Versatile Home with Rental
6402 Southeast 57th Avenue, Portland, OR 97206
Unique property in Woodstock with income potential and flexible layout.
Type:Multi Family
Property size:
2,145 SFPrice / SF:
$239/SF- Added:
- Apr 5, 2025
- Days on Market:
- 424
- Last Refresh:
- Mar 13 at 4:53 pm
Property Features for 6402 Southeast 57th Avenue
General Information
- Standard status
- Active
- Size
- 2,145 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1967
Listing agent Terry Long License #112275 (503) 320-6543
Listing office Washington First Properties (503) 320-6543
Listing date Apr 5, 2025
Source Compass
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Washington First Properties
HighLights
- Versatile property with a 2021 addition featuring 2 bedroom suites and a sitting room above an oversized finished double car garage.
- Potential for rental income from the addition, previously used as an Airbnb.
- Option to convert into a duplex or triplex (buyer to do due diligence).
- Two separate hot water heaters: one for the original house and one for the addition.
- Addition has ductless AC/Heat system upstairs.
- Seller will entertain seller carry contract.
Overview
Located on a quiet street in the Woodstock neighborhood, this property features a versatile layout combining a 1967 original house with a 2021 addition. The original single-story home, facing 57th Ave, includes 3 bedrooms, 1 bathroom, an oversized living room, laundry facilities, and a single-car garage. The 2021 addition, accessible from inside the house, a separate side entrance, or the garage doors facing the back alley, features an oversized finished and heated double-car garage with 2 bedroom suites and a sitting room above. The addition is equipped with a ductless AC/Heat system upstairs, while the original house has wall and window-mounted AC units. The property is suitable for living in and renting out a portion for extra income and has potential for conversion into a duplex or triplex. Previous owners rented out the addition as an Airbnb. The home has two large hot water heaters, one for the original house and one for the addition. The property size is 2145 square feet. A dead tree was professionally removed and is required to be replaced.
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 | $47.6k | $22.20 |
| − Vacancy | −$2.6k | −$1.22 |
| EGI | $45.0k | $20.98 |
| − OpEx | −$13.5k | −$6.29 |
| NOI | $31.5k | $14.69 |
2,145 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$450.0K
$393.8K – $525.0K
NOI $31,500 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$403.5K
$353.0K – $470.7K
NOI $28,243 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$602.4K
$527.1K – $702.8K
NOI $42,166 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Washington
- State
- Oregon
- Longitude
- -122.6044336
- Latitude
- 45.4764729
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - Unique property in Woodstock with income potential and flexible layout.
Where is this multifamily property located?
The property is located at 6402 Southeast 57th Avenue Portland, OR.
What is the asking price?
The asking price for this property is $513,000.
What are key features of this property?
This property features: Versatile property with a **2021 addition featuring 2 bedroom suites and a sitting room above an oversized finished double car garage.**; **Potential for rental income** from the addition, previously used as an Airbnb.; Option to convert into a duplex or triplex (buyer to do due diligence).
