1408 SE 22nd AVE, Portland, OR 97214
1408 SE 22nd AVE, Portland, OR 97214
1408 SE 22nd AVE, Portland, OR 97214
1408 SE 22nd AVE, Portland, OR 97214
1408 SE 22nd AVE, Portland, OR 97214
1408 SE 22nd AVE, Portland, OR 97214
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HomeSmart Realty Group

HomeSmart Realty Group

+1(971) 599-5865
Listed by Rarebird Real Estate
$ 1,250,000
Est. payment | /mo

6,178 SqFt

Save
$ 1,250,000
Est. payment | /mo
Save

6,178 SqFt

Key Details

Property Type Multi-Family

Listing Status Pending

Purchase Type For Sale

Square Footage 6,178 sqft

Price per Sqft $202

Subdivision Buckman

MLS Listing ID 746365810

HOA Y/N No

Year Built 1904

Annual Tax Amount $9,621

Tax Year 2025

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 east side building offers spacious one-bedroom units, 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 Scheduled gross income of $141,780 and a cap rate of 7.46%. 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

Area _143

Zoning R2.5

Rooms

Basement Full Basement

Interior

Heating Wall Heater

Exterior

Garage Spaces 1.0

Roof Type Other

Garage No

Building

Lot Description Corner Lot

Story 2

Sewer Public Sewer

Water Public Water

Level or Stories 2

Schools

Elementary Schools Sunnyside Env

Middle Schools Sunnyside Env

High Schools Franklin

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Regional Multiple Listing Service (RMLS)

Nearby Locations

HomeSmart Realty Group

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

+1(971) 599-5865

broker@hsmartrealtygroup.com

3240 Commercial St SE, Ste 100, Salem, OR, 97302

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1408 SE 22nd AVE