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$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

PortlandOR #24456797

Listed
$379,000

Schools & Community

Neighborhood: 

Hazelwood

Elementary school: 

Cherry Park

Middle school: 

Floyd Light

High school: 

David Douglas

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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

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