Duplex with Separate
2036/2038 SE MORRISON St Portland, OR 97214
For Sale
$779,000
MULTI_FAMILY - Portland, OR
Property Size2,315 SF
Price / SF$336.50
Days on Market563
Property Features for 2036/2038 SE MORRISON St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
CM2
Bedrooms
5
Bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 1, Bedroom 3
Standard status
Active
APN
R287817
Size
2,315 SF
Taxes and HOA fees
Tax Description
TILTONS ADD, BLOCK 3, LOT 15&16 TL 5100
Tax Annual Amount
6740
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1909
Number of units
2
Roof type
Composition
Listing Agency:
Kelly Right Real Estate of Portland, LLC
(503) 719-6056
Listed By:
Jacob Serrill · License #201228311
(503) 780-7521
Added: Jan 13, 2025
Changed: Jul 11
Last Checked: Jul 30 at 10:06AM
MLS# 774931938
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This updated duplex includes a 3-bedroom, 1-bath main-level unit and a 2-bedroom, 1-bath daylight basement ADU. Each unit has its own separate entrance, kitchen, laundry area, and electric meter, providing an easy setup for separate occupancy or rental use. The interior has been recently refreshed with new finishes, and the property is described as fully permitted for year-round rental.
The address is 2036/2038 SE Morrison St in Portland, Oregon, in a CM2 zoning designation. The public remarks indicate the home is located in SE Portland’s Buckman area and is within blocks of Belmont, Hawthorne, and central city amenities.
With two independently accessible living spaces and recent interior updates, the configuration may suit an owner-occupant looking to live in one unit while renting the other, or an investor seeking income from both units.
The address is 2036/2038 SE Morrison St in Portland, Oregon, in a CM2 zoning designation. The public remarks indicate the home is located in SE Portland’s Buckman area and is within blocks of Belmont, Hawthorne, and central city amenities.
With two independently accessible living spaces and recent interior updates, the configuration may suit an owner-occupant looking to live in one unit while renting the other, or an investor seeking income from both units.
Key Highlights
- Duplex with separate entrances, kitchens, laundry, and electric meters for both units
- 5BD/2BA layout: 3BD/1BA main‑level unit plus 2BD/1BA daylight basement ADU
- CM2 zoning and fully permitted for year‑round rental use
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.6k | $21.00 |
| − Vacancy | −$2.5k | −$1.09 |
| EGI | $46.1k | $19.91 |
| − OpEx | −$13.8k | −$5.97 |
| NOI | $32.3k | $13.94 |
2,315 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$460.9K
$403.3K – $537.7K
NOI $32,261 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$424.6K
$371.6K – $495.4K
NOI $29,725 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$650.1K
$568.9K – $758.5K
NOI $45,508 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Updated duplex features two units with separate entrances, kitchens, laundry, and electric meters on CM2-zoned property.
Where is this duplex located?
The property is located at 2036/2038 SE MORRISON St Portland, OR.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Duplex with separate entrances, kitchens, laundry, and electric meters for both units; 5BD/2BA layout: 3BD/1BA main‑level unit plus 2BD/1BA daylight basement ADU; CM2 zoning and fully permitted for year‑round rental use
