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501 SE 157TH AVE

Portland, OR 97233
Square Ft.
3,503
Pending
Multifamily
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$599,900
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… Read MoreRead Less
Listing courtesy of Windermere Realty Trust.
Listing Snapshot
Days Online
38
Last Updated
Square Ft.
3,503
Lot Size
0.48 Acres
Year Built
1947
MLS Number
785509330
30 Days Snapshot Of 97233
$377k
0%
(avg) sold price
17
-15%
homes sold
57
+128%
(avg) days on market
Snapshot
Area Map
Additional Details
Unit One
Area: 900, Actual Rent: $1,485, Features: AirConditioning, Range, Refrigerator, WasherDryer, Units Total: 1, 2 total bathrooms, 2 total bedroom
Property Access
Road Surface Type: Paved
Building
Building Area Total: 3503, Built in 1947, Storage: Garage, Stories: 2, Unit Type Type: UnitTypeType1, UnitTypeType2, UnitTypeType3
Community
Community Features: AllLandscaping, CentralAir, Commons
Cooling
Cooling: CentralAir
Disclosures
Disclosures: Disclosure
Expenses
Operating Expense Scheduled: 19475, Operating Expense: $19,475
Exterior Features
Exterior Description: Brick
Garage
Garage Spaces: 2
Heating
Heating: ForcedAir
Income
CAP Rate: 7.18, Gross Income: $62,556, Gross Rent Multiplier: 9.59, Gross Scheduled Income: $66,156, Net Operating Income: $43,081, Net Scheduled Income: 46681
Lot
Features: Level, Size Acres: 0.48, Size Range: SqFt20000toAcres1, Size Square Feet: 20,908, Size: 20,000 SqFt to .99 Acres
Miscellaneous
Investor Information: Leases
Parking
Features: Garage, Open, 6 total parking spots
Property
Number Of Units Total: 3, Property Condition: UpdatedRemodeled, Zoning: RM1
Roof
Roof: Composition
Sewer
Sewer: PublicSewer
Taxes
Annual Amount: $9,789, Legal Description, Tax Year: 2025
Unit Two
Actual Rent: $1,535, Area: 925, Features: AirConditioning, Range, Refrigerator, WasherDryer, Units Total: 1, 2 total bathrooms, 2 total bedroom
Unit Three
Actual Rent: $1,595, Area: 950, Features: AirConditioning, Range, Refrigerator, WasherDryer, Units Total: 1, 2 total bathrooms, 2 total bedroom
Utilities
Fuel Description: Gas, Hot Water Description: Gas, Water Source: PublicWater
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Erika George and Kari McGee
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Schools In The Area

Check out nearby schools with ratings and contact info.
Parklane Elementary School 503-762-3205 Public KG-5
Oliver Middle School Telephone N/A Public 6-8
Centennial High School 503-762-6180 Public 9-12
Parklane Elementary School 503-762-3205 Public KG-5
Parklane Elementary School 503-762-3205 Public KG-5
Oliver Middle School Telephone N/A Public 6-8
Centennial High School 503-762-6180 Public 9-12

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This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.