Leased Triplex with Coin-Op
7521 N GLOUCESTER Ave N, Portland, OR 97203
MULTI_FAMILY - Portland, OR
Property size:
3,892 SFLot size:
0.10 AcresPrice / SF:
$179/SF- Added:
- May 15, 2026
- Days on Market:
- 49
- Last Refresh:
- Jul 2 at 4:06 am
Property Features for 7521 N GLOUCESTER Ave N
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- CM2
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 3, Bedroom 5, Bedroom 1
- Standard status
- Active
- APN
- R248754
- Size
- 3,892 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Description
- PORTSMOUTH VILLA EXTD, BLOCK F, N 2' OF ELY 25' OF LOT 2 & ELY 85
- Tax Annual Amount
- 6899
Utilities
- Heating system
- Forced Air
- Cooling system
- Window Unit(s), Central Air
Building Details
- Year built
- 1909
- Floors in Building
- 2
- Number of units
- 3
- Roof type
- Shingle
Listing agent Jessica Burke (971) 404-9673
Listing office Living Room Realty 421 SE 10th Ave, Portland, OR (503) 719-5588
Listing date May 15, 2026
MLS# 653794194
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
- Rare CM2 mixed‑use triplex with all three units leased
- 1909 farmhouse with shingle roof; forced‑air heating and Central Air plus Window Unit(s) cooling
- Unit upgrades include remodeled kitchen and bath features; Unit 3 has new carpet and refreshed kitchen plus new HVAC
- Each unit includes basement storage; shared backyard, deck, front porches, and coin‑op laundry
- About 50 feet adjoining a parking lot with driveway easement potential
- CM2 zoning allows wellness, medical, professional office, and retail; property is in the Prosper Portland Interstate Urban Renewal Area
Overview
This mixed-use CM2 triplex is a converted farmhouse configuration with three leased units. Unit 1 is a 1BR with hardwood floors, a wood-burning fireplace, and updated kitchen and bath. Unit 2 offers 2BR with hardwood floors, built-ins, and a remodeled kitchen and bath featuring penny tile, a clawfoot tub, and original hardware. Unit 3 is a 2BR plus bonus room with new carpet, new HVAC, and a refreshed kitchen. Each unit includes basement storage, and the property also has a shared backyard, deck, front porches, and coin-op laundry. The total building size is approximately 3,892 square feet, situated on an approximately 0.1-acre lot.
The property is located at 7521 N Gloucester Ave N in Portland, OR 97203 within the Prosper Portland Interstate Urban Renewal Area, and it is under one mile from University of Portland and New Seasons. The listing notes transit service including lines 75 and 35. An approximately 50-foot adjoining parking lot is described with driveway easement potential.
With CM2 zoning, the asset is positioned for a range of uses, including wellness, medical, professional office, and retail, in addition to residential. The unit mix and bonus-room layout in Unit 3 may support tenant flexibility at lease end, while the existing leased status and shared amenity setup may appeal to owner-operators or investors seeking an in-place income profile alongside commercial zoning versatility.
The property is located at 7521 N Gloucester Ave N in Portland, OR 97203 within the Prosper Portland Interstate Urban Renewal Area, and it is under one mile from University of Portland and New Seasons. The listing notes transit service including lines 75 and 35. An approximately 50-foot adjoining parking lot is described with driveway easement potential.
With CM2 zoning, the asset is positioned for a range of uses, including wellness, medical, professional office, and retail, in addition to residential. The unit mix and bonus-room layout in Unit 3 may support tenant flexibility at lease end, while the existing leased status and shared amenity setup may appeal to owner-operators or investors seeking an in-place income profile alongside commercial zoning versatility.
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 | $81.7k | $21.00 |
| − Vacancy | −$4.3k | −$1.09 |
| EGI | $77.5k | $19.91 |
| − OpEx | −$23.2k | −$5.97 |
| NOI | $54.2k | $13.94 |
3,892 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$774.8K
$678.0K – $904.0K
NOI $54,237 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$713.9K
$624.7K – $832.9K
NOI $49,973 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$1.09M
$956.4K – $1.28M
NOI $76,508 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.72329
- Latitude
- 45.582684
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Three leased units with basement storage, shared outdoor space, and coin-op laundry in CM2 for mixed-use flexibility.
Where is this triplex located?
The property is located at 7521 N GLOUCESTER Ave N Portland, OR.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: Rare CM2 mixed‑use triplex with all three units leased; 1909 farmhouse with shingle roof; forced‑air heating and Central Air plus Window Unit(s) cooling; Unit upgrades include remodeled kitchen and bath features; Unit 3 has new carpet and refreshed kitchen plus new HVAC
