Duplex Near Glenfair
15540 Northeast Couch Street, Portland, OR 97230
Well-maintained duplex with upgraded interiors and long-term tenants.
Type:Multi Family
Property size:
1,848 SFPrice / SF:
$275/SF- Added:
- Nov 10, 2025
- Days on Market:
- 204
- Last Refresh:
- Mar 13 at 2:58 pm
Property Features for 15540 Northeast Couch Street
General Information
- Standard status
- Active
- Size
- 1,848 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1970
Listing agent Meiya Luo License #126735 (360) 892-7325
Listing office Coldwell Banker Bain (360) 892-7325
Listing date Nov 10, 2025
Source Compass
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All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Bain
HighLights
- Immediate rental income from long‑term tenants.
- Two units: one 3‑bedroom, 2‑bath and one 2‑bedroom, 1.5‑bath.
- Desirable location near Glenfair Park.
- Each unit has a fireplace, washer/dryer hookups, and a 1‑car garage.
- Upgraded interiors in both units.
- South‑facing yard.
Overview
This well-maintained duplex presents a great investment opportunity near Glenfair Park. The property features one 3-bedroom, 2-bath unit and one 2-bedroom, 1.5-bath unit. Both units include fireplaces, washer/dryer hookups, and attached 1-car garages, with additional off-street parking available. The property has a south-facing yard. Each unit offers upgraded interiors and has long-term tenants, providing immediate rental income. The current rents are $1,600 and $1,525 per month. The property size is 1848 square feet. Buyer to obtain and honor existing one-year leases.
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 | $38.8k | $21.00 |
| − Vacancy | −$2.0k | −$1.09 |
| EGI | $36.8k | $19.91 |
| − OpEx | −$11.0k | −$5.97 |
| NOI | $25.8k | $13.94 |
1,848 SF · lease $21.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$367.9K
$321.9K – $429.2K
NOI $25,753 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$339.0K
$296.6K – $395.5K
NOI $23,728 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$519.0K
$454.1K – $605.5K
NOI $36,327 @ 7.0% cap · market cap 7.14%
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
- -122.5033371
- Latitude
- 45.5228633
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Well-maintained duplex with upgraded interiors and long-term tenants.
Where is this duplex located?
The property is located at 15540 Northeast Couch Street Portland, OR.
What is the asking price?
The asking price for this property is $509,000.
What are key features of this property?
This property features: Immediate rental income from long‑term tenants.; Two units: **one 3‑bedroom, 2‑bath and one 2‑bedroom, 1.5‑bath**.; Desirable location near Glenfair Park.
