$820000
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5 Bed
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3 Bath
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3892 SqFt
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1 DOM
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Built: 1909
- Status: Active
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Mohanraj Rajendran
Real Estate Agent
(503) 336-1515Charming Farmhouse Triplex in the Heart of North Portland – Fully Leased with 5% Cap Rate and Upside Potential. Welcome to this beautifully maintained former farmhouse, now a thoughtfully converted triplex, nestled in the vibrant Peninsula neighborhood. This income-producing property blends vintage charm with modern upgrades. Opportunities for increased cash flow or re-development into a higher density building. All 3 units have received updates in the last 10 years, have access to storage in the basement, a coin-operated laundry for additional income, shared backyard + deck, and front porches. The lot abuts a parking lot, of which 6’ x 50’ belongs to the property for potential on-site parking (driveway easement agreement needed) • Unit 1: A warm and inviting 1-bedroom featuring original hardwood floors, working wood-fireplace, and a stylish 2015 update with new countertops and a refreshed bathroom. • Unit 2: A quaint 2-bedroom with hardwood floors, a large kitchen, built-ins, and a recently remodeled bathroom and kitchen. Features classic penny tile a, clawfoot tub, and original hardware • Unit 3: Spanning the entire upper floor, this bright 2-bedroom unit includes new carpeting, and newly added air conditioning / furnace, a refreshed kitchen with marmoleum flooring, and a generous bonus room perfect for a playroom or large walk-in closet. Located less than a mile from Arbor Lodge’s New Seasons Market, and just two miles to both the Kenton and St. Johns commercial districts. A few short blocks to University of Portland, this property is perfectly positioned for walkability and long-term desirability. Served by the 75 and 35 Bus-lines, with lots of nearby shops and restaurants on Lombard Avenue. • Zoned CM2 (Commercial Mixed Use 2) – flexible for a variety of future uses into higher density apartments 0’ Whether you’re a seasoned investor or a visionary homebuyer, this one-of-a-kind triplex offers with shops, parks and activities. Don’t miss this exceptional investm
Listing Provided Courtesy of Jessica Burke, Living Room Realty
General Information
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232296525
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1 DOM
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5
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4356 SqFt
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3
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3892
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1909
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CM2
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Multnomah
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R248754
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Astor
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Astor
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Roosevelt
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MultiFamily
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PORTSMOUTH VILLA EXTD, BLOCK F, N 2' OF ELY 25' OF LOT 2 & ELY 85
Listing Provided Courtesy of Jessica Burke, Living Room Realty
Mohan Realty Group data last checked: Aug 19, 2025 09:26 | Listing last modified Aug 18, 2025 11:35,
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