Duplex with Rooftop
519 VERMONT St, Portland, OR 97239
MULTI_FAMILY - Portland, OR
Property size:
3,718 SFLot size:
0.12 AcresPrice / SF:
$225/SF- Added:
- Jan 7, 2026
- Days on Market:
- 159
- Last Refresh:
- Jun 15 at 12:06 am
Property Features for 519 VERMONT St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RM1
- Bedrooms
- 5
- Bathrooms
- 8
- Rooms
- Bathroom 6, Bedroom 2, Bedroom 3, Bathroom 5, Bathroom 1, Bathroom 2, Bathroom 8, Bathroom 3, Bedroom 1, Bathroom 7, Bedroom 5, Bathroom 4, Bedroom 4
- Standard status
- Active
- APN
- R273137
- Size
- 3,718 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Description
- SOUTHERN PORTLAND, BLOCK 12, S 1/2 OF LOT 2&4
- Tax Annual Amount
- 11786
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1993
- Floors in Building
- 3
- Number of units
- 2
- Roof type
- Shingle
Listing agent David Sobolik (503) 939-4241
Listing office Knipe Realty ERA Powered 7440 SW Hermoso Way, Vancouver, OR (503) 445-7660
Listing date Jan 7, 2026
MLS# 406932377
Listing URL
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.
HighLights
- Two homes on one tax lot in Portland’s John’s Landing corridor: a primary residence plus a fully separate second residence.
- Primary residence is 2,600+ SF across three levels, built in 1993, with forced air heating and central air conditioning.
- Main level features hardwood floors, a gas fireplace, 20‑foot ceilings, and floor‑to‑ceiling windows.
- Primary suite is on the main level with an ensuite walk‑in shower.
- Rooftop terrace offers unobstructed territorial views with a direct Mt. Hood sightline.
- Corner separate home is 1,100 SF with 2 bedrooms, 1 bathroom, and independent access on the same RM1‑zoned tax parcel.
Overview
This property consists of two standalone residences on one tax lot, configured as a primary home plus a second corner home with independent access. The primary residence spans 2,600-plus square feet across three levels and includes hardwood flooring, a gas fireplace, and 20-foot ceilings with floor-to-ceiling windows. The main level features a primary suite with an ensuite walk-in shower, and the upper level adds two additional ensuite bedrooms plus a dedicated office. A rooftop terrace provides unobstructed territorial views and a sightline to Mount Hood. The second residence is a fully separate 1,100-square-foot, two-bedroom, one-bath home with independent access and is not described as a basement conversion.
Set in Portland’s John’s Landing corridor on an RM1-zoned tax parcel, the location offers access to major routes and nearby destinations. OHSU’s main campus is listed as under one mile via Terwilliger, while the South Waterfront tram terminus is listed as under 10 minutes. The Willamette River trail access is described as direct, and I-5 via Barbur is described as putting downtown Portland under 8 minutes off-peak.
With two distinct residences on the same RM1 parcel, this setup may appeal to buyers seeking flexible occupancy or income offset through a separate second home. The independent access, separate home layouts, and standalone nature of both structures support a practical, long-term ownership approach.
Set in Portland’s John’s Landing corridor on an RM1-zoned tax parcel, the location offers access to major routes and nearby destinations. OHSU’s main campus is listed as under one mile via Terwilliger, while the South Waterfront tram terminus is listed as under 10 minutes. The Willamette River trail access is described as direct, and I-5 via Barbur is described as putting downtown Portland under 8 minutes off-peak.
With two distinct residences on the same RM1 parcel, this setup may appeal to buyers seeking flexible occupancy or income offset through a separate second home. The independent access, separate home layouts, and standalone nature of both structures support a practical, long-term ownership approach.
Local 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 | $78.1k | $21.00 |
| − Vacancy | −$4.1k | −$1.09 |
| EGI | $74.0k | $19.91 |
| − OpEx | −$22.2k | −$5.97 |
| NOI | $51.8k | $13.94 |
3,718 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$740.2K
$647.7K – $863.6K
NOI $51,813 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$682.0K
$596.7K – $795.7K
NOI $47,739 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$1.04M
$913.6K – $1.22M
NOI $73,087 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.673512
- Latitude
- 45.475986
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two separate homes on one RM1 lot offer independent access and a rooftop terrace for outdoor living.
Where is this duplex located?
The property is located at 519 VERMONT St Portland, OR.
What is the asking price?
The asking price for this property is $839,900.
What are key features of this property?
This property features: Two homes on one tax lot in Portland’s John’s Landing corridor: a primary residence plus a fully separate second residence.; Primary residence is 2,600+ SF across three levels, built in 1993, with forced air heating and central air conditioning.; Main level features hardwood floors, a gas fireplace, 20‑foot ceilings, and floor‑to‑ceiling windows.
