Duplex with Rooftop
519 VERMONT St Portland, OR 97239
For Sale
$839,900
MULTI_FAMILY - Portland, OR
Property Size3,718 SF
Lot Size0.12 Acres
Price / SF$225.90
Days on Market204
Property Features for 519 VERMONT St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM1
Bedrooms
5
Bathrooms
8
Rooms
Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 5, Bathroom 4, Bathroom 3, Bedroom 3, Bathroom 5, Bathroom 6, Bathroom 7, Bathroom 8, Bathroom 1
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 Agency:
Knipe Realty ERA Powered
(503) 445-7660
Listed By:
David Sobolik · License #201236397
(503) 939-4241
Added: Jan 7
Changed: Jul 29
Last Checked: Jul 30 at 4:06AM
MLS# 406932377
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 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.
Key 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.
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 authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
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.
