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Listed by ELEETE Real Estate
$ 940,000
Est. payment /mo
New
2350 SE 42nd ST Portland, OR 97215
4,500 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,500 sqft
Price per Sqft $208
Subdivision Richmond
MLS Listing ID 473503293
HOA Y/N No
Year Built 1977
Annual Tax Amount $29,891
Tax Year 2025
Lot Size 0.440 Acres
Property Description
harming SE Portland duplex-style fourplex on an oversized 0.44-acre lot, just off Division in the heart of one of the city's most desirable close-in neighborhoods. Two side-by-side garden-style duplex buildings each offer spacious 2-bed/1-bath townhome-feel units (approx. 1,125 sq. ft.) with in-unit laundry, dishwasher, and full appliance package, plus a rare mix of 6 attached garages and 6 off-street parking spaces – a huge draw for both tenants and future owner-occupants.Property is fully leased with long-term residents and a clean rent roll, producing steady income from both apartments and garage rentals, with 2026 year-to-date financials showing consistent cash flow and professionally managed operations. RM2 zoning and the large 18,971 sq. ft. site provide long-term flexibility for hold-as-is investors, small-scale value-add strategies, or future redevelopment.For investors, this is a turnkey asset in the Southeast Portland submarket, supported by strong employment, above-average household incomes, and robust multifamily fundamentals. For owner-occupants, it's a rare opportunity to live in one updated 2-bed unit with private garage and outdoor space while the other three homes help offset your mortgage – all within easy reach of Division/Hawthorne shops, Safeway, Eastport Plaza, Providence Portland Medical Center, and TriMet bus service just steps away.
Location
State OR
County Multnomah
Area _143
Zoning RM2
Rooms
Basement Crawl Space
Interior
Heating Baseboard
Cooling None
Exterior
View Territorial
Roof Type Shingle
Garage No
Building
Lot Description Level
Story 2
Foundation Slab
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Glencoe
Middle Schools Mt Tabor
High Schools Franklin
Others
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
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