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Listed by Keller Williams Realty Portland Premiere • 503-709-4632
$879,900
Est. payment /mo
1,832 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 1,832 sqft
Price per Sqft $480
Subdivision Multnomah
MLS Listing ID 788305557
Year Built 2026
Property Description
A rare SW Portland cottage cluster investment opportunity, this newly built offering includes the two front detached homes at 3616 and 3630 SW Vermont St, each designed with 3 bedrooms and 2.1 bathrooms for a combined total of 6 bedrooms, 4 full bathrooms, and 2 half bathrooms. Both homes are currently vacant and ready for lease up, giving an investor the opportunity to establish new market rents from day one. Designed as detached cottage style residences, the offering provides the privacy, identity, and resident appeal of standalone living while remaining efficient to own and operate. Built by a local boutique builder renowned for attention to detail, elevated finishes, and a thoughtful approach to efficient living, the homes are intentionally scaled for lower maintenance ownership and broad tenant appeal. Interior features include open main level living areas, flexible main floor bedroom or living room options, upstairs bedrooms with tasteful coffered ceilings, walk in closets, laundry, energy efficient mini splits for year round heating and cooling, and 2-10 builder warranty coverage for added confidence. The cottage cluster setting includes individual entries, a central community walkway, bike parking, and distinct cottage inspired features that give the community a polished neighborhood presence. From a retention standpoint, the location is a major strength: Gabriel Park is just steps away, giving residents easy access to trails, open green space, sports courts, a dog area, playground, and everyday recreation without needing to drive. Nearby Multnomah Village adds coffee, dining, shops, bakeries, neighborhood services, and a recognizable village feel that can help residents stay connected to daily conveniences close to home. Projected rental income and expenses are pro forma estimates based on anticipated lease up rents and operating assumptions. Buyer to verify all rents, expenses, lease up assumptions, and operating projections.
Location
State OR
County Multnomah
Area _148
Zoning R7
Rooms
Basement Crawl Space
Interior
Heating Mini Split
Cooling Heat Pump, Mini Split
Exterior
View Trees Woods
Roof Type Composition
Garage No
Building
Lot Description Level, Public Road
Story 2
Foundation Concrete Perimeter, Stem Wall
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Maplewood
Middle Schools Jackson
High Schools Ida B Wells
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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