatile property offers convenient access to neighborhood parks, local cafés, popular dining, transit, and the everyday amenities that make close-in SE living so desirable. Blending privacy with convenience, the home is just moments from neighborhood amenities while offering a flexible, income-producing layout. A rare opportunity to own a property with valuable commercial zoning and a permitted ADU, this offering provides flexibility for both homeowners and investors alike.The main home is a bright and inviting 2BR, 1BA bungalow featuring freshly updated hardwood floors, a sun-filled living room, cozy wood-burning fireplace, and mini split cooling for year-round comfort. The permitted lower-level ADU studio offers a well-appointed full bath and a functional, self-contained living space ideal for supplemental rental income, guest accommodations, or flexible live/work use.Both units include private washer and dryer access, while the fully fenced yard provides functional outdoor space for relaxing or entertaining. A long driveway and detached two-car garage offer ample off-street parking and storage.Well-suited for buyers looking to live in the main home while renting the ADU to offset ownership costs, create a multigenerational living arrangement, or add a strong-performing asset to an investment portfolio. Previously occupied by long-term tenants and offering an estimated 5.5% cap rate, this property presents compelling income potential (Financials based exclusively on the Property Management Firm records, Buyer to verify).A rare SE Portland opportunity combining classic bungalow character, flexibility, and a highly accessible close-in location. New roof in 2023 and a 10/10 Home Energy Score! [Home Energy Score = 10. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10011023]
Location
State OR
County Multnomah
Area _143
Zoning CE
Rooms
Basement Finished
Interior
Heating Mini Split, Wall Heater
Cooling Heat Pump, Mini Split
Exterior
Garage Spaces 2.0
Roof Type Composition
Garage No
Building
Lot Description Level
Story 2
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Grout
Middle Schools Hosford
High Schools Cleveland
Others
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
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Nearby School & Business
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