Homes for sale - 1408 SE 22nd AVE, Portland, OR 97214

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Lisa Mehlhoff

lisa.mehlhoff@chastel.com +1(503) 490-4888

Listed by Keller Williams Sunset Corridor • 971-235-9561

$ 1,400,000

Est. payment | -/mo

6,178 SqFt

Save

$ 1,400,000

Est. payment | -/mo

Save

6,178 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,178 sqft

Price per Sqft $226

Subdivision Buckman/Hawthorne

MLS Listing ID 309652379

Year Built 1904

Annual Tax Amount $9,275

Tax Year 2024

Lot Size 10,018 Sqft

Property Description

This seven-unit multifamily property is located at the corner of SE 22nd and Madison in Portland's highly desirable Buckman neighborhood. Built in 1904, this classic eastside building offers spacious one-bedroom units, each approximately 600 square feet, featuring hardwood floors, gas ranges, and abundant natural light.The property includes on-site laundry, a full basement with storage, and off-street parking—rare amenities in this walkable, bike-friendly area. Positioned on a prominent 10,000+ SF corner lot, the building benefits from excellent visibility and proximity to SE Hawthorne and Belmont's retail corridors, drawing strong, stable tenant demand.Current rents range from $1,225 to $1,795/month, with a projected gross income of $145,236 and a cap rate of 5.67%. Residents enjoy easy access to transit, local parks, and a vibrant food and beverage scene, all within one of Portland's top-performing rental submarkets.With strong in-place income, upside in rents, and an irreplaceable location in one of Portland's most beloved neighborhoods, this property presents a compelling opportunity for local investors seeking long-term value and reliable cash flow.

Location

State OR

County Multnomah

Community Laundry

Area _143

Zoning R2.5

Rooms

Basement Full Basement

Interior

Heating Wall Heater

Exterior

Garage Spaces 1.0

Community Features Laundry

Roof Type Other

Garage No

Building

Lot Description Corner Lot

Story 2

Sewer Public Sewer

Water Public Water

Level or Stories 2

Schools

Middle Schools Sunnyside Env

High Schools Franklin

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Regional Multiple Listing Service (RMLS)

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(503) 490-4888

lisa.mehlhoff@chastel.com

Lake Oswego, OR, 97035, USA

1408 SE 22nd AVE Portland, OR 97214