501 SE 157TH AVE, Portland, OR 97233
- $620,000
- 3,503
- SqFt
- Sold Price
- $620,000
- List Price
- $599,900
- Closing Date
- Aug 28, 2026
- Days on Market
- 149
- MLS#
- 785509330
- Property Type
- Multifamily
- Sqft. of Residence
- 3,503
- Lot Size
- 20, 000 SqFt to .99 Acres
- Region
- Portland Southeast
- Status
- SOLD
Property Description
Fantastic tri-plex opportunity with exceptional flexibility and income potential! Situated in the Centennial neighborhood on a rare, dividable 0.48-acre lot zoned RM1, this property offers a unique blend of current cash flow and future development possibilities. Each of the three units features 2 bedrooms and 1 bathroom, with updates completed to varying degrees. Units are equipped with central air conditioning, in-unit washers and dryers, electric or gas ranges, and free-standing refrigerators for tenant convenience. Unit 505 showcases wood flooring, black appliances, a cozy fireplace with brick surround, and a stackable washer and dryer. Unit 511 offers distinctive Spanish tile in the kitchen, stainless steel appliances, gas cooking, a carpeted living room with a woodstove, a full-size washer and dryer, and a relaxing soaking tub. Unit 513, located on the lower level, features laminate wood flooring, white appliances, a built-in microwave, and a soaking tub. Residents enjoy access to shared outdoor spaces complete with a covered back patio, raised garden beds, and an inviting outdoor fireplace. The expansive, level backyard provides ample room for gardening, recreation, or future expansion. Additional highlights include two rentable garages for added income and driveway parking for at least six vehicles. Whether you're looking to subdivide and build, maintain as an income-producing property, or create a multi-generational living compound, this property offers endless possibilities in a prime location.
Additional Information
- Tax Amount
- $9,789
- Year Built
- 1947
- High School
- Centennial
- Elementary School
- Parklane
- Middle School
- Oliver
- Garage Spaces
- 2
- Acres
- 0.48
- Living Area
- 3,503
- Stories
- 2
- Subdivision
- CENTENNIAL
- Terms
- Cash, Conventional
- Cooling Description
- Central Air
- Fuel Description
- Gas
- Heating Description
- Forced Air
- Hoa Rent Includes
- None
- Hot Water Description
- Gas
- Exterior Description
- Brick
- Roof Type
- Composition
- Sewer Description
- Public Sewer
- Parking
- Garage, Open
- Parking Description
- Garage, Open
- Road Surface
- Paved
- Number Of Units Total
- 3
- Unit Type One Baths Total
- 2
- Unit Type One Beds Total
- 2
- Unit Type One Rent
- 1485
- Unit Type One Sq Ft
- 900
- 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
- 2
- Unit Type Three Beds Total
- 2
- Unit Type Three Rent
- 1595
- Unit Type Three Sq Ft
- 950
- Unit Type Three Units Total
- 1
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Listing courtesy of Windermere Realty Trust. Selling Office: Redfin.
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