136 SE 97TH AVE, Portland, OR 97216 – 24456797 - Kathy Quick

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Kathy Quick

kathy@kathyquick.com +1(503) 730-0702

Listed by MORE Realty • 503-779-9377

$ 379,000

Est. payment | -/mo

3 Beds

2 Baths

1,049 SqFt

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$ 379,000

Est. payment | -/mo

Save

3 Beds

2 Baths

1,049 SqFt

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

Rooms

Basement Crawl Space

Interior

Interior Features Laminate Flooring, Washer Dryer

Heating Wall Heater, Wood Stove

Cooling None

Fireplaces Number 1

Fireplaces Type Wood Burning

Appliance Disposal, Free Standing Range, Range Hood, Stainless Steel Appliance

Exterior

Exterior Feature Fenced, Yard

Garage Attached

Garage Spaces 2.0

Waterfront Yes

Waterfront Description Other

Roof Type Composition

Parking Type Driveway, Parking Pad

Garage Yes

Building

Lot Description Level, Pasture

Story 1

Sewer Public Sewer

Water Public Water

Level or Stories 1

Schools

Elementary Schools Cherry Park

Middle Schools Floyd Light

High Schools David Douglas

Others

Senior Community No

Acceptable Financing Cash, Conventional, FHA, USDALoan, VALoan

Listing Terms Cash, Conventional, FHA, USDALoan, VALoan

Regional Multiple Listing Service (RMLS)

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