136 SE 97TH AVE Active Save Request In-Person Tour Request Virtual Tour
Portland,OR 97216
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 1,049 sqft
Price per Sqft $361
MLS Listing ID 24456797
Style Stories1, Ranch
Bedrooms 3
Full Baths 2
Year Built 1979
Annual Tax Amount $4,038
Tax Year 2023
Lot Size 5,227 Sqft
Property Description
This property presents a unique investment opportunity, blending stable rental income with significant future potential. Currently zoned for commercial use but functioning as a residential rental, this property is occupied by long-term tenants who have been in place for 7 years, benefiting from the Section 8 housing program. The existing structure offers comfortable living space with 3 bedrooms and 2 bathrooms, making it an ideal residence for tenants seeking convenience and accessibility. The property?s commercial zoning adds a layer of versatility, providing the possibility for future development or conversion to a commercial enterprise, all while maintaining a steady income stream from the current residential use. Situated in a prime location with easy access to major transportation routes, shopping, and amenities, this property is perfect for investors looking to secure a solid return today with the flexibility to adapt to future market needs. The Section 8 tenant has not had a rent increase since 2018, and according to the local public housing authority, a rental increase will most likely be approved, offering an additional financial upside. The current tenants pay $2,058 monthly rental income. For further questions, please contact the listing agent. Don?t miss out on this rare chance to own a dual-purpose property in the heart of Portland?s evolving landscape. No sign on property. DO NOT disturb tenants.
Location
State OR
County Multnomah
Area _143
Zoning EXD
Interior
Heating Wall Heater, Wood Stove
Cooling None
Fireplaces Number 1
Fireplaces Type Wood Burning
Exterior
Exterior Feature Fenced, Yard
Garage Attached
Garage Spaces 2.0
Waterfront Yes
Waterfront Description Other
Roof Type Composition
Building
Lot Description Level, Pasture
Story 1
Sewer Public Sewer
Water Public Water
Schools
Elementary Schools Cherry Park
Middle Schools Floyd Light
High Schools David Douglas
Others
Acceptable Financing Cash,Conventional,FHA,USDALoan,VALoan
Listing Terms Cash,Conventional,FHA,USDALoan,VALoan