1408 SE 22nd AVE, Portland, OR 97214
- $1,209,065
- 6,178
- SqFt
- Sold Price
- $1,209,065
- List Price
- $1,250,000
- Closing Date
- Jul 16, 2026
- Days on Market
- 196
- MLS#
- 746365810
- Property Type
- Multifamily
- Sqft. of Residence
- 6,178
- Lot Size
- 10, 000 to 14, 999 SqFt
- Region
- Portland Southeast
- Status
- SOLD
Property Description
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 Scheduled gross income of $141,780 and a cap rate of 7.46%. 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.
Additional Information
- Tax Amount
- $9,621
- Year Built
- 1904
- High School
- Franklin
- Elementary School
- Sunnyside Env
- Middle School
- Sunnyside Env
- Garage Spaces
- 1
- Acres
- 0.23
- Living Area
- 6,178
- Stories
- 2
- Subdivision
- Buckman
- Terms
- Cash, Conventional
- Fuel Description
- Gas
- Heating Description
- Wall Heater
- Hoa Rent Includes
- Electricity, Sewer, Water
- Hot Water Description
- Gas
- Exterior Description
- Wood Siding
- Roof Type
- Other
- Sewer Description
- Public Sewer
- Parking
- On Street
- Parking Description
- On Street
- Road Surface
- Paved
- Number Of Units Total
- 7
- Unit Type One Baths Total
- 1
- Unit Type One Beds Total
- 1
- Unit Type One Rent
- 1549
- Unit Type One Sq Ft
- 550
- Unit Type One Units Total
- 1
- Unit Type Two Baths Total
- 1
- Unit Type Two Beds Total
- 1
- Unit Type Two Units Total
- 1
- Unit Type Three Baths Total
- 1
- Unit Type Three Beds Total
- 1
- Unit Type Three Rent
- 1416
- Unit Type Three Sq Ft
- 400
- Unit Type Three Units Total
- 1
- Unit Type Four Baths Total
- 1
- Unit Type Four Beds Total
- 1
- Unit Type Four Rent
- 1655
- Unit Type Four Sq Ft
- 510
- Unit Type Four Units Total
- 1
- Unit Type Five Rent
- 1452
- Unit Type Five Sq Ft
- 720
- Unit Type Five Units Total
- 1
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Listing courtesy of Rarebird Real Estate. Selling Office: Living Room Realty.
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