$379,000
- Beds
- 3
- Baths
- 2.0
- sq ft
- 1,049
136 SE 97th Ave, Portland, OR 97216
136 SE 97th Ave
Portland, OR 97216
- 87 days on market
This property presents a unique investment opportunity, blending stable rental income with significant future potential. Currently zoned for commercial use but functioning as a residential rental, this property is occupied by long-term tenants who have been in place for 7 years, benefiting from the Section 8 housing program. The existing structure offers comfortable living space with 3 bedrooms and 2 bathrooms, making it an ideal residence for tenants seeking convenience and accessibility. The property’s commercial zoning adds a layer of versatility, providing the possibility for future development or conversion to a commercial enterprise, all while maintaining a steady income stream from the current residential use. Situated in a prime location with easy access to major transportation routes, shopping, and amenities, this property is perfect for investors looking to secure a solid return today with the flexibility to adapt to future market needs. The Section 8 tenant has not had a rent increase since 2018, and according to the local public housing authority, a rental increase will most likely be approved, offering an additional financial upside. The current tenants pay $2,058 monthly rental income. For further questions, please contact the listing agent. Don’t miss out on this rare chance to own a dual-purpose property in the heart of Portland’s evolving landscape. No sign on property. DO NOT disturb tenants.
Details
Property type
Single Family Residence
Lot size
5,227 sq ft
Price per sq ft
$362
Year built
1979
Annual property taxes
$4,038.18
Price History
08/27/2024
PortlandOR #24456797
Listed
$379,000
Schools & Community
Neighborhood:
Hazelwood
Elementary school:
Cherry Park
Middle school:
Floyd Light
High school:
David Douglas
Similar Homes Nearby
Price drop
$434,900
3 bd
|
2 ba|
1,146 sq ft|
House9351 SE Salmon Ct, Portland, OR 97216
Price drop
$429,900
3 bd
|
2 ba|
1,170 sq ft|
House935 NE 117th Ave, Portland, OR 97220
Price drop
$420,000
3 bd
|
2 ba|
1,697 sq ft|
House11512 NE Couch St, Portland, OR 97220
Status: Active
Tomo last checked: 11/21/2024 at 5:15 PM
Listing updated: 11/19/2024 at 2:04 AM
Listed by: Alejandro Contreras-Peraza, MORE Realty Phone #: (503) 353-6673
MLS: PortlandOR #24456797
Recently listed in Portland
$599,500|3 bd|3.0 ba|House
$700,000|4 bd|2.0 ba|House
$1,325,000|5 bd|4.0 ba|House
$450,000|2 bd|2.0 ba|Condo
$475,000|3 bd|2.0 ba|House
$296,000|2 bd|0.5 ba|Condo
$650,000|3 bd|2.0 ba|House
$799,000|4 bd|2.5 ba|House
$525,000|3 bd|2.5 ba|Townhouse
$25,000,000|8 bd|13.0 ba|House
Explore top cities in Oregon