2165 NE MULTNOMAH ST, Portland, OR 97232
- $1,075,000
- 4,552
- SqFt
- Sold Price
- $1,075,000
- List Price
- $1,075,000
- Closing Date
- Feb 06, 2026
- Days on Market
- 78
- MLS#
- 234723779
- Property Type
- Multifamily
- Sqft. of Residence
- 4,552
- Lot Size
- 5, 000 to 6, 999 SqFt
- Region
- Portland Northeast
- Status
- SOLD
Property Description
Originally a tri-plex, this property was thoughtfully converted into a four-plex in 2023 with a $109,000 capital investment—adding an additional income-generating unit and enhancing the building’s long-term value. The new unit is fully permitted & is 100% code-compliant. It includes a sprinkler system, enhancing both safety and peace of mind. Ideally situated in the highly sought-after Sullivan’s Gulch neighborhood, just south of NE Broadway’s coffee shops, restaurants, boutiques, and light rail, this four-unit property combines strong rental income with an unbeatable location. With reliable renters & a proven income record, this is a rare opportunity to own a stable, low-maintenance investment in one of Portland’s most desirable close-in locations. At a 5.26% cap rate & 11.26 GRM, this property provides steady cash flow from day one. With current market rents & historically low turnover, investors can expect consistent returns & long-term value growth. Please do not disturb tenants.
Additional Information
- Tax Amount
- $16,932
- Year Built
- 1975
- High School
- Grant
- Elementary School
- Irvington
- Middle School
- Harriet Tubman
- Acres
- 0.12
- Living Area
- 4,552
- Stories
- 3
- Subdivision
- SULLIVAN'S GULCH
- Lot Size Dimension
- 50' x 100'
- Terms
- Cash, Conventional
- Fuel Description
- Electricity
- Heating Description
- Baseboard
- Hoa Rent Includes
- Maintenance Grounds, Sewer, Trash Collection, Water
- Hot Water Description
- Electricity
- Exterior Description
- Cedar, Stone, T-111 Siding
- Roof Type
- Composition
- Sewer Description
- Public Sewer
- Parking
- Assigned, Off Street
- Parking Description
- Assigned, Off Street
- Road Surface
- Paved
- Number Of Units Total
- 4
- Unit Type One Baths Total
- 2
- Unit Type One Beds Total
- 2
- Unit Type One Rent
- 1935
- Unit Type One Sq Ft
- 1315
- Unit Type One Units Total
- 1
- Unit Type Two Baths Total
- 2
- Unit Type Two Beds Total
- 2
- Unit Type Two Units Total
- 1
- Unit Type Three Baths Total
- 3
- Unit Type Three Beds Total
- 3
- Unit Type Three Rent
- 2550
- Unit Type Three Sq Ft
- 1489
- Unit Type Three Units Total
- 1
- Unit Type Four Baths Total
- 1
- Unit Type Four Rent
- 1225
- Unit Type Four Sq Ft
- 600
- Unit Type Four Units Total
- 1
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Listing courtesy of Township Properties Real Estate LLC. Selling Office: Habitat Resource Properties.
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